Standard Pacific Homes to Build in Chapel Cove on Lake Wylie

Company will break ground on new homes first quarter of 2011

Dec 14, 2010, 10:24 ET from Crescent Resources

CHARLOTTE, N.C., Dec. 14, 2010 /PRNewswire/ -- Signifying positive momentum in the Charlotte housing market, Crescent Resources, LLC announced that Standard Pacific Homes plans to purchase 33 homesites in Chapel Cove. Standard Pacific has acquired five homesites and is committed to purchasing an additional 28 homesites. This will establish a new section within the existing community.

To meet market demand, Standard Pacific has developed a new portfolio of home plans specifically designed for Chapel Cove. These plans range from 2,600 to 3,800 square feet and will start in the $300,000s, including the price of the home and homesite. Standard Pacific will break ground in December on a sales center to open in early 2011, with new home construction following soon after.

"Standard Pacific Homes adds welcome diversity of product and price to Chapel Cove," said James Martin, vice president with Crescent Communities. "Standard Pacific shares Crescent's commitment to building communities of great quality. The best evidence of this is their team has won the JD Power Award for Highest Customer Satisfaction in the Charlotte market three out of the past five years."

Crescent Communities, the residential development division of Crescent, opened Chapel Cove in 2007 across from its other Lake Wylie community, the Sanctuary. A 10-minute drive from I-485, Chapel Cove offers 300 acres of large wooded homesites accented by pathways that wind through pocket parks. Homesites for custom homes are still available, and homes built in the community are governed by the community's existing covenants and architectural guidelines.

For information on Standard Pacific's plans in Chapel Cove, contact Leslie Loveless at (800) 787-0414. For information on available homesites in Chapel Cove, contact Rodney Jones at (877) 295-0950. Visit www.chapelcove-crescent.com.

About Crescent Resources

Crescent Resources is a real estate development company with interests throughout the southeastern United States. Established in 1969, the Charlotte-based company develops single-family, multifamily and resort residential communities. Crescent also owns and manages business and industrial parks and shopping centers. Visit www.Crescent-Resources.com for more information.

About Standard Pacific Homes

Standard Pacific Homes, one of the nation's largest homebuilders, has built more than 110,000 homes during its 44-year history. The company constructs homes within a wide range of price and size targeting a broad range of homebuyers. Standard Pacific Homes operates in many of the largest housing markets in the country with operations in major metropolitan areas in California, Florida, Arizona, the Carolinas, Texas, Colorado and Nevada. For more information about the company and its new home developments, please visit our website at: www.StandardPacificHomes.com.

SOURCE Crescent Resources



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