M.D.C. Holdings Announces Entry Into Orlando Market

Wed Apr 3, 2013 5:30pm EDT

* Reuters is not responsible for the content in this press release.

For best results when printing this announcement, please click on the link


DENVER,  April 3, 2013  /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC) today
announced that its Richmond American Homes of  Florida  subsidiary, which has
been operating in the state for almost 10 years, has closed on the purchase of
its first two homebuilding projects in the  Orlando  market. The newly purchased
projects, Brynmar and  Bella Lago, are scheduled for grand opening in the second
quarter of 2013 and will feature a combined 116 sites with one- and two-story
homes ranging from 2,275 to 4,214 square feet.

"We are pleased to add  Orlando  to our operational footprint," said  David D.
Mandarich, MDC's president and chief operating officer. "Our entry into this
market gives us the opportunity to meaningfully add to our overall presence in 
Florida, which has experienced a significant resurgence in homebuilding activity
over the past year."

In addition to the projects already acquired, Richmond American Homes of 
Florida  also has two projects in  Orlando  that are under control for potential
purchase, pending feasibility review.

About MDC

Since 1972, MDC's subsidiary companies have built and financed the American
dream for more than 170,000 homebuyers. MDC's commitment to customer
satisfaction, quality and value is reflected in each home its subsidiaries
build. MDC is one of the largest homebuilders in  the United States. Its
subsidiaries have homebuilding operations across the country, including the
metropolitan areas of Denver,  Colorado Springs,  Salt Lake City,  Las Vegas, 
Phoenix,  Tucson,  Riverside-San Bernardino,  Los Angeles,  San Francisco Bay
Area,  Washington D.C.,  Baltimore,  Philadelphia,  Jacksonville  and  Seattle.
The Company's subsidiaries also provide mortgage financing, insurance and title
services, primarily for Richmond American homebuyers, through HomeAmerican
Mortgage Corporation, American Home Insurance Agency, Inc. and American Home
Title and Escrow Company, respectively. M.D.C. Holdings, Inc. is traded on the
New York Stock Exchange under the symbol "MDC." For more information, visit 

Forward-Looking Statements

Certain statements in this release, including statements regarding our business,
financial condition, results of operation, cash flows, strategies and prospects,
constitute "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995.  Such forward-looking statements
involve known and unknown risks, uncertainties and other factors that may cause
the actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by the forward-looking statements.  Such factors include, among other
things, (1) general economic conditions, including changes in consumer
confidence, inflation or deflation and employment levels; (2) changes in
business conditions experienced by the Company, including cancellation rates,
net home orders, home gross margins, and land and home values; (3) changes in
interest rates, mortgage lending programs and the availability of credit; (4)
changes in the market value of the Company's investments in marketable
securities; (5) uncertainty in the mortgage lending industry, including
repurchase requirements associated with HomeAmerican's sale of mortgage loans
(6) the relative stability of debt and equity markets; (7) competition; (8) the
availability and cost of land and other raw materials used by the Company in its
homebuilding operations; (9) the availability and cost of performance bonds and
insurance covering risks associated with our business; (10) shortages and the
cost of labor; (11) weather related slowdowns; (12) slow growth initiatives;
(13) building moratoria; (14) governmental regulation, including the
interpretation of tax, labor and environmental laws; (15) terrorist acts and
other acts of war; and (16) other factors over which the Company has little or
no control.   Additional information about the risks and uncertainties
applicable to the Company's business is contained in the Company's Form 10-K for
the year ended  December 31, 2012.  All forward-looking statements made in this
press release are made as of the date hereof, and the risk that actual results
will differ materially from expectations expressed in this press release will
increase with the passage of time.  The Company undertakes no duty to update
publicly any forward-looking statements, whether as a result of new information,
future events or otherwise.  However, any further disclosures made on related
subjects in our subsequent filings, releases or webcasts should be consulted.

SOURCE  M.D.C. Holdings, Inc.

Robert N. Martin, Vice President of Finance, (720) 977-3431,

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.