Crosland Begins Development of Oak Creek in Pasco County

Oak Creek in North Tampa Will Result in 550 New Homes

Tampa, Fla., Oct. 25, 2004 – Crosland Inc., one of the Southeast’s leading real estate companies, has begun development of a 550-home community named Oak Creek in north Tampa. Located just northeast of Wesley Chapel in Pasco County, the community is being developed in conjunction with Mark Maconi, who has been a developer and builder in the area for more than 30 years.

Oak Creek contains several creeks and natural areas that have been carefully preserved. While protecting those elements, the development plan also maximizes the number of homes facing them so residents will enjoy views of water features and other conservation areas. Oak Creek will have a five-acre recreation center including a swim club, playground and picnic area.

The 200-acre community is east of Interstate 75 and north of State Road 54. Oak Creek’s main landscaped entry will be on Handcart Road, just north of the existing intersection with Eiland Boulevard. In the future, the project will also have access to the Zephyrhills bypass being constructed by Pasco County.

“Crosland’s veteran management team combined with my knowledge of the local market creates a great strategic partnership for developing Oak Creek and other communities in the Tampa Bay area,” said Maconi.

Crosland’s Florida office is led by Perry Reader, who was formerly president of the Disney subsidiary that developed Celebration in Orlando. Reader previously spent 14 years in the Tampa area with Scarborough Corp., where he ran the Land Development Division. Crosland also recently announced that it will develop two neighborhoods in Longleaf, a Traditional Neighborhood Development 30 miles west of Oak Creek in Pasco County.

All 550 single-family homesites in Oak Creek are under contract to three experienced builders: Suarez Housing, Inland Homes and Cardel Master Builder. Sales are expected to begin in spring 2005 for Oak Creek’s first phase, which includes 242 homesites. Home prices are expected to range from $170,000 to $230,000.

Cardel Master Builder: Innovation is how a company that started as a small builder of custom homes developed into one of North America’s top builders. Cardel Master Builder has a 30-year history defined by the company philosophy of “building excellence.” Based in the values of integrity and innovation, that philosophy has transformed Cardel’s growth from its roots as a Mom and Pop builder into a privately held family business operating in several North American cities. The Cardel product range includes luxury estate homes, multi-family projects and resort condominiums, but remains rooted in offering single-family homes of uncompromising standards and outstanding value. Cardel’s commitment to the Tampa market is made evident by its involvement in this new master planned community of Oak Creek. With a plethora of award-winning designs and a selection of excellent homesites, Cardel Master Builder sees its relationship with Crosland as the next big value for its customers.

Inland Homes will be represented by IH New Tampa Homes Inc., an independently owned and operated building company licensed to use the Inland Homes trademark. The Inland Homes family of builders closed more than 700 homes in 2003. Recently, Builder Magazine rated Inland Homes 93rd on its list of the nation’s 100 largest homebuilders. Home Buyers Warranty Corp. awarded Inland Homes the prestigious Diamond Builder Award for excellence in construction standards and customer satisfaction. Inland Homes will feature two decorated models at Oak Creek with prices projected to start in the mid $180s. For more information, contact Diane Vanasco or Melissa Hurley at 813.929.0799 or visit www.inlandhomes.com.

Suarez Housing, a respected name in the homebuilding business, has built homes in the Tampa area for more than 30 years. Robert J. Suarez has overseen day-to-day operations since its inception. The company philosophy is to go the extra mile when it comes to quality construction features. Currently Suarez is building in six locations and offers a variety of floorplans. A new design studio has opened to offer Suarez customers the best in design consultation and a wide selection of options to assist them in customizing their Suarez home.