Crescent Resources to Add More Than 100 Homesites at Springfield This Year Lennar to Build 63 Homes in Latest Phase

FORT MILL, S.C., July 31, 2012 /PRNewswire/ -- Developer Crescent Resources has started construction on a new phase of homesites at Springfield, and homebuilder Lennar has committed to purchasing all its 63 homesites. This is the second phase of development Crescent has begun at Springfield this year. In total, Crescent will be adding 106 new homesites to its popular Fort Mill, S.C., community in 2012.

"Sales have been brisk at Springfield this year, with 23 homes sold," said Joe Walker, development manager for Crescent Resources. "Lennar has been very successful in its current neighborhood called Garrison Mill at Springfield, selling 16 homes since January. Buyers have a demonstrated interest in Lennar's product at Springfield, and we are pleased to be expanding the company's offerings in the community."

Just 20 minutes from uptown Charlotte, Springfield offers residents a wealth of recreational opportunities, access to a highly ranked school system and low property taxes. Winding through the community is an 18-hole daily-fee golf course that shares the community's name. Orchard Park, the community's five-acre amenity park, features a family activities center, three swimming pools, six tennis courts, a playground and a pavilion. The 2,300-acre Anne Close Springs Greenway is adjacent to Springfield, and a trail leads from the community to the Springs Farm Market next door.

The new phase features homesites that overlook the 12th and 13th holes of the golf course as well homesites that back up to common areas. Development of the phase is expected to be complete in the fourth quarter, and home construction will start before the end of this year.

"Springfield has been a great community for Lennar," said Jon Hardy, division president for Lennar. "We are excited about the opportunity to continue our current offering into a new phase. The combination of Springfield's lifestyle and Lennar's 'Everything's Included' value has been warmly received by the Fort Mill community. With four-, five- and six-bedroom floor plans, families of all kinds are able to call Springfield home."

Crescent started construction on a phase of 43 homesites in May which will also be complete this year. David Weekley Homes committed to 38 of these homesites with Evans Coghill Homes taking the other five.

The community takes its name from the original Springs family homestead, which was completed in 1806 and is still standing today. For more information about Springfield, visit www.springfield-crescent.com.

About Crescent Resources

Crescent Resources' single-family and resort residential communities are widely recognized for their high-quality innovative land plans. Among Crescent's communities are Palmetto Bluff in Bluffton, S.C.; Springfield and Chapel Cove near Charlotte; Rough Hollow near Austin in Lakeway, Texas; The River Club in the Atlanta area; BridgeWater in Lakeland, Fla.; and Grand Hampton in New Tampa, Fla. Crescent communities can also be found on Lake James near Morganton, N.C., and in South Carolina on Lake Keowee near Clemson.

Crescent Resources is a real estate development company with interests throughout the southeastern United States. Based in Charlotte and established in 1969, Crescent Resources is known for its single-family, multifamily and resort residential communities. Crescent also owns and manages business and industrial parks and shopping centers. Visit www.crescent-resources.com

About Lennar

Lennar Corporation, founded in 1954, is headquartered in Miami, Florida and is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and retirement homes in communities that cater to almost any lifestyle – such as urban, golf course, Active Adult or suburban communities.

For more information about Lennar, visit www.lennar.com.

SOURCE Crescent Resources, LLC



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