Industrial News

The significant economic impact the community will have on Richmond (and the greater Houston area) was shared at the ground breaking ceremony and more than 80 local politicians, community leaders and local residents attended. Also presented were the unique features and amenities of Del Webb. Home construction is expected to begin in the fourth quarter 2008, with the first models projected for completion by spring 2009. Residents will be able to start moving in as early as summer 2009.

"This ground breaking ceremony marks an exciting step as we move closer to making this unique community a reality," said Kimberly Paulus, Director of Del Webb Operations in Houston. "Del Webb has been building active adult communities for more than 45 years, but this is the first time we've introduced our resort-living concept to Houston. We expect Del Webb to attract people who want to enjoy an active retirement without having to move away from family and the familiarity of the community where they've spent much of their lives."

The development of Del Webb will significantly enhance the area's growth by attracting thousands of residents who will support local businesses. Upon completion, the community is expected to generate approximately $8 million in property taxes annually with no burden on the school district.

Fort Bend County has been a premium destination for housing in recent years because it offers an attractive combination of major highways, commercial and medial facilities that drive employment, and comprehensive retail opportunities to serve its residents. Fort Bend County is a leader in new construction from the Houston Metropolitan Statistical Area (MSA), accounting for 8,441 housing closings in 2007 -- representing 20% of the Houston market.

The new Houston Del Webb community is expected to have approximately 1,500 homes along with expansive open spaces and water features. Paulus expects presales to occur in early 2009 and encourages people who have an interest in this community to join the VIP list by calling (866) 232.6072. For more information about Del Webb communities, please visit www.delwebb.com.

About Del Webb:
Award-winning Del Webb active adult communities provide a vibrant, facilitated lifestyle for individuals age 55 and better throughout America. The Del Webb concept began in 1960 in Phoenix and has grown to include more than 50 communities currently open for sale in 20 states. Pulte Homes, Inc., which acquired Del Webb in 2001, has been building homes since 1950 and currently operates in 51 markets and 26 states.

Websites: www.delwebb.com; www.pulte.com

About Caldwell Companies:
Founded in 1991, Caldwell Companies is a fully-integrated real estate services and development firm providing commercial and residential development, brokerage and property management. The firm is committed to the practice of doing business with a true sense of purpose - building community. Caldwell Companies is privately owned by Fred Caldwell and managed by senior managing partners. The goal of the company is to serve the commercial real estate needs of corporations and private equity investors by capitalizing on our market experience to gain distinct competitive advantages. Caldwell Companies and related investment ventures own, manage and market nearly six million square feet of office and office/flex space. Caldwell Companies' growing residential development team specializes in high amenity resort communities for a new style of residential living.

Websites: www.caldwellcos.com, www.townelaketexas.com, www.remingtonsquare.com