FOR IMMEDIATE RELEASE: January 17, 2003	CONTACTS: Stacey Andrews Lawscomm (on behalf of the HBA) (303) 755-4400, stacey@lawscomm.com Tom Gleason Forest City Stapleton, Inc. (303) 382-1800 tgleason@fcdenver.com Jennifer Gore Urban Estate Program (303) 759-5121 Jennifer@jgu.com
Stapleton Selected to Host 2003 Parade of Homes “Denver’s Next Great Neighborhood” to Showcase Urban Estate Homes
DENVER, January 16, 2003 – The Home Builders Association of Metropolitan Denver (HBA) and Forest City Stapleton, Inc. officials announced today that Stapleton will be the site of the 2003 Parade of Homes. The 18th annual Parade of Homes presented by the HBA from August 30 to September 27, 2003 provides an opportunity to tour stunning custom homes and visit Stapleton -- one of the most ambitious urban redevelopments in the country. The Parade of Homes will kick off Stapleton’s Urban Estate Program, which will provide homes starting in the $650,000s. The Stapleton Urban Estate homes will range from 3,200 to 3,800 square feet on lots sized from approximately 7,200 to 10,800 square feet. The popular annual showcase of homes adds a new dimension to the first residential neighborhood at Stapleton, which has been comprised of homes beginning in the mid $100,000s and extending to the mid $500,000s. For more information about the Stapleton Urban Estate Program, call Jennifer Gore at (303) 759-5121. Forest City selected six builders for the Parade including, NuWest Custom Homes, Touchstone Homes, Harvard Communities, Decherd Custom Homes, Infinity Home Collection and Latsis Custom Homes. Each of the selected builders will build homes that are designed with the traditional architecture of historic Denver combined with the modern conveniences necessary for today’s families. The Parade of Homes will be located along neighborhood parks and greenways that make up portions of Stapleton’s 1,100 acres of new open space. “The 2003 Parade of Homes will enable us to showcase our Urban Estate homes that will provide another alternative in the broad range of housing types and prices our builders are creating at Stapleton,” said Denise Gammon, vice president-residential development for master developer Forest City. “With their proximity to parks and open space and convenient access to our first town center, we expect the Urban Estate homes to receive an enthusiastic reception from buyers who want traditional architecture and the most modern conveniences in an urban neighborhood that is rapidly setting the standard for “the art of urban living.’” “Stapleton adds a unique flavor to the Parade of Homes event,” said Vicki Pelletier, director of operations for the HBA. “Stapleton offers urban living that combines the character of Denver’s historic neighborhoods with 21st century technology. The Parade of Homes at Stapleton will offer everyone a chance to see the transformation of Denver’s former airport into a premier mixed-use community.” The Parade of Homes, presented each year by the HBA, is a perennial favorite in Colorado. Visitors come to the Parade to dream, look for decorating ideas and get a glimpse of the latest technology trends. Typically, the Parade consists of six to eight custom homes featuring unique architecture, the latest home technologies and lavish furnishings. The 2002 Parade of Homes took place at Amber Ridge at Daniel’s Gate. More than 112,000 people attended the 2002 Parade. From the very beginning, the builders selected by Forest City for the first neighborhood at Stapleton have used lotteries to respond to homebuyer demand, which greatly exceeds the number of homes available. All Stapleton homes must at a minimum meet or exceed the “Built Green” standards created by the HBA, making them less expensive to heat and cool, more durable, and less costly to maintain. Stapleton will be the largest “Built Green” community in Colorado. The homes in Stapleton’s first residential neighborhood are within walking distance of the Quebec Square Regional Retail Center at Stapleton, which features anchor stores Home Depot, Wal-Mart Supercenter and Sam’s Club, as well as other retail that includes Office Depot, Just For Feet, Sprint, Radio Shack, Papa John’s Pizza, Famous Footwear, Great Clips and Tires Plus. In the heart of the first residential neighborhood at Stapleton, work is underway on the 29th Avenue Neighborhood Retail Center that will bring a King Soopers to open in summer 2003, and an assortment of small shops and restaurants to Stapleton in late summer or early fall of this year. To the east, Denver Public Schools is constructing a unique campus that will house an elementary school and the Odyssey Charter School in shared facilities that are being prepared for an opening in August of 2003. About the Home Builders Association of Metropolitan Denver The Home Builders Association of Metropolitan Denver is a trade association with more than 1,400 corporate members that serves as the leading voice for residential construction in the six-county Denver area. The HBA provides educational programs for contractors and is also home to the Council of Professional Remodelers and the Built Green Colorado program. In addition to the Parade of Homes, the HBA also hosts the Tour of Homes, an annual homebuyer’s event. For more information about the HBA, visit their website at www.hbadenver.com. About Forest City Forest City Enterprises, Inc. (NYSE:FCEA) (NYSE:FCEB) is a $4.9 billion NYSE-listed real estate company headquartered in Cleveland, Ohio. The Company is principally engaged in the ownership, development, acquisition and management of commercial and residential real estate throughout the United States. The Company's portfolio includes interests in retail centers, apartment communities, office buildings and hotels in 20 states and the District of Columbia. More information about the redevelopment of Stapleton is available on the web at www.StapletonDenver.com or www.fceinc.com