DENVER, April 3, 2013 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC) today announced that its Richmond American Homes of Florida subsidiary, which has been operating in the state for almost 10 years, has closed on the purchase of its first two homebuilding projects in the Orlando market. The newly purchased projects, Brynmar and Bella Lago, are scheduled for grand opening in the second quarter of 2013 and will feature a combined 116 sites with one- and two-story homes ranging from 2,275 to 4,214 square feet.
"We are pleased to add Orlando to our operational footprint," said David D. Mandarich, MDC's president and chief operating officer. "Our entry into this market gives us the opportunity to meaningfully add to our overall presence in Florida, which has experienced a significant resurgence in homebuilding activity over the past year."
In addition to the projects already acquired, Richmond American Homes of
Florida also has two projects in
Orlando that are under control for potential purchase, pending feasibility review.
Since 1972, MDC's subsidiary companies have built and financed the American dream for more than 170,000 homebuyers. MDC's commitment to customer satisfaction, quality and value is reflected in each home its subsidiaries build. MDC is one of the largest homebuilders in the United States. Its subsidiaries have homebuilding operations across the country, including the metropolitan areas of Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside- San Bernardino, Los Angeles, San Francisco Bay Area, Washington D.C., Baltimore, Philadelphia, Jacksonville and Seattle. The Company's subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol "MDC." For more information, visit www.mdcholdings.com.Forward-Looking Statements