PORT ST. LUCIE, Fla., Jan. 7, 2013 (GLOBE NEWSWIRE) -- The Port St. Lucie area will soon be drawing the attention of some of the nation's 78-million Baby Boomers who are searching for their perfect retirement destination. In early February AV Homes will unveil Florida's newest active adult community for people 55+ in the Tradition master-planned community, located just east of I-95 between the Tradition and Crosstown Parkways.
Vitalia at Tradition is planned for 1,200 single-family homes, a new 24,000-sq.ft. clubhouse, and an array of outdoor amenities such as a heated pool, tennis, pickleball and an innovative golf practice area. The homes, ranging from 1,400 to almost 2,500 sq. ft. will be priced from the $170s.
Vitalia may be one of America's newest active adult community brands, but AV Homes is a company with nearly 50 years of community development expertise. The company is best-known for Solivita, its 4,300-acre active adult community near Orlando. It also serves the 55+ market with communities near Phoenix, Arizona. The company launched its new Vitalia brand in early 2012.
"Vitalia at Tradition is a community that's targeted to meet the lifestyle ambitions of active adults who are now returning to the market," said Executive Vice President Carl Mulac. "The economy of the last five years caused a great many active adults to re-evaluate their retirement plans, and we designed Vitalia as a place where they can rekindle their dreams," he added.
Mulac said Vitalia at Tradition meets many of the criteria that today's active adults are seeking. It's a smaller and more intimate community, breaking away from the model of the large-scale communities that dominated the market pre-2006. It doesn't include golf, as many home buyers see that as an expense they can do without. "There's great public golf throughout the area, and we think our golf practice amenity will be an innovative way to meet the needs of our golf-minded customers," Mulac said.
The homes at Vitalia were designed following on-site market research by award-winning architect Michael Woodley. In order to understand the customers' needs and desires, Woodley actually lived at a Vitalia community for a short period to gain perspectives about the way they lived in their homes. The result was smaller but more functional floor plans that integrate outdoor living into the home environment. Vitalia at Tradition will open with nine floor plans, three of which will be decorated models, with the six remaining plans available for viewing in Vitalia's various neighborhoods. One of the plans is a finalist in the National Association of Home Builders 50+ Housing Awards competition. The winners will be announced in late January.
"We're excited about the potential of our newest community because it's in a great location. Tradition already has a wealth of retail establishments, a new hospital is under construction, and it's also convenient to all the great lifestyle elements of Port St. Lucie, including some beautiful beaches," Mulac said.
AV Homes in planning a Grand Opening for Vitalia at Tradition in early February. The community's website, www.vitaliahomes/tradition has additional information on the homes, floor plans and prices. It plans to finalize its plans for the clubhouse in the weeks to come and begin construction in the spring with plans for a Grand Opening in late 2013.
AV Homes, Inc. is engaged in homebuilding and community development in Florida and Arizona. Its principal operations are conducted at its active adult communities of Solivita near Orlando, Florida and CantaMia near Phoenix, Arizona. The company also builds conventional communities for people of all ages in the Orlando and Phoenix areas under its Joseph Carl Homes brand. AV Homes in publicly held and traded on NASDAQ under the symbol AVHI.
Contact: Ken Plonski 480-214-7408;
This news release contains "forward-looking statements" within the meaning of the U.S. federal securities laws, which statements may include information regarding the plans, intentions, expectations, future financial performance, or future operating performance of AV Homes, Inc. Forward-looking statements are based on the expectations, estimates, or projections of management as of the date of this news release. Although our management believes these expectations, estimates, or projections to be reasonable as of the date of this news release, forward-looking statements are inherently subject to significant business risks, economic and competitive uncertainties, or other contingencies which could cause our actual results or performance to differ materially from what may be expressed or implied in the forward-looking statements. Important factors that could cause our actual results or performance to differ materially from our forward-looking statements include those set forth in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2011 and in our other filings with the Securities and Exchange Commission, which filings are available on www.sec.gov. At least 80% of active adult homes are intended for occupancy by at least one person 55 years or older. AV Homes disclaims any intention or obligation to update or revise any forward-looking statements to reflect subsequent events and circumstances, except to the extent required by applicable law.
Ken Plonski, Sr. Vice President of Communications
AV Homes, Inc.
480-214-7408
About AV Homes
AV Homes, Inc. was formed in 1970. It is best known for the development of Poinciana, an award-winning 47,000-acre master-planned community near Orlando, Florida. Today, the company is engaged in homebuilding, land development and other real estate operations in Florida and Arizona. Its principal operations are conducted at its 55 active adult communities – Solivita near Orlando, and CantaMia near Phoenix. It also builds homes for people of all ages in Central Florida and Phoenix through its Joseph Carl Homes brand.
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