FOR IMMEDIATE RELEASE: August 30, 2001	CONTACTS: Tom Gleason (303) 382-1800 Andrew Hudson (720) 865-9016 Anya Breitenbach (303) 292-6655
Forest City Announces Stapleton Homebuilders
Mayor Webb says Stapleton to have “Denver’s next great neighborhoods Denver—Mayor Wellington E. Webb joined Forest City today in announcing seven builders who will construct homes in the first neighborhood at Stapleton, offering a wide range of home types and prices within walking distance of new jobs, schools, retail, public transportation and open space. The homebuilders selected for the first neighborhood of for-sale homes are McStain Neighborhoods, John Laing Homes, Parkwood Homes, New Town Builders, Wonderland Homes, KB Home, and Trimark Communities. The builders were selected after Forest City talked with nearly one hundred homebuilders that had expressed interest in Stapleton. The master developer for Stapleton made its selections based on each homebuilder’s ability to meet Stapleton’s high standards of design and construction, as well as their ability to create a diverse range of housing types and prices. The first model homes will be available this coming spring. “Stapleton will have homes accommodating everyone from receptionists to executives, all within walking distance of schools, offices, public transportation, retail and open space,” said Greg Vilkin, president of Forest City Stapleton, Inc. “It will be a community of urban neighborhoods that enable people to leave their cars at home and gain more time in their daily lives for family and friends.” “We are fortunate to have the level of talent in the developers that have been selected for the construction of new homes at Stapleton,” Mayor Webb said. “This announcement also reflects our communities’ commitment to energy conservation and the environment in general. Home energy bills are the largest on-going expense associated with home ownership. A "green" home will provide energy savings for the life of the home, creating an economic incentive for the buyer to purchase a “Built Green” home.” The first residential neighborhood at Stapleton will include the 29th Avenue Town Center, which will open late next year with rental housing above small retail shops, a 2.5 acre town green, a five story office building and a 58,000 square foot grocery store. With the addition of one or more workforce housing builders who will be announced in the near future, housing prices in this first phase will range from the high $90s for flats, town homes, and duplexes to the high $500s for luxury homes. More than 80 for-sale homes will be priced to be affordable to teachers, nurses, service and retail employees and other “workforce” households whose annual incomes range between $30,000 and $56,000. This neighborhood has been sited within a framework of open space provided by the 80-acre urban park to the north, a linear greenway to the south, Westerly Creek open space to the east, and Fred Thomas Park to the west. The homebuilders for the first phase at Stapleton will offer the following types and prices of housing: McStain 303.494.5900 www.mcstain.com - Row Homes from the low $200s and single family manor and village homes from the low $300s John Laing Homes 866.366.0660 www.johnlainghomes.com - Village and Cottage homes from the high $200s Parkwood Homes Jennifer Gore 303.759.5121 jennifer@jgu.com - Village and Cottage homes from the high $200s New Town Builders 303.707.4400 - Village and Cottage homes from the mid $200s Wonderland Homes William Orton 303.604.9849 ext. 112 www.wonderlandbuilders.com - Garden Court homes from the mid $200s KB Home 888.KB HOMES www.kbhome.com - Green Court homes from the high $100s and village and cottage homes from the low $200s Trimark Communities 800.217.7131 www.trimarkcommunities.com - Flats and town homes combined in a large Mansion Home from the mid $100s Workforce Housing (Builders to be announced) For information call Jacky Morales 303.382.1800 www.StapletonDenver.com Flats, town homes and duplexes from the high $90s “These are the first homes in what will become the largest “Built Green” development in Colorado,” Mr. Vilkin added, referring to the standards set by the Home Builders Association of Metro Denver (HBA). The Built Green program encourages homebuilders to use technologies, products and practices that will provide greater energy efficiency, reduced pollution and “off-gassing” of materials. The standards are designed to improve indoor air quality, lower levels of water consumption and preserve natural resources, while providing superior durability of materials, and a reduction of overall maintenance costs. Built Green is a program that uses buyer demand, market education and builder training to encourage builders to construct higher quality homes. Forest City has made the Built Green program a requirement for its Stapleton homebuilders. Stapleton has also been named a demonstration project of the Partnership for Advancing Technology in Housing (PATH), a partnership between private sector businesses and the federal government designed to speed the development of technologies that improve the quality, affordability, durability, energy efficiency and environmental performance of homes to the benefit of the homebuyers. Mr. Vilkin said that Stapleton’s rental housing program will be announced later this year, with first occupancies expected in late 2002. Included in the rental program will be 100 affordable senior units. Forest City Stapleton, Inc., is a wholly owned subsidiary of Forest City Enterprises, Inc. (NYSE:FCEA) and (NYSE:FCEB). The company signed an agreement in February 2000 to purchase all 2,935 acres of developable land at Stapleton. It took title to its first 272 acres in May of this year.