A Week In Business – September 2, 2022

A Week In Business – September 2, 2022
The Rehoboth Beach – Dewey Beach Chamber of Commerce (RBDBCC) recently held a ribbon cutting ceremony to celebrate new member Coffee Rendezbrew. The business is the creator of four coffees, each reminiscent of Sussex County beaches. Coffee Rendezbrew will be arriving in local grocery stores this fall, but the “Beach Brews” and other coffees are now available for purchase on the business’s website or by searching “Coffee Rendezbrew” on Amazon. Above, Meghan McCalley, RBDBCC, Serena Hall, Coffee Rendezbrew Founder Wanda Guyton and Kate VanVorst, RBDBCC, are pictured at the Aug. 18 ribbon cutting. Submitted Photo

Hospital Recognized

SALISBURY – TidalHealth Peninsula Regional today announced that it is again a 5-star recipient for both vaginal and C-section deliveries as recognized by Healthgrades, the leading resource that connects doctors and patients.

This 5-star rating indicates that TidalHealth’s clinical outcomes for the two services remain among the best in the nation and are significantly above others providing the same services.

This is the fifth consecutive year that the Salisbury hospital has been 5-star rated by Healthgrades in each service.

Just five hospitals in Maryland, with TidalHealth Peninsula Regional being the only on the Eastern Shore, have been 5-Star rated in both birthing services the last five years. Just nine Maryland hospitals hold both distinctions in 2022. The state of Delaware does not make its All-Payor data available, so hospitals there, including TidalHealth Nanticoke, are not reviewed by Healthgrades.

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Healthgrades analyzed all-payer data for 16 states from 2018 through 2020. Healthgrades found that there is a significant variation in hospital quality between those that have received 5-stars ratings and those that have not.

“This is a great honor for an outstanding, caring and compassionate Women’s and Children’s team at TidalHealth Peninsula Regional,” said Steve Leonard, Ph.D., MBA, FACHE, and president/CEO of TidalHealth. “As a family-centered hospital, we welcome around 2,000 babies into our community each year.  We are proud that this award reflects the high quality, safe, nurturing environment we work to provide for new mothers. Our obstetrical team and provider partners at Chesapeake Healthcare work with families to discuss their birthing options from births assisted by midwives with a physician’s support to providing complex care for high-risk pregnancies.”

TidalHealth also has a team of dedicated neonatologists and neonatal nurses that provide intensive care for babies who may require respiratory support and closer observation in its special care nursery. As part of an ongoing collaboration, Children’s National Hospital cares for newborns in the special care nursery. The neonatologists provide ongoing, evidence-based educational classes on current neonatal care.

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Housing Report

BERLIN – The seasons are changing and so is the market on the Lower Shore, according to the Coastal Association of REALTORS (CAR).

Last month home sales dropped by 27% across Maryland and dropped 20.9% locally. Interest rates continue to rise and there are many indications that buyers are showing concern for the market.

The median home price is 4.9% higher than it was in July 2021 but down 1.7% from the last month, June 2022. Individually the median home price was $361,000 in Worcester, $245,000 in Wicomico, and $149,450 in Somerset. CAR reports currently having only 531 active listings in the lower three counties compared to 545 in July 2021 and 1,608 in July 2019, pre-pandemic.

In all three counties throughout July, new settlements were down 20.9% compared to the same time last year. Individually, new settlements throughout July were down by 20% in Worcester, 26.4% in Wicomico and flat in Somerset.

New listings in July were down 17.8% compared to the same time last year in all three counties. Individually, new listings were down by 18.8% in Worcester, 15.9% in Wicomico, and up 18.4% in Somerset from July 2021.

Active listings in all three counties were down by 2.6% from July 2021. Individually, there were 309 active listings in Worcester, 150 in Wicomico, and 72 in Somerset. The median days on market for July 2022 was nine, which was up 12.5% from July of 2021.

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University Affiliation

SALISBURY – The Chartered Financial Analysis Institute (CFAI), the global association that sets the standard for investing professional excellence and administers the investing industry gold standard CFA charter, has renewed Salisbury University’s status as an affiliated university, providing benefits to students.

These include six scholarships reducing the cost to students taking the CFA level I exam from $1,250 to $350. The CFAI has recognized SU’s B.S. in finance, investments track, as incorporating at least 70% of the CFA Program Candidate Body of Knowledge (CBOK) and placing emphasis on the CFA Institute Code of Ethics and Standards of Practice within the program.

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Inn, Tavern Sale

PRINCESS ANNE – Henry Hanna and Flo Brotzman, advisors with SVN Miller Commercial Real Estate, have been retained by the Town of Princess Anne to market the sale of the historic 1744 Washington Inn & Tavern, Princess Anne, Md.

This iconic inn and tavern is owned by the Town of Princess Anne and is being offered for sale as a going concern, building and business.

Built in the reign of King George II in 1744, The Washington Inn has been the center of the community ever since. Over 275 years of hospitality, serving travelers and the community and the second oldest inn in the state.

Situated in the center of the town of Princess Anne and the Somerset County seat, the two-story colonial structure is located in an area prioritized for economic and community development. It is in a state-designated Main Street District, Sustainable Community, Enterprise Zone, and Priority Funding Area.

The property is one of 242 structures included in the Princess Anne Historic District, listed on the National Register of Historic Places. The Washington Inn & Tavern has served as a catalyst for business growth in a district committed to historic preservation, economic growth, and community development

Re-opened in September 2016 by Gov. Larry Hogan following an extensive two-year renovation, Ian Fleming of the 1710 Robert Morris Inn in Oxford has managed and operated the inn since.

The town’s purchase and renovation of the inn was only made possible by a strong public-private partnership with local investors and generous Community Development Block Grants. Contracts with both entities require the town to sell the inn by 2023.

The inn features 10 guest bedrooms, private and public dining facilities, tavern bar and a generous rear parking lot. There are opportunities to develop and expand the business. The town is working diligently with the state of Maryland to demolish the south side of the structure.

Located at 11784 Somerset Avenue, in historic downtown Princess Anne, the Washington Hotel site is located three blocks from U.S. Route 13, a major artery which just received national designation as the Chesapeake Country All American Road, one of America’s Byways. University of Maryland Eastern Shore, a land grant university and HBCU, is within walking distance from the inn. Princess Anne is only 2-4 hours from major metropolitan areas including Washington, D.C., Baltimore, Philadelphia, and Norfolk.

For further information please contact Henry Hanna or Flo Brotzman at 410-543-2419 or email Henry.Hanna@svn.com or Flo.Brotzman@svn.com.