SOURCE: WCI Communities

WCI Communities

June 23, 2011 11:11 ET

WCI Communities Reports Robust New Home Sales During May

WCI's Residential Construction in South and Southwest Florida Shows Growth While National Figures Decline

NAPLES, FL--(Marketwire - Jun 23, 2011) - WCI Communities today announced brisk new home sales among its communities in South and Southwest Florida despite a U.S. Commerce Department's report this morning on disappointing new home sales during May.

The company announced that 50 percent of all home sites released in Parkland's Heron Bay have been sold since sales launched in early May. Heron Bay is a gated, master-planned community of more than 3,000 homes in Broward County, with new construction homes ranging from $360,000 to $640,000.

In addition, the company reported that nearly all of the new residences in Tiburon's Marquesa Royale, a luxury penthouse condominium neighborhood adjacent to the Ritz-Carlton Golf Resort, Naples, have been sold. These residences, six per building, are priced from the mid-$700,000, with only two of the 18 units released still available. WCI plans to release the final building in Marquesa Royale for sale soon to keep up with demand.

Pelican Preserve, a community designed for those 55 and better in Fort Myers with homes priced from the mid $100,000s to the mid $300,000s, has in the last 10 months introduced three new neighborhoods. WCI reports that 50 new homes have been sold in these new neighborhoods.

"New home sales are meeting or exceeding our projections in several of our South and Southwest Florida communities," said Douglas L. Schwartz, Senior Vice President of WCI Communities. "There is clearly a pent-up demand for new construction homes, particularly in first-rate communities like Heron Bay, Tiburon and Pelican Preserve."

About WCI Communities
WCI Communities creates amenity-rich, master-planned lifestyle communities, catering to primary, retirement and second-home buyers. The company offers traditional single and multi-family home choices with prices from the mid-$100,000s to just under $1 million. In addition to homebuilding and development, WCI generates revenues from its Prudential Florida Realty business, the second largest residential realty company in Florida; its Wells Fargo-affiliated mortgage services; insurance and title services; and its recreational amenities, as well as through land sales and joint ventures. For more information, visit www.WCICommunities.com.

Contact Information