Frequently Asked Questions

This information may be helpful in answering some of the frequently asked questions about living in a maintenance-free age entitled community:

Is Twin Lakes age restricted?
There are two sections in Twin Lakes: (1) the Greene is unrestricted and there is no minimum age for buyers or residents; (2) the Village is Active Adult, one resident must be at least 55 years old.

How large is the property?
The Village of Twin Lakes is approximately 18 acres located within the city limits of Newark along the Delaware Route 2. The community will consist of 8 units total.

Are there models I can see?
If you are considering a home in the Greene, you can see a furnished model of the Larchmont I at our Hudson Village community, just 10 minutes away. There are furnished models of the condominium flats on-site for the Village of Twin Lakes.

Will the community be gated?

No. Since the roads are public, the community cannot be gated.

I am in the Village (the 55 or better section). May my grandchildren visit me?
Of course! That is what makes life so great, seeing the world through your grandchildren's eyes. Federal law provides that 80% of the homes in The Village of Twin Lakes must have one permanent occupant who is 55 years of age or older. No permanent resident of a home is allowed to be under the age of 18. The Village of Twin Lakes permits visitors under the age of 18 to stay up to 30 nights per year and there is no regulation as to day visits.

For the Village of Twin Lakes, are there any fees for health care?
No. The Village of Twin Lakes is a community of homes for active adults. There is no continuing health care associated with the community.

May I install a shed or fence on my property?
Each home will be individually owned. However, the responsibility to maintain the community and its lasting beauty rests with your Homeowners Association. To insure maintenance and reduce the cost of said maintenance no structure can be installed. All house furniture and barbecue equipment must be placed on patios or porches.

What is meant by public and private open space?
Public open space will be dedicated to the City of Newark, which will maintain it, once the construction is completed in that portion of the community.

Private open space will be owned and maintained by the Homeowners Association. The community walking trails located on private open space are for the use of residents of The Village of Twin Lakes and their guests only.

Who will own the streets?
Once the streets in the community are completed they will be dedicated to the City of Newark, which will plow and maintain them. Until that time, the Developer will perform those tasks.

May I own a pet?
Each home may have up to two dogs, two cats or one of each. Any pet outside must be controlled on a leash at all times. In addition, pet owners are responsible to remove their pet droppings immediately.

What is standard and extra in the homes?

In each marketing brochure you will find a list of standard features in each home. Within 15 days of signing an Agreement of Sale, you will meet to decide on which standard or option items you would like to choose.

What will my taxes be?
The estimated annual taxes are based on the price of your home. For a home that sells for $250,000, the estimated taxes will be about $1,700.00 for New Castle County and school taxes. The City of Newark annual tax will be approximately $500.00. Once you are 65 years old and have been a resident for a year, you can apply for a tax credit that can reduce those taxes by as much as $750.00. In some cases, owners will get a full exemption from school taxes once you are 65 years old and your income is less than $50,000.00. This will be a substantial savings to you. Unlike most areas in Delaware, the City of Newark will provide local police service and trash removal.

What are the estimated utility costs?
With energy costs going up, your Cornell home is not only easier to maintain but it is energy efficient as well. All of our new homes are Energy Star rated. Our goal is to provide you an energy efficient, comfortable and more economical home. The City of Newark provides electric services, public water and public sewer. Delmarva Power provides gas to your home.

Central air conditioning, standard ranges, washer and dryer connections are electric. Your monthly bills for these items will vary depending on how warm or cool you prefer your home and how much you use your appliances. You also have the option to upgrade to a natural gas range or dryer.