Development Moves to Next Level in 'Energy Village', Rifle, CO - RimRock at Rifle...

Development Moves to Next Level in 'Energy Village', Rifle, CO - RimRock at
Rifle by Meritage Development Group

RIFLE, Colo., March 24 /PRNewswire/ -- Meritage Development Group of Basalt
has filed documents with the City of Rifle for RimRock at Rifle PUD, a
350-acre master-planned community at the north end of Rifle. Designed to meet
growing housing and commercial needs in the center of Colorado's energy and
I-70 corridor boom, RimRock, www.rimrockatrifle.com, is Rifle's first
master-planned community. "RimRock offers fresh ideas and a innovative,
sustainable living concept that is entirely new to Colorado's Western Slope,"
commented Scott Russell, Meritage principal.

"What began as a dream three years ago today is a solid reality based upon the
collaborative efforts of the community working with RimRock's development team
over the last two years," Russell said.

"RimRock offers an opportunity to meet Rifle's projected housing needs, and
the project demonstrates a commitment to Rifle's "Energy Village" vision by
adopting green building and sustainable development practices," commented
Assistant City Manager Matt Sturgeon. "The scale and size of RimRock allows
the City to have the comfort of knowing there will be a place for a variety of
housing types to be constructed over an extended period. It will also set the
tone for other development we expect to occur over the next several years," he
added.

The RimRock project is situated in a Tier 1 Priority Growth Area of Rifle, an
area identified for future capital improvement projects.

RimRock at Rifle will feature diverse types of housing, commercial components
and amenities such as a pool and community center, and a community farm. Green
building practices are encouraged throughout. Nestled amidst remarkable
natural features with extensive views, the site has been divided into three
distinct neighborhoods around a concept that encourages people to park their
cars and walk or bike to everything they need.

"RimRock will appeal to friendly, active people who enjoy the environment and
want to maintain a connection with the outdoors," comments Russell. Trails and
greenbelts connect the neighborhoods of RimRock. Its community center, pool,
school, ball fields and parks encourage everyday living and playing.
Significant focus has been placed upon parks and open space.

"The City appreciates the developer's attention to green and sustainable
principles," said Sturgeon. "Meritage is working hard to allow the landscape
to define the RimRock community. Over time, residents of this new development
will be rewarded by the developer's attention to the natural environment."

Design and landscape guidelines will preserve RimRock's integrity. The total
number of homes is limited to 1,700. With a diverse mix of housing types and
price ranges, RimRock offers a wide range of choices - apartments, town homes,
duplexes, and single-family homes.

Each of the three neighborhoods - The Boulders, Pinyon Valley and Government
Creek - offers its own character and distinctive design features. Government
Creek, the commercial center of the project, is slated to include neighborhood
commercial, retail, office and mixed-use buildings.

RimRock's Metropolitan District will be responsible, in part, for providing
the funding and tax base needed to support the financial plan for capital
improvements and operations and maintenance costs for those facilities
intended and necessary to serve the residential areas and properties it will
encompass. Scheduled project build-out is ten years.

About Rifle, Colorado ... Rifle is located 165 miles west of Denver and 53
miles east of Grand Junction on the I-70 corridor. The community is one of
the fastest-growing communities in the West, with more than 20 percent growth
in the past six years coming from the energy industry, retirees who want to
enjoy the outdoor lifestyle including hunting, fishing, golfing and nearby
skiing, and those who want to escape big city life.

About Meritage Development Group ... Scott B. Russell founded Russell
Solutions in 1996, which became Meritage Development Group in 2005, focusing
on high-end single- and multi-family residences in Colorado and California,
and most recently, multiple large-scale mixed-use and commercial developments
in Colorado. Some of Meritage's projects currently underway on Colorado's
Western Slope include Silver Trout Estates in Silverthorne, Stratton Flats in
Gypsum and RimRock at Rifle. Meritage Development Group excels in identifying
opportunities in proven, highly desirable markets. The company maintains
excellent relationships with both private and institutional investors, and it
has long-standing relationships with several local and national lenders. For
information, please visit http://www.meritagedevelopment.com and
www.rimrockatrifle.com.

SOURCE Meritage Development Group

Nancy Wilhelms of WestGroup Marketing, +1-970-927-9797,
nancyw@teamwestgroup.com, for Meritage Development Group; or Scott Russell,
Principal, Meritage Development Group, +1-970-927-5288,
scott@meritagedevelopment.com