SOURCE: AV Homes

AV Homes

October 16, 2013 08:07 ET

AV Homes Expands Into Carolinas Market

Bill Kiselick Appointed Carolinas Division President

SCOTTSDALE, AZ--(Marketwired - Oct 16, 2013) - AV Homes, Inc. (NASDAQ: AVHI) has announced its expansion into the Carolinas market with a new division office led by Bill Kiselick. This announcement coincides with AV Homes' first land purchase in Durham, North Carolina, in the Bethpage master planned community.

Kiselick has spent over 25 years in the North Carolina real estate market, most recently serving as division president for Mattamy Homes' Carolinas Division. Prior to Mattamy, he worked for MI Homes of Charlotte, Hills Communities of Charlotte, and Fortis Homes where he oversaw divisions for each company. He is a member of the National Association of Home Builders, the North Carolina Association of Home Builders and the Home Builders Association of Charlotte, for which he served as president in 2010. Kiselick holds a Masters in Business Administration from Wake Forest University and a Bachelor of Science in administration/management services from Carnegie Mellon. He joined the AV Homes team as the Carolinas Division president on October 7.

AV Homes has purchased a 650 unit active adult community in the planned 357-acre mixed-use development of Bethpage in Durham, North Carolina. The Bethpage master plan incorporates conventional neighborhood design principles and is conveniently located in a mostly wooded area of meandering streams between the Raleigh-Durham Airport and Research Triangle Park. Bethpage is planned for 1,200 residential and multi-family units, a 20-acre retail center and an affiliated office park. AV Homes plans to also build traditional neighborhoods in both the Raleigh-Durham and Charlotte markets. AV Homes expects to begin land development in the first quarter of 2014 and anticipate that sales will start the first quarter of 2015. Plans include a fully amenitized community with a 14,000 square ft. recreation center with fitness, aerobics, outdoor pool, tennis, pickle ball and bocce.

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. www.avhomesinc.com

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