M.D.C. Holdings Announces Four Land Purchases In The Tucson Area

Wed Sep 4, 2013 5:01pm EDT

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M.D.C. Holdings Announces Four Land Purchases In The Tucson Area

PR Newswire

TUCSON, Ariz., Sept. 4, 2013 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC) is proud to announce that its Richmond American Homes of Arizona subsidiary has closed on four land purchases in the Tucson area.

The first land purchase, in Marana, is a 36-homesite extension of Richmond American's current property in the master-planned community of Gladden Farms. The new development, Flor de Algodon at the Arbors, is scheduled to offer many of the same floor plans available at the Gladden Farms location, which includes both single- and two-story homes with approximately 1,645 to 2,720 finished square feet. Planned features include beautifully appointed exteriors and open, spacious living spaces with plenty of closet space. Residents will enjoy Gladden Farms' many amenities, such as miles of walking trails, parks and twelve playgrounds. The location is also near Marana's recreational facilities, including a sparkling pool and dog park.

The second land purchase, also in Marana, is The Village at Twin Peaks, with an opening date scheduled for the first quarter 2014. The community will offer 40 homesites with an assortment of new single- and two-story homes ranging from approximately 1,720 to 2,701 finished square feet. Attention to detail and storage space are top priorities for these floor plans. The location is conveniently located with easy access to the Marana School District, shopping, dining, and I-10.

The third land purchase is in the popular city of Vail, Arizona. The community of Mountain Vail Ranch is scheduled to open the first quarter of 2014 with a total of 87 homesites and a sophisticated collection of new single- and two-story homes with up to approximately 2,900 finished square feet, priced from the low $200s. The homes will feature spacious interiors and Richmond American's signature attention to detail. The neighborhood will be within the popular Vail School District and close to national parks, with easy access to I-10.

The final land purchase announcement is located in the city of Tucson. With a total of 86 homesites, Sycamore Point is scheduled to open during the fourth quarter of 2013. The builder plans to offer two-story floor plans with up to 2,150 finished square feet. Like Mountain Vail Ranch, the location of Sycamore Point will sit within the Vail School District in convenient proximity to I-10 with easy access to Davis Monthan Air Force Base and the airport. Homes will start in the upper $100s.

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, Orlando, Jacksonville, South Florida 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 www.mdcholdings.com.

SOURCE M.D.C. Holdings, Inc.

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