AV Homes

April 29, 2014 08:05 ET

AV Homes Announces 72 Homes for Vermillion

Homebuilder to Construct Traditional Homes in Huntersville Master-Planned Community

CHARLOTTE, NC--(Marketwired - Apr 29, 2014) - AV Homes, Inc. (NASDAQ: AVHI) has announced its next community for the company's Carolinas division in the Vermillion master-planned community in Huntersville, North Carolina. This will be the national homebuilder's second traditional community in the Carolinas and will feature 72 homes. Land development is expected to begin April 2014 and the first lots will be available third quarter 2014.

Located on 400 acres in Huntersville, just 1 mile from I-77, Vermillion represents a return to gracious living and authentic small town quality of life. Vermillion offers miles of wooded forests perfect for exploring, playgrounds for the children, a competition-sized pool and a splash pool. With a focus on creating a close knit community, Vermillion offers neighborhood gathering spaces, the village square, outdoor pavilion and open park areas.

AV Homes is known for its successful communities such as Solivita, Kissimmee's four-time winner as one of the top active adult communities, and CantaMia in Goodyear, Ariz., named one of the 50 Best Communities in the U.S. by Where To Retire magazine. Last year, AV Homes purchased its first community in the Carolinas with a 650 unit 55-Plus community in the planned 357-acre mixed-use development of Bethpage in Durham, North Carolina. AV Homes has begun land development and anticipates that pre-sales will start at Bethpage in the first quarter of 2015.

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 with its new Carolinas division already in development of its first community. Its principal operations are currently located at Solivita near Orlando, and CantaMia near Phoenix. AV Homes currently builds homes for people of all ages including active adult communities intended for those 55 years and older in both the Central Florida and Phoenix metro homebuilding markets.

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