SOURCE: Sereno Canyon

Sereno Canyon

February 23, 2009 15:51 ET

Sereno Canyon Continues Transformation in North Scottsdale

Paving Within Phase One Is Complete

SCOTTSDALE, AZ--(Marketwire - February 23, 2009) - Sereno Canyon, one of the last custom estate gated communities in Scottsdale, Arizona has reached a significant construction milestone with the completion of roadways throughout phase one.

From the main entrance at 118th Street and Ranch Gate Road and continuing through phase one, thoughtfully placed roadways have been paved, greatly easing access to the natural desert terrain of this Arizona luxury real estate. Streets within Sereno Canyon are narrow and follow the natural curvatures of the land, minimizing impact on the environment yet maximizing the panoramic views from every homesite. Landscaping along these roadways is currently underway and will be completed by March 2009. Additionally, construction on the gate house for Sereno Canyon's private entrance continues and is slated for completion later this spring.

"This is a meaningful milestone in the development of Sereno Canyon, said Debbie Omundson, director of sales for the community. "As roadways are completed and buildings take shape, it's becoming more accessible, allowing us to more easily share its beauty with potential residents."

About Sereno Canyon:

Located at Ranch Gate Road and the 122nd Street alignment, Sereno Canyon features 128 custom Arizona lots for sale that average 2.5 acres in size, with prices ranging from the low $700,000s to $2 million. More than 60 percent of the 350-acre community will be preserved for open space, protecting view corridors and maintaining spacious homesites.

Nestled at the base of the McDowell Mountains, Sereno Canyon offers dramatic 360 degree views of the native desert, surrounding mountains, Tonto National Forest and Four Peaks. Surrounding mountains and federally-protected areas ensure the community will be minimally affected by city encroachment, while hiking trails accessible from the community allow residents access to secluded outdoor recreation. For more information on Sereno Canyon, visit www.serenocanyon.com or call 1-877-464-2418.

About Crown Community Development:

Crown Community Development is a division of Henry Crown Companies -- one of the nation's largest privately held business organizations. Crown's diverse interests range from real estate investments such as Rockefeller Center in New York City; operating companies like Great Dane Trailer; and high profile recreation/resorts such as Aspen Ski Company and the Ojai Resort in Ojai California. Additionally, the Crown family holds significant stock positions and board memberships in General Dynamics, Chase/JP Morgan, Sara Lee, and Hilton Hotels, as well as investment holdings in the New York Yankees and Chicago Bulls. Since 1973, Crown's mission has remained constant -- to envision and create memorable high quality communities that meld naturally into their surroundings and generate long-term value for landowners, municipalities, builders, residents and neighbors.