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March, 2006

Starpointe Closes on 6.5 acres in Chandler, Plans Condominiums

Scottsdale, AZ—Arizona's largest condominium developer closed last week on 6.5 acres at 56th Street and Harrison Street in Chandler. Starpointe intends to develop an upscale 100 unit condominium community called The Residences at Chandler Pavilions.

Designed by renowned architects, McClaren Vasquez, this community will feature primarily two and three storey town home style units ranging from 1,100-2,000 SF. All homes have 2 car garages and interiors built to Starpointe's exceptional standard for detail and design. Sales are expected to begin in the fall of 2006.

The land was purchased for approximately $6 million from The Greystone Group, Inc. and is located in the Chandler Pavilions multi-use development. Directly north of the property is Casa Paloma, an open-air shopping center featuring high end and specialty retail shops, restaurants and services, including AJ's Market, Sur La Table, Ann Taylor and Banana Republic.

No further details are available at this time.

Starpointe Communities has a nine year history of providing exceptional value and quality to homeowners throughout the valley with over 2100 homes built. To learn more about Starpointe, visit www.starpointeproperties.com.

Media Contact: Lynlee Sullivan (480) 609-6779; lynlee.sullivan@starpointeproperties.com

This information was current at the time it was published.

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