Banning Lewis Ranch Management Company Announces Northtree Homebuilders

Colorado Springs, CO (PRWeb) March 12, 2007 -- The Banning Lewis Ranch Management Company has initially named three homebuilders who will build in Northtree, the inaugural village at Banning Lewis Ranch. These builders include Classic Homes, Capital Pacific Holdings and John Laing Homes. Each is currently under contract with anticipated land sale closings this quarter. Banning Lewis Ranch Management Company plans to make additional announcements about other new homebuilders soon.

"Our team is working closely with these builders to introduce a range of fresh new plans, employing a series of neighborhood crafting techniques that will make this community feel different from the very beginning" said Hadi Makarechian, Chairman and CEO for Banning Lewis Ranch Management Company.

"We feel fortunate to be working with this select group of builders," added John Cassiani, Vice President of Project Operations for Banning Lewis Ranch. "We're introducing a new type of community to Colorado Springs and these builders are crafting some wonderful products to help bring this community to life. We're all excited to start and we'll be making additional homebuilder announcements as our plans develop."

Capital Pacific Homes has built more than 30,000 homes to date in California, Texas, Arizona and Colorado. John Laing Homes currently builds in California and Colorado, and Classic Homes, a prominent local builder, is also building in numerous neighborhoods throughout Colorado Springs.

"We're anxious to start building in Northtree and being a part of the Ranch," said Doug Stimple, CEO for Classic Homes. "The Banning Lewis Ranch Management team has planned extensively to make this a special community. We're looking forward to being part of a new approach to neighborhood design, and we think residents will embrace the concept."

Builders at Northtree will be presenting fully landscaped and furnished model complexes with new architecture and all plans modeled. They will also be building first phases of production homes so that shortly after the model openings, homes will be available for move in.

Northtree, in the northwest portion of the property, is approximately 330 acres, and will have just over 1,000 homes at buildout.

Most of Northtree will offer new homes in Colorado Springs that are only a block or two away from a series of internal trails called "pasillos." The idea is that residents are to be connected to their community, neighbors and the village amenities through these pasillos, meandering tree-lined sidewalks and open spaces. When Northtree opens, the Northtree Ranch House community and welcome center, swimming pool, parks and adventure play areas are planned to be in place. Adjacent to these future amenities is the new K-8 public charter school, the Banning Lewis Ranch Academy (one of the newest Colorado Springs Schools in the area) - which opened last September for the 2006/2007 school year. The community vision taking shape is of an exciting, multifaceted environment filled with a wide variety of new homes. The newest planning principles - including native landscaping, open space conservation, and organizing neighborhoods around parks, schools and community centers - are being implemented to make today's Banning Lewis Ranch an asset to the City of Colorado Springs.

The initial Builders are expected to start construction on their model homes this spring and the Northtree Grand Opening is scheduled for later this year, with home prices starting in the low $200s in today's dollars. More information will be made available later this spring. To join the interest list and stay informed about these new homes and the latest developments at the Ranch, visit BanningLewisRanch.com.

Banning Lewis Ranch is being developed by the Banning Lewis Ranch Management Company and has offices in Colorado Springs and Newport Beach, California. The management team consists of a group of seasoned professionals with years of experience in the planning and management of master-planned communities. Their goal is to use this experience to create a community that honors this area's history, natural beauty and outdoor lifestyle. Banning Lewis Ranch in its entirety spans just over 21,000 acres from Woodmen Road to the north, Fontaine Boulevard to the south, Meridian Road to the east, and Marksheffel to the west. The Ranch was annexed in 1988 with a master plan providing for a balanced mix of homes, commercial, industrial and office space, with supporting retail, recreation and institutional land uses. Development will be market-driven with roadways, utilities and other needed infrastructure built as development occurs.

###