APPRAISAL of the Remaining Inventory – Lots Only the Villas
APPRAISAL OF THE Remaining Inventory – Lots Only The Villas Residential Subdivision Silk Drive, Tulpehocken Avenue and Elm Street West Reading, Pennsylvania, 19601 West Reading Borough, Berks County APPRAISAL REPORT Prepared By Crognale Appraisal Company EFFECTIVE DATE October 1, 2015 PREPARED FOR: Sandra Dietch FFC Appraisal Group Fulton Financial Corporation 160 East King Street Lancaster, PA 17602 FFC Appraisal File Number: FFC-C-15-01381 John Crognale, MAI Principal Crognale Appraisal Company 1240 Revere Drive Chalfont, Pennsylvania 18914 T-267.477.1630 October 19, 2015 Sandra Dietch FFC Appraisal Group Fulton Financial Corporation 160 East King Street Lancaster, PA 17602 FFC Appraisal File Number: FFC-C-15-01381 Re: Appraisal of the Remaining Inventory – Lots Only West Reading Townhouse Subdivision Silk Drive, Tulpehocken Avenue and Elm Street West Reading, Pennsylvania, 19601 West Reading Borough, Berks County Dear Ms. Dietch: Attached is the appraisal report for the property noted above. The subject property represents the remaining lot inventory of a residential subdivision known as The Villas. In its entirety, The Villas comprises 6.1631 acres with 58 townhouse units, open space and associated streets. The overall The Villas subdivision is located on the northwest corner of Tulpehocken Avenue and Walnut Street, in West Reading Borough, Berks County, Pennsylvania. As previously noted, The Villas is being developed with 58 townhouse lots. As of the effective date of this appraisal, 36 townhouse lots have been sold and settled to homebuyers. Therefore, the remaining 22 townhouse lots at The Villas represent the subject of this appraisal. All of the 22 subject lots are essentially site-improved with minor paving required to be completed.
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