WESTPORT HOMES TO DEVELOP HOUSTON'S MOST UNIQUE NEIGHBORHOOD

Custom homes now available in "The Island" at Shadow Creek Ranch

HOUSTON, TX (April 16, 2002) – Shadow Creek Ranch, the newest master-planned community that is changing Houston's growth pattern, continues to make headway as two prominent homebuilders jump on board.  The principals at Shadow Creek Ranch announced today that they have finalized an agreement with Westport Homes. Westport joins Perry Homes and Legacy Homes as the team of builders that will build the first 500 homes at Shadow Creek Ranch. 

"I'm very pleased we were able to reach an agreement with Westport Homes," said Carlo Ferreira, Principal of Shadow Creek Ranch Development Co. "They are well known and highly regarded throughout the industry as two of the top homebuilders in the state of Texas."

The addition of Westport fills the void and lack of custom homes being built on the 288 corridor.

The first team of builders will offer an array of high quality home designs that range in price from the mid $100s to the $700s. These homes ranging from 2,000 to over 5,500 square feet will appeal to every type of buyer – from large families to empty-nesters and the single professional.

"When you combine our location ­– 15 minutes from downtown and the Texas Medical Center – with great homes in a very carefully planned atmosphere, the result is a very successful residential community that will attract even the most selective homebuyer.  Our community will be especially appealing to doctors and top-level executives working in these high-growth areas of town," said Ferreira. 

Emerald will offer homes from their Classics Series on both 60-foot and oversized homesites. They will begin construction on their first model home this summer in the neighborhood of (Insert Name), and will begin accepting home and homesite reservations at that time. The Emerald designs will range in size from 2,100 to 3,200 square feet, with prices from the $170s to low $200s.  The super, energy efficient designs are part of Emerald's Classics Series that has enjoyed great success in other communities since 1995.

 "We're excited to be a part of what we feel will be the most significant community on the 288 corridor," said Mark Welch, vice president land acquisition / development for Emerald Homes. "We will offer between 12 and 15 different home designs and each one will be a part of Emerald's nationally recognized energy efficient program called Emerald For Life."

Custom homes will also be available at Shadow Creek Ranch as Westport Homes will offer an array of custom designs ranging in size from 3,500 to over 5,000 square feet in "The Island," Shadow Creek's
most unique neighborhood. 

"When the developers approached me about building custom homes at Shadow Creek Ranch, I jumped at the opportunity to get in at the beginning of what will be another very successful community on Highway 288," said David Moore, president and chief executive officer of Westport Homes.  "We expect to attract the homebuyer who works downtown or in the medical center and is looking for a luxury custom home that is close to work, but also close to all the extracurricular activities this city has to offer."

Almost completely encircled by water, "The Island" features oversized estate homesites, several of which are cul-de-sac lots, spanning anywhere from 9,600 to nearly 20,000 square feet in dimension.  Nearly half of Westport's homesites are waterfront and will offer residents scenic vistas of the glistening lakes that encompass the community. 

"Custom homes are in short supply on 288.  There is high demand for luxury custom homes in this area due to the economic growth and new jobs being created downtown and in the medical center," said Ferreira.  "The Island will meet this demand as Westport Homes introduces totally new custom home designs that take advantage of the lake frontage and scenic views."

While the majority of Houston area planned communities have driving times in excess of 45 minutes, residents of Shadow Creek Ranch will have the shortest commute to the heart of the city of any master plan community in Houston.  The Texas Medical Center, The Galleria, Hobby Airport, Reliant Stadium and Rice Village are all just a stone's throw away.  A 3,300-acre, master-planned community, Shadow Creek Ranch is located just 15 minutes south of downtown Houston's central business, cultural and entertainment district. Upon completion, Shadow Creek Ranch will encompass approximately 12,000 residences including single-family homes, multi-family and senior housing units.

Central to the theme of the community is a 300-acre system of lakes. The lakes are positioned to offer scenic views from almost every vantage point within Shadow Creek Ranch. In addition to lakes, the community will also feature commercial, industrial, civic and recreational sites such as schools, churches, medical facilities, day care, City Hall Annex, police and fire stations, grocery stores, shopping center, banks, library, and multiple day-care centers creating an estimated 5,000 jobs within the community.

Perry Homes and Legacy Homes have already begun construction on the first model homes at Shadow Creek Ranch.  Both homebuilders are currently accepting home and homesite reservations.  For more information on home designs offered by either of these builders, please visit their temporary sales trailers located on-site at Shadow Creek Ranch.