SOURCE: AV Homes

AV Homes

October 21, 2013 10:35 ET

AV Homes Purchases 86 Home Sites for New Community in Arizona

New Community Part of Cortessa in Phoenix

SCOTTSDALE, AZ--(Marketwired - Oct 21, 2013) - AV Homes, Inc. (NASDAQ: AVHI) has announced the purchase of 86 home sites in the Cortessa master-planned community in western metropolitan Phoenix.

The new community will be marketed under the name "Mountain Trails at Cortessa." The community will offer single and two-story homes ranging in size from 1,560 to 3,600 square feet with an estimated starting price in the $160s. These homes will feature a variety of beautiful exterior elevations and open living concepts with sales anticipated to begin in December 2013.

The Cortessa community captures a small town feeling along with beautiful amenities, easy access to freeways and the White Tank Mountain Regional Park. Residents of Cortessa enjoy five parks, 88 acres of landscaped common area maintained by a homeowners association, nearby K - 12 schools and beautiful views of the White Tank Mountains. Cortessa is just one and a half miles west of the Arizona Loop 303 freeway, which will provide easy access to employment and entertainment corridors. And at just two and a half miles away, the White Tank Mountain Regional Park offers a wealth of outdoor activities from hiking miles of trails to mountain biking on the park's competition track. More information on Cortessa can be found on the HOA website at http://cortessaliving.com/.

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. It 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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