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Focus Property Group’s Mountain’s Edge Ranked No.1 in the Country for Master-Planned Community Sales

May 1, 2009

Community remains No.1 for second year and Focus’ Providence moves up in ranking

LAS VEGAS, May 1 /PRNewswire/ — Mountain’s Edge, a 3,500 acre master-planned community located in southwest Las Vegas, recently was ranked by RCLCO (formerly Robert Charles Lesser & Co., LLC), a leading independent real estate advisory firm, as the top selling master-planned community in the United States in 2008. Providence, a 1,200 acre master plan in the northwest valley, was ranked No.4 in the country. Mountain’s Edge remained in the No.1 position from last year and Providence moved up in ranking from No.5 to No.4 the country.

Focus Property Group, developer of Mountain’s Edge and Providence, was credited by the survey with 879 net new home sales in 2008 for Mountain’s Edge and 514 net new homes sales in 2008 for Providence.

“The economy has taken its toll on the homebuilding industry, particularly in the southwest region, but this survey underscores that buying homes in great master plans holds strong appeal for those interested in the long-term value,” said John A. Ritter, chairman and CEO of Focus Property Group. “We’re pleased that Mountain’s Edge and Providence have performed relatively well during these tough economic times.”

The survey noted that a key characteristic shared by strong selling master plans was a commitment to building environmentally friendly communities. Interviews held with top master plan performers indicated that sustainable features have become an important factor in driving traffic and sales to communities.

Focus’s John Ritter reiterates the company’s commitment to building eco-conscious communities during a recent interview with RLCLO representatives.

“Our communities all include numerous measures to ensure they are environmentally friendly and water smart, leading to 25 percent less water use than similar master plans, and this has resonated with homebuyers” said Ritter. “We have found that living in a community that respects the environment – especially one that is water smart in our desert climate – is something that’s highly important to homebuyers and their families.”

Focus Property Group works closely with its builder partners to create and actively promote green programs and amenities to benefit the community and attract interested buyers. Examples of these efforts in action include demonstration gardens and seminars with horticulturalists (with 5,000 residents participating in the first year), and a landscape manual that details native plants in the community and their care.

In addition to environmental sensitivity, the RCLCO survey noted that to stay competitive, successful communities, such as Mountain’s Edge and Providence, need to offer affordable price points, be established and well-located near job centers and amenities, and provide for open spaces, pedestrian-oriented amenities, town centers and community gathering and learning places.

The RCLCO survey identifies master planned communities as large-scale developments featuring a wide range of housing prices and styles, an array of amenities and multiple non-residential land uses (such as commercial, hotels, and education facilities).

Additionally, the real estate advisory firm credits the competitiveness of the top-selling master plans with heavily themed communities that deliver a “way of life” with lifestyle programming to match it.

The theme of Mountain’s Edge celebrates the rich history of Las Vegas. Adjacent to the community lies a portion of the Old Spanish Trail from which explorers first discovered the valley. All of the parks planned for Mountain’s Edge are named in tribute of those explorers and others who first settled the area.

When fully developed, Mountain’s Edge will have an estimated 14,500 homes and is planned to have four elementary schools, two of which are already open, two middle schools and a high school. The community is planned to have shopping centers, restaurants and commercial office space.

Homebuilders with subdivisions at Mountain’s Edge include: Amstar Homes, Beazer Homes, Engle Homes, KB Home, Meritage Homes, Pardee Homes, Phillips Homes, Pulte Homes, Ryland Homes, Toll Brothers, Warmington Homes Nevada and Woodside Homes.

Providence celebrates the American Spirit, rooted in the traditions of small town America where neighborhoods bring people together with common goals and common interests. Wide tree-lined boulevards and formally planted landscapes through the promenade and parks visually reinforce the theme from every perspective.

When completed, Providence will be comprised of an estimated 7,500 homes. Providence is planned to have two community parks, one linear park, miles of trails systems, two elementary schools and one middle school, in addition to the existing high schools in the surrounding area.

Homebuilders with subdivisions at Providence include Beazer Homes, KB Home, Lennar, Meritage Homes, Pulte Homes, Ryland Homes, Toll Brothers and Woodside Homes.

Focus Property Group and its affiliated entities specialize in land investment and development, with current projects totaling more than 10,000 acres in Southern Nevada and throughout the Southwest. The company has been involved in transactions exceeding $6 billion since its inception and also provides development and strategic advisory services to other land owners, lenders and investors.

SOURCE Focus Property Group


Source: newswire



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