DENVER, July 31, 2013 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC) today announced that its Richmond American Homes of Colorado subsidiary ("Richmond American") has been selected as the lead builder of single family homes at Sterling Ranch, an innovative community located in the premier area of Chatfield Valley, southwest of Denver.
Harold Smethills, Managing Director of Sterling Ranch, said, "We are excited to have Richmond American as our lead builder. Our senior leaders, including Diane Smethills, Jack Hoagland, Jim Yates and I, have known Richmond American's management team for many years, and we look forward to a strong relationship for years to come as they help us realize the vision we have for Sterling Ranch. We believe that this project will have an immensely positive impact on the Denver area, not only providing an incredible place for thousands of Coloradans to live, but also generating a sizeable economic impact for the area."
David Mandarich, Chief Operating Officer of M.D.C. Holdings, said, "Richmond American has built more than 40,000 homes in Colorado over the past four decades, which is more than any other builder, with many homes including our environmentally-friendly EnergyWise and WaterSense features. We are honored to have the opportunity to leverage our experience to help make Sterling Ranch a leading master-planned community in the Denver metropolitan area for years to come. Furthermore, we are grateful to work with Mr. Smethills and his talented team, who have already accomplished so much in making Sterling Ranch a reality. As the lead builder for substantially all of the single family lots on the Sterling Ranch, we will have the opportunity to develop over 5,000 new Colorado homes and homesites."
About Sterling Ranch, LLCSterling Ranch distills Colorado's best in the beautiful Chatfield Valley. The development in northwest Douglas County blends Old West heritage with New West ideas to deliver a community that is a touchstone of 21st Century living, including the most innovative water conservation plan in the state. Residents will enjoy a healthy, active lifestyle at Sterling Ranch, which includes 30 miles of trails, parks, a sports village, schools, healthcare and other unique features to make a complete Colorado lifestyle community. About MDC 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, Orlando, South Florida 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.
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