DC Ranch Desert Parks Village Home Models Opening Soon, Initial Sales Exceed $73 Million

SCOTTSDALE, Ariz. (October 20, 2004) - Homebuyers will soon have the opportunity to explore 13 home models in DC Ranch's latest neighborhood, Desert Parks Village, which already has garnered more than $73 million in sales since pre-sales began in April.

By November, four premier Valley homebuilders will begin showcasing their distinctive Desert Parks Village home models at this classically designed neighborhood within DC Ranch in north Scottsdale.

Since April, more than 120 Desert Parks Village homes have been sold, which has exceeded sales projections prior to completion of their models. To keep up with demand, builders are releasing additional homes for sale ahead of schedule.

"The response to the announcement of Desert Parks Village was immediate and enthusiastic," explained Brent Herrington, vice president of DMB and general manager of DC Ranch. "This village, crafted with elements reminiscent of the great classic historic neighborhoods, provides a unique way to experience living at DC Ranch."

An array of highly differentiated architectural styles is presented in Desert Parks Village, including Spanish Colonial, Monterey, Mission and Hacienda; Ranch Hacienda; Western Regional Ranch Territorial; and Craftsman Bungalow. Cottage and manor homes, single-family homes and luxury rentals are offered.

Engle Homes is presenting the Villas, starting at 1,350 square feet, pricing still to be determined. Ashton Woods is offering Park Homes and Manor Homes, priced from the high $400s and starting at 1,700 and 1,853 square feet. Engle Homes also offers The Estates, with prices beginning in the mid $600s and starting at 2,700 square feet. Maracay Homes has created Desert Hacienda homes, which begin in the low $700s and start at 2,600 square feet. Monterey Homes will introduce Terrace Homes, priced from the high $500s and starting at 2,800 square feet; and next summer, P.B. Bell plans to unveil their luxury rentals, Desert Parks Vistas, with rental rates from $950 to $1,500 per month and ranging from 850 to 1,400 square feet.

Upon completion, Desert Parks Village will include more than 820 homes in a neighborhood featuring tree-lined streets, inviting parks and intimate residential settings. Unique design elements such as elevated front porches and garages positioned to the back of some homes will promote front-of-the-house living and enjoyment of neighborhood surroundings.

A new community center, to be called Desert Parks Community Center, is expected to open in 2006 and will offer a multi-purpose space, half-court basketball and kids' play area. An additional 2.5 miles will be added to the community's path and trail system, providing pedestrian connectivity to Copper Ridge Elementary and Middle School and eventually connecting to the McDowell Sonoran Preserve. The new stretch also is planned to eventually link to the City of Scottsdale regional trail system. Already, DC Ranch offers 13 miles of interconnected paths and trails.

Nearby is Market Street, a 30-acre, upscale mixed-use neighborhood center within DC Ranch that includes 300,000 square feet of service retail, boutique retail, dining and entertainment, and office space.

Desert Parks Village homeowners can enjoy all of DC Ranch's featured community amenities including Desert Camp, a nine-acre recreation complex that offers a workout facility, basketball and tennis courts, two swimming pools and a variety of civic, cultural and other recreational opportunities; Copper Ridge Elementary and Middle School and a rural/metro fire and police public safety facility. Residents have access to on-site computers and the community's Intranet, RanchNet®.

Homeowners also may apply for membership in The Country Club at DC Ranch, which enjoys a reputation as one of the Valley's premier private golf and social clubs.

DC Ranch is a nationally acclaimed private golf and residential community located in the western foothills of the McDowell Mountains, in the geographic center of Scottsdale. DC Ranch presents an exclusive desert lifestyle and encompasses 3,700 acres of developed land. The community is home to two, 18-hole private championship golf courses: The Country Club, redesigned by Tom Lehman and John Fought, and The Silverleaf Club, designed by Tom Weiskopf.

DC Ranch has a planned build out of eight to 10 years, and is zoned for residential units, schools, office and retail space, golf course property and extensive park and open space. For additional information, contact the DC Ranch Welcome Center on Market Street at DC Ranch or call (480) 502-2725.