Mad Mag Development Buys 24 Acres in Craig Ranch Company to Develop Resort-Style Senior Living in McKinney

FOR IMMEDIATE RELEASE
March 12, 2010

Mad Mag Development Buys 24 Acres in Craig Ranch Company to Develop Resort-Style Senior Living in McKinney

(McKinney, TX) Craig International and Mad Mag Development announced today the purchase of 24 acres in Craig Ranch (http://www.craigranchtx.com/) to develop a resort-style senior living project. Tuscarora at Craig Ranch will be the first full-service Continuing Care Retirement Community (CCRC) in Collin County that offers the full continuum of care for active seniors.

“We are proud to officially welcome Tuscarora to Craig Ranch,” said David Craig, Founder and developer of Craig Ranch. “We’ve been working to finalize this deal for two years. In an environment where projects are being scrutinized more than ever, it is a real testament to our team and Tuscarora that we made it over the finish line in this economy. I especially applaud the perseverance that Jeff Yates showed in making this deal come together.”

Tuscarora is located on the north side of Collin McKinney Parkway just west of Stacy Road. It will primarily focus on independent living with a mix of apartments and villas. It also features an onsite healthcare facility, which will include assisted living, skilled nursing, rehabilitation and memory care units. The Community Commons will include a medical clinic and senior related retail including audiology, optometry and an on-site pharmacy. It will also include a variety of dining venues, retail shops, a dry cleaners and a bank. In addition to an on-site wellness center, residents will also have access to the world-class golf and fitness amenities at Craig Ranch.

“When seniors see our concept, we want them to say, ‘we never dreamed we could live life like this,’” said Jeffery C. Yates, President and CEO of Mad Mag Development. “We want to surround our residents with ways to stay active in life along with the best medical care. Tuscarora is unique in that we have some of the best physicians in the region investing in the community, and they will be active in the programs for our residents. Further, being part of Craig Ranch gives our residents access to all of its state-of-the-art amenities. It’s a combination like no other CCRC around.”

Life Care Services (http://www.lcsnet.com/), an industry leader in the management of senior living facilities, will oversee development, marketing, management and operations of Tuscarora. Life Care currently manages more than 100 communities across the country and has been doing so for nearly 40 years.

Yates says construction is scheduled to begin on phase one of the project in the first quarter of 2011 and includes the assisted living, skilled nursing, memory care and rehabilitation facilities. Pre-sales for the independent living apartments and villas will begin this summer with an estimated start of construction in 2012. Once completed, there will be 500+ residents at Tuscarora. An estimated 200 jobs will be created from the development once it is fully operational.

Karen “KK” Taylor brokered the deal for Craig Ranch. The purchase price of the transaction was not disclosed. For seniors wanting more information about Tuscarora at Craig Ranch, please call 1-877-365-4574.

###

About Craig Ranch:
Craig Ranch is a 2,200 acre master-planned business, retail, and residential community in McKinney, Texas – recently ranked by Money Magazine as one of the top 15 “Best Places to Live” in America. Craig Ranch is a high profile, regional point of destination, with its open space and ambiance serving as a natural setting for outdoor concerts, water-inspired events, art fairs and exhibits. Soccer and baseball fields, hike and bike trails and dedicated green space give residents a sense of place they are proud to call home. Craig Ranch is an AT&T Connected Community. Its marquee venues include: the TPC at Craig Ranch, the Michael Johnson Performance Center, the Cooper Fitness Center & Spa at Craig Ranch, the Hospital at Craig Ranch, Dr Pepper StarCenter McKinney at Craig Ranch, The Ball Fields at Craig Ranch and The Premier Soccer Fields at Craig Ranch. More information on Craig Ranch can be found at: http://www.craigranchtx.com/.

About Mad Mag Development:
Mad Mag Development is based in Amarillo, Texas and was formed with the sole intent of developing Tuscarora at Craig Ranch. Mad Mag Development will serve as the General Partner for Tuscarora at Craig Ranch, LP. The mission of Mad Mag is to create a full-service resort-style senior living facility with a strong medical presence and an active lifestyle. Inspired by his grandparents, Jeffery C. Yates, President and CEO, leads an invested group of local professionals who comprise the company. The investors of Mad Mag include cardiologists, orthopedic surgeons, internal medicine doctors, podiatrists and pain management specialists.

Media Contact:
Carey Marin
carey@lemastergroup.com
(214) 914-1157

Craig Ranch Appoints Lesli Anne Lehman as Head of Sales and Marketing for The Residences at Grand Lodge

FOR IMMEDIATE RELEASE
March 4, 2010

Craig Ranch Appoints Lesli Anne Lehman as Head of Sales and Marketing for The Residences at Grand Lodge

(McKinney, TX) Craig Ranch announced today it has appointed Lesli Anne Lehman as director of sales and marketing for The Residences at Grand Lodge, the luxury greenside lodgehomes in Craig Ranch that line the fairways of the Tournament Players Club golf course, TPC Craig Ranch.

“Lesli Anne brings a unique skill set to our organization,” said David Craig, President and CEO of Craig International. “Her experience in marketing luxury properties along with her savvy business acumen will set the stage for the clientele we want to attract for The Residences at Grand Lodge.”

Ms. Lehman has more than 20 years experience in business ownership, management, sales and marketing. Prior to joining Craig Ranch, Lesli Anne was the owner and publisher of Southern Savvy magazine and has owned a number of upscale Health and Fitness Centers. No stranger to the real estate market, she has successfully led sales and marketing initiatives for other luxury development companies in Dallas to include the launch of Penny Pritzker’s Classic Residence by Hyatt at Turtle Creek, a $250 million dollar luxury CCRC. Additionally, Ms. Lehman traveled the Western United States to assist in site planning and business consultation services for a national sports performance franchise.

“Being part of the Craig Ranch team is the perfect place for me to combine my broad range of experience and passions,” said Ms. Lehman. “We are launching a property that really is one-of-a-kind in world-class community. The Greenside Lodgehomes are pure luxury and the attention to detail is amazing. Residents will live on the green and also enjoy all the lifestyle amenities that Craig Ranch has to offer.”

Ms. Lehman has served on several Boards and is active in numerous charities and non-profit organizations. A West Texas native, she received her Business degree from Wayland Baptist University.

The Residences at Grand Lodge will offer a select few the chance to own one of only 23 ultra-luxurious greenside lodgehomes with exclusive direct access to the world-class TPC Craig Ranch golf course designed by Tom Weiskopf. The exquisite architecture of these privately gated two- and three-story homes combine natural fieldstone and cut limestone exteriors with slate roofs, to create a true lodge feeling. With expansive interiors ranging from 3700- 5400 square feet, residents can build their dreams from a blank canvas or step into a custom home like none other for $1.2 to 2.4 million.

The homes feature an exterior of natural fieldstone and cut limestone with slate roofs that bring to life a true lodge feeling. Standard features include a private elevator, multi-level covered patios, outdoor kitchens and wood burning fireplaces. Each homeowner receives their own exclusive membership to the TPC Craig Ranch as well as many other customized amenities such as direct access onto the course and front row seats to live competitive rounds of the PGA TOUR. For more information on The Residences at Grand Lodge, contact Lesli Anne at (214) 644-1234.

About Craig Ranch:
Craig Ranch is a 2,200 acre master-planned business, retail, and residential community in McKinney, Texas – recently ranked by Money Magazine as one of the top 15 “Best Places to Live” in America. Craig Ranch is a high profile, regional point of destination, with its open space and ambiance serving as a natural setting for outdoor concerts, water-inspired events, art fairs and exhibits. Soccer and baseball fields, hike and bike trails and dedicated green space give residents a sense of place they are proud to call home. Craig Ranch is an AT&T Connected Community. Its marquee venues include: the TPC at Craig Ranch, the Michael Johnson Performance Center, the Cooper Fitness Center & Spa at Craig Ranch, the Hospital at Craig Ranch, Dr Pepper StarCenter McKinney at Craig Ranch, The Ball Fields at Craig Ranch and The Premier Soccer Fields at Craig Ranch. More information on Craig Ranch can be found at: http://www.craigranchtx.com/.
###

Media Contact:
Carey Marin
carey@lemastergroup.com
(214) 914-1157

K. Hovnanian signs on to build homes in Craig Ranch targeting empty nesters

K. Hovnanian signs on to build homes in Craig Ranch targeting empty nesters
Deal is builder’s first new development in North Texas for 2010

(McKinney, TX) K. Hovnanian Homes (NYSE: HOV) announced today it has purchased 88 lots in The Villas at Craig Ranch in McKinney, Texas. The deal will be the builder’s first big development in North Texas in 2010 and will feature seven new floor plans created specifically for Craig Ranch. Five of the plans are single story and targeted toward empty nesters.
“We are thrilled to welcome K. Hovnanian to the neighborhood,” said Miles Prestemon, Chief Operating Officer of Craig Ranch. “K. Hovnanian Homes is a proven, respected builder who has faired well in this economy. The homes they are building in The Villas are unique to this market.”
The homes will offer three elevations including Spanish, French, and Traditional with floor plans ranging from 2600 to 3200 square feet with most plans offering an optional bonus room. Homes will be priced from the mid-300s to mid-400s.
“There is a significant demand for single story homes with luxurious amenities,” said Jimmy Brownlee, DFW Region President for K. Hovnanian Homes. “People that are downsizing or empty nesters are asking for this type of lifestyle and home. We are responding to those requests in The Villas of Craig Ranch.”
Pre-sales for the homes will begin at the end of this month. For more information, call 469-737-6530, www.khov.com/craigranch, or visit the Information Center at Craig Ranch.
--30--

About Craig Ranch
Craig Ranch is a 2,200 acre master-planned business, retail, and residential community in McKinney, Texas – recently ranked by Money Magazine as one of the top 15 “Best Places to Live” in America. Craig Ranch is a high profile, regional point of destination, with its open space and ambiance serving as a natural setting for outdoor concerts, water-inspired events, art fairs and exhibits. Soccer and baseball fields, hike and bike trails and dedicated green space give residents a sense of place they are proud to call home. Craig Ranch is an AT&T Connected Community. Its marquee venues include: the TPC at Craig Ranch, the Michael Johnson Performance Center, the Cooper Fitness Center & Spa at Craig Ranch, the Hospital at Craig Ranch, Dr Pepper StarCenter McKinney at Craig Ranch, The Ball Fields at Craig Ranch and The Premier Soccer Fields at Craig Ranch. More information on Craig Ranch can be found at: http://www.craigranchtx.com/.

About K. Hovnanian
K. Hovnanian is a subsidiary of Hovnanian Enterprises, Inc. (NYSE: HOV), founded in 1959 by Kevork S. Hovnanian, Chairman. Headquartered in Red Bank, New Jersey, the Company is one of the nation's largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Kentucky, Maryland, Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. The Company's homes are marketed and sold under the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton Homes, Parkwood Builders, Town & Country Homes, Oster Homes, First Home Builders of Florida and CraftBuilt Homes. As the developer of K. Hovnanian's Four Seasons communities, the Company is also one of the nation's largest builders of active adult homes. Additional information on Hovnanian Enterprises, Inc. is located on the Company’s website at http://www.khov.com/.

Media Contacts:
Craig Ranch
Carey Marin
(214) 914-1157
carey@lemastergroup.com

K. Hovnanian Homes
Kim Tullos
(469) 737-1480
ktullos@khov.com

Craig Ranch Wins Gold Award for Best Information Center

Craig Ranch Wins Gold Award for Best Information Center
McKinney Development One of Five Finalists for Community of the Year

(January 20, 2010—McKinney, TX) Craig Ranch announced today it received the Gold Award for Best Information Center given by the National Association of Home Builders Sales and Marketing Council (NSMC), known as The Nationals (http://www.thenationals.com/ ). The McKinney development was also one of five finalists in the country for Community of the Year.
“This is like the Oscars for the residential real estate industry,” said David Craig, president and CEO of Craig International. “Craig Ranch offers a unique, urban opportunity with amenities that are hard to find anywhere else. To be recognized as the Best Information Center in the country and a finalist for Community of the Year shows that our industry and consumers like what we have to offer: urban walkability with convenience, small-town values and a healthy lifestyle.”
Located at one of Collin County’s primary crossroads and at the center of the fastest-growing area of North Texas, Craig Ranch is between Custer and Stacy Roads north of Highway 121 at the convergence of Plano, Allen, Frisco and McKinney and across the highway from the planned Collin County Performing Arts Center.
"The Nationals is the most prestigious awards of its kind, setting the benchmark for innovations in new home design, marketing and sales," said Sheri Jackson, chairperson of The Nationals. “NAHB's commitment to recognizing originality, imagination and success has been exemplified by its award winners since the competition's inception."
The Gold Award was presented at The Nationals Gala, held last night at Caesar’s Palace in Las Vegas as part of the International Builders’ Show (IBS).
Craig Ranch also received Silver Awards last month from NSMC for Best Virtual Reality Experience and Best Brochure for The Residences at Grand Lodge. In 2009, Craig Ranch received the National Silver award from the International Builder’s Show for its planned Information Center, the prestigious Community of the Year award from The Homebuilders Association of Greater Dallas' 2009 ARC Awards Program and two McSam Awards for Best Builder Brochure for the Residences at Grand Lodge and Best Sales Office.
-30-

About Craig Ranch
Craig Ranch is a 2,200 acre master-planned business, retail, and residential community in McKinney, Texas – recently ranked by Money Magazine as one of the top 15 “Best Places to Live” in America. Craig Ranch is a high profile, regional point of destination, with its open space and ambiance serving as a natural setting for outdoor concerts, water-inspired events, art fairs and exhibits. Soccer and baseball fields, hike and bike trails and dedicated green space give residents a sense of place they are proud to call home. Craig Ranch is an AT&T Connected Community. Its marquee venues include: the TPC at Craig Ranch, the Michael Johnson Performance Center, the Cooper Fitness Center & Spa at Craig Ranch, The Hospital at Craig Ranch, Dr Pepper StarCenter McKinney at Craig Ranch, The Ball Fields at Craig Ranch and The Premier Soccer Fields at Craig Ranch. More information on Craig Ranch can be found at: http://www.craigranchtx.com/.

ABOUT NSMC: The National Sales and Marketing Council has been promoting professionalism in sales and marketing in the home building industry for 40 years. To help builders sell homes more effectively, the council provides onsite sales and marketing training; offers awards, recognition, and designation programs; and provides sales and marketing support to the National Association of Home Builders (NAHB) members, committees, and councils. The council serves more than 11,000 NSMC members and supports more than 100 local sales and marketing councils across the United States.

Now in its 28th year, the Nationals award program continues to recognize superior new home sales and marketing achievements. With 63 categories across various disciplines of the new home industry, the awards honor excellence in product and community design, advertising, marketing and sales achievements by individuals and sales teams. For more information, visit www.nahb.org/nsmc.

ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 200,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. Known as “the voice of the housing industry,” NAHB is affiliated with more than 800 state and local home builders associations around the country.

Craig Ranch Names Miles Prestemon as Chief Operating Officer

Craig Ranch Names Miles Prestemon as Chief Operating Officer
Industry veteran takes over helm of development
Craig Ranch Information Center opens to public

Craig Ranch announced the appointment of Miles Prestemon as Chief Operating Officer in May of 2009. Prestemon oversees all development direction, implementation and managing of the residential and commercial components of Craig Ranch, a 2,200 acre mixed-use development in McKinney, Texas.
“Craig Ranch is realizing tremendous growth and needs an experienced executive to manage the day-to-day operations,” said David Craig, President and CEO of Craig International. “We need smart, strategic leadership, especially in tough economic times. Miles has a wealth of industry knowledge and I am confident he is the right person to take Craig Ranch to the next level.”
Prestemon was previously the Senior Vice President of Operations for Newland Communities where he oversaw the development of Stonebridge Ranch in McKinney, one of the most successful master-planned communities in the country.
“Craig Ranch is positioned in one of the best geographic locations in the entire U.S.,” said Prestemon. “I am extremely excited about this opportunity because David and our investors are committed to the growth and long-term vision of this development. People who live here, love it because of the superb quality of life and innovative community.”
One of Prestemon’s first orders of business was opening the Craig Ranch Information Center. The 7,500 square foot center provides potential homeowners and businesses with valuable resources on schools, daycares, shopping, churches, retail, hospitals and community amenities. The center offers tours of the development and showcases a master plan map table and general information on builders. For more information, contact the Information Center at 972-529-5700 or http://www.craigranchtx.com/.


About Craig Ranch:
Craig Ranch is a 2,200 acre master-planned business, retail, and residential community in McKinney, Texas – recently ranked by Money Magazine as one of the top 15 “Best Places to Live” in America. Craig Ranch is a high profile, regional point of destination, with its open space and ambiance serving as a natural setting for outdoor concerts, water-inspired events, art fairs and exhibits. Soccer and baseball fields, hike and bike trails and dedicated green space give residents a sense of place they are proud to call home. Craig Ranch is an AT&T Connected Community. Its marquee venues include: the TPC at Craig Ranch, the Michael Johnson Performance Center, the Cooper Fitness Center & Spa at Craig Ranch, the Craig Ranch Hospital and Dr Pepper StarCenter McKinney at Craig Ranch. More information on Craig Ranch can be found at: http://www.craigranchtx.com/.

Craig Ranch Awarded Community of the Year

Craig Ranch Awarded Community of the Year
McKinney Development Also Receives Two More Awards from the Homebuilders Association of Greater Dallas 2009 ARC Awards Program


In September of 2009, Craig Ranch received the prestigious Community of the Year award from The Homebuilders Association of Greater Dallas' 2009 ARC Awards Program.
“This is quite an honor,” said David Craig, president and CEO of Craig International. “Craig Ranch offers a unique, urban opportunity with amenities that are hard to find anywhere else. To be named Community of the Year shows that the industry and consumers want what we have to offer: urban walkability with convenience, small-town values and a healthy lifestyle.”
Located at one of Collin County’s primary crossroads and at the center of the fastest-growing area of North Texas, Craig Ranch is between Custer and Stacy Roads north of Highway 121 at the convergence of Plano, Allen, Frisco and McKinney and across the highway from the planned Collin County Performing Arts Center.
The community was also awarded Best Printed Marketing Brochure for its Grand Lodge homes product and Craig Ranch Residential Marketing Director Colleen Aldstadt received the “Weathering the Storm” award for her efforts during HBA’s “The Big Home Tour.”
Earlier this year, Craig Ranch received the National Silver award from the International Builder’s Show for its planned Information Center and two McSams Awards for Best Builder Brochure for the Residences at Grand Lodge and Best Sales Office.
The ARC awards were created to recognize excellence in custom building and remodeling in approximately 60 categories—everything from Best CAPS Remodel to Best Green Built Home to Outstanding Service by a Building Services Associate. The ARC Awards Banquet was held Saturday, August 22, 2009 at The Westin Galleria.
###

About Craig Ranch
Craig Ranch is a 2,200 acre master-planned business, retail, and residential community in McKinney, Texas – recently ranked by Money Magazine as one of the top 15 “Best Places to Live” in America. Craig Ranch is a high profile, regional point of destination, with its open space and ambiance serving as a natural setting for outdoor concerts, water-inspired events, art fairs and exhibits. Soccer and baseball fields, hike and bike trails and dedicated green space give residents a sense of place they are proud to call home. Craig Ranch is an AT&T Connected Community. Its marquee venues include: the TPC at Craig Ranch, the Michael Johnson Performance Center, the Cooper Fitness Center & Spa at Craig Ranch, the Craig Ranch Hospital and Dr Pepper StarCenter McKinney at Craig Ranch. More information on Craig Ranch can be found at: http://www.craigranchtx.com/.