Taylor Morrison to Develop "Avalon at Telfair" Community in Sugar Land, TX (Houston)

    HOUSTON, TX, January 08, 2010 /24-7PressRelease/ -- Taylor Morrison has purchased 108 acres from Newland Communities for a new upscale community to be called Avalon at Telfair. Fronting on University Boulevard south of U.S. 59 in Sugar Land, Avalon at Telfair will feature 270 home sites to be developed over the next three years.

Avalon at Telfair will likely feature Taylor Morrison homes priced from the high $400,000s to over $1 million. The community is being developed by Taylor Morrison in partnership with Newland Communities.

According to Steve Von Hofe, president of Taylor Morrison's Houston Division, Newland Communities will begin the first phase of infrastructure development immediately. The master plan includes several lakes, a park, walking trails and two monument entrances fronting on University Boulevard.

Construction of Taylor Morrison's model homes will begin in February with pre-grand opening sales of homes on 70-, 80- and 90-ft. home sites starting in March 2010.

"This is one of the biggest real estate transactions in a long time for Taylor Morrison in Houston. We couldn't ask for a better partner than Newland Communities they know the Sugar Land market and set the high standard of quality our Avalon brand demands," said Von Hofe. "Taylor Morrison has built homes in Newland communities for years; they're all top performers for us and rank among the top master-planned communities in Houston."

With 449 net sales in 2009--more than 10% over 2008--Telfair had its best year for home sales to date.

"We believe this increase in sales speaks volumes about homebuyers' confidence in both Sugar Land and Telfair as the community that they choose to make their home," said Ted Nelson, regional president, central region. "Newland and Taylor Morrison have had a long and successful relationship and we are very excited about this new opportunity which is truly a significant accomplishment for both companies. We are delighted to have a homebuilder of Taylor Morrison's stature make a major investment in Telfair."

Avalon at Telfair is the third Avalon branded community for Taylor Morrison. Avalon at First Colony in Sugar Land and Avalon at Seven Meadows in Katy were developed by Taylor Woodrow LP who merged with Morrison Homes in 2007 forming Taylor Morrison. Avalon at First Colony has been sold out for years and the last home in Avalon at Seven Meadows in Katy is currently under construction. Homes in both communities were priced upwards to more than a million dollars.

Residents of Avalon at Telfair will have full access to all amenities available to residents of Telfair. Students will attend classes in the Fort Bend Independent School District. A 400-acre Sugar Land park is adjacent to Avalon at Telfair and the University of Houston at Sugar Land Campus is within walking distance.

Taylor Morrison is currently building homes priced from the $100,000 to over $1 million in 22 locations in the Houston area. The Houston division is located at 5353 West Sam Houston Parkway North, Suite 190, Houston, TX 77041, 713-598-3000, http://www.taylormorrison.com
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About Taylor Morrison
Taylor Morrison, Inc. is one of the top home builders in North America, building a wide range of product for discerning home buyers across the country. With more than 200 communities in Arizona, California, Colorado, Florida, Nevada and Texas, Taylor Morrison, Inc., offers first-time, mid-market and mid-to-upscale housing in both master-planned communities and urban infill neighborhoods. The company also operates under the Monarch brand in Ontario, Canada, where it builds single-family homes and high-rise condominiums. Taylor Morrison, Inc., is a wholly owned subsidiary of Taylor Wimpey plc (LON: TW), a home building company with 125 years of experience and operations in the United Kingdom, North America, Spain and Gibraltar. For more information visit http://www.taylormorrison.com

About Telfair
Telfair, a Sugar Land, Texas master-planned community, is located approximately 25 miles southwest of downtown Houston. This 2,018-acre community offers new Houston, Texas homes for sale at prices from the mid $200,000s to over $1 million by leading homebuilders. Opened in 2006, Telfair has about 1,400 homes and upon completion in 2014 is planned for approximately 2,800 homes. Telfair homes are surrounded by 300 acres of recreational amenities including 70 acres of lakes, numerous neighborhood parks, miles of greenbelt trails and the 25-acre Telfair Central recreation complex. Telfair is located at U.S. 59 South and University Blvd. in the top-rated Fort Bend Independent School District. For more information visit http://www.telfair.com

Van Cleve-Houston is a real estate marketing communications company located in the Houston area.

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