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2010 Stapleton Home Sales Continued Upward Trend

Posted on February 14, 2011

For Immediate Release:

February 9, 2011

Contact:
Tom Gleason (Forest City Stapleton, Inc.)
(303) 382-1800 (o)
(303) 324-6393 ( c )
tgleason@stapletondenver.com

2010 Stapleton Home Sales Continued Upward Trend

New Central Park West neighborhood now under development

Denver---Stapleton home sales continued a positive trend in 2010, bucking a national decline in new and existing home sales across the nation, John S. Lehigh, president of Forest City Stapleton, Inc. said today.

Lehigh said homebuyers purchased 453 homes at Stapleton in 2010, an increase over the 412 homes purchased in 2009.  In 2010, the homes purchased at Stapleton were comprised of 280 new homes with the balance involving 173 resales.  During the previous year, those numbers were 238 and 174, respectively.  Lehigh said the 2010 sales have built momentum for the launch of Central Park West, Stapleton’s next new residential neighborhood.

“Stapleton continues to enjoy strong housing sales in spite of a very difficult economy,” Lehigh said.  “Our homebuilders offer a range of housing types and prices that has strong appeal to the market, capitalizing on Stapleton’s reputation as one of the most desirable and successful new neighborhoods in the nation.

“We are now carrying that momentum forward to the development now underway for the new Central Park West neighborhood,” Lehigh added.

Central Park West is immediately adjacent to the new Swigert-McAuliffe International K-8 school Denver Public Schools will open at 35th and Syracuse in August of this year. One of the last two neighborhoods to be developed on the south side of I-70, Central Park West is centrally located and benefits from some of the best amenities Stapleton has to offer.  The E. 29th Ave Town Center is a 5 minute walk to the south and the 80-acre Stapleton Central Park is located across the street to the east.  The Quebec Square Retail Center is immediately north of 35th Avenue and the future Stapleton transit oriented development and an RTD FasTracks rail stop will be located to the north of the Central Park West neighborhood along Uinta Street.  Central Park West will be comprised of approximately 375 homes ranging in price from the mid $100,000s for row homes to more than $700,000 for single family detached homes.

Stapleton 2010 Housing Numbers
“Central Park West has unique open space and landscape features designed to define its unique character and identity,” said Heidi Majerik, director of development for Forest City Stapleton, Inc.  “The use of integrated linear open spaces called “mews” will provide public open space immediately fronting homes, becoming the focus of the neighborhood and a place for residents to interact and foster a sense of community.“

Majerik said Central Park West will have energy efficient “smarter” homes that increase Stapleton’s residential sustainability performance to the highest levels to date.  Builders selected by Forest City to build homes in this new neighborhood include Infinity Home Collection, New Town Builders, Wonderland Homes, Parkwood Homes, KB Home, David Weekley and Standard Pacific.

Stapleton in the HGTV Spotlight
Stapleton’s reputation as one of the nation’s most livable new urban communities was further enhanced in the fall of last year when Home and Garden TV selected Stapleton as the location to build a “green” home that will be given away this spring as part of a national promotion.  Built by Infinity Home Collection, the custom-built 2,400 square foot LEED Platinum home is located at 35th and Wabash in the North Central Park Neighborhood.  The HGTV 2011 Green Home will be open for public tours beginning this spring.

About Stapleton
The redevelopment of the 4,700 acre Stapleton International Airport commenced in May 2001.  Forest City is the master developer selected by the City of Denver to implement a development plan created by the citizens of Aurora, Denver and Commerce City who envisioned the former airport could become a mixed use and pedestrian friendly urban neighborhood. Currently Stapleton has an estimated population of more than 12,000 residents who live in 3992 homes and 484 apartments.  Stapleton also has more than 2 million square feet of new retail, approximately 500 acres of new parks and open space, and two Denver Public Schools elementary schools, with a third under construction for a scheduled opening in the Central Park West Neighborhood in August of this year.  Stapleton is also home to the award winning Denver School of Science and Technology, one of the most successful schools in the Denver Public Schools system.

About Forest City
Forest City Enterprises, Inc. is an NYSE-listed national real estate company with $11.8 billion in total assets. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States. For more information, visit http://www.forestcity.net

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