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April, 2006

Corriente Condominium Residences-Update

2006 marks the beginning transformation of 7601 E. Indian Bend Rd. into Corriente Condominium Residences, Starpointe Communities' next luxury Scottsdale community.

This limited edition community will consist of 192 homes in eight three-story buildings with four floor plans ranging from 1000 to 1550 square feet in one-, two- and three-bedroom options. With an extraordinary location, contemporary homes, and full amenities including underground parking, Corriente has it all.

Demolition of the now closed Holiday Inn Sunspree on the site was originally expected to begin in late 2005 but has been delayed to begin later this month. Sales are currently anticipated to begin in the Summer or Fall 2006.

Tentative Timeline

March 2006—Demolition Begins
Summer 2006—Demolition finishes, work begins on underground parking garage Summer/Fall 2006—Sales begin
End of 2006/Early 2007—Garages are finished; vertical construction begins
End of 2007—First closings/move-ins
Fall 2008—Community completed

We will do our best in the coming months to keep you apprised of our anticipated sales date. Pricing and sales procedure have not yet been determined. More information on floor plans, site plans and features will be available closer to sales beginning.

This information was current at the time it was published.

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