Porter Ranch New Home Sale Prices Continue Exceedi
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Momentum increases as homebuyers continue to purchase luxury homes at Toll Brothers’ Porter Ranch master planned community . In addition, buyers are upgrading and personalizing their new homes by selecting multiple options and high-quality amenities from the region’s new design studio, company officials said today. New and pending homes continue to close pass the $2 million price milestone, driven in part by Porter Ranch having the highest-performing schools, one of the safest zip codes in Southern California, the widest and “highest” views and unique designs and options that promote personal choices and individuality. “Porter Ranch’s spacious homes offer cutting-edge designs, a great location and top-rated schools,” said Frank Su, Toll Brothers Division Vice President. “Buyers continue to remark about the price value they are receiving relative to the size of home, the friendly neighborhoods, the views, the existing parks, and all the coming attractions.” This month, construction began on a long-awaited $150 million retail-entertainment center that will provide Porter Ranch with a unique open-air shopping and gathering experience. The Vineyards , developed by Shapell Liberty Investment Properties, is set to open in 2018 and will include an expanded Whole Foods Market, a Kaiser-Permanente medical center, a range of high-end shops and restaurants, a luxury apartment complex, and a hotel. Also, final design work is under way for a planned 50-acre community park in the heart of Porter Ranch. Details of the park will soon be announced. Toll Brothers currently offers three collections at Porter Ranch, with homes starting in the mid-$900,000s, as well the nearby Canyon Oaks a gated community that recently opened with single-story and two-story luxury homes with optional detached casitas on expansive home sites. Homes in Canyon Oaks are priced from $1.4 million. “We are seeing both a continually stronger demand for these homes, as well as an across-the-board trend among buyers to make a large selection of options and upgrades that push many closing prices past the $2 million mark,” Su said. The three award-winning Porter Ranch communities – Glen at Avila, Bluffs at Bella Vista and Palisades at Westcliffe – offer some of the largest homes for the best price in a greater Los Angeles setting, Su said. At Westcliffe , for example, Toll Brothers offers homes from 4,500 square feet to 5,400 square feet with up to 5 bedrooms and 6 ½ bathrooms, luxurious indoor/outdoor living spaces and opportunities to customize and personalize. For more information, visit Toll Brothers Porter Ranch website at: www.LiveAtPorterRanch.com. For a copy of a recent independent research about positive housing trends in the Porter Ranch region and images of the properties, contact Denis Wolcott at Dick Jones Communications: 213-200-1563 or denis@dickjones.com. # # # About Toll Brothers Toll Brothers, an award-winning Fortune 500 company founded in 1967, embraces an unwavering commitment to quality and customer service. Toll Brothers is currently building in 20 states nationwide and is a publicly owned company whose stock is listed on the New York Stock Exchange (NYSE: TOL). For three years in a row, Toll Brothers has been ranked the #1 Home Builder Worldwide on the FORTUNE Magazine “World’s Most Admired Companies®” list.* The Company is named one of America’s Most Trusted® Home Builders by Lifestory Research†. Toll Brothers was also recently honored as national Builder of the Year by BUILDER magazine, and was twice named national Builder of the Year by Professional Builder magazine. Toll Brothers proudly supports the communities in which it builds; among other philanthropic pursuits, the Company now sponsors the Toll Brothers - Metropolitan Opera International Radio Network, bringing opera to neighborhoods throughout the world. Toll Brothers builds luxury single-family detached and attached home communities; master planned luxury residential, resort-style golf communities; and urban mid- and high-rise communities, principally on land it develops and improves. The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management, home security, and landscape subsidiaries. The Company also operates its own lumber distribution, and house component assembly and manufacturing operations. The Company acquires and develops commercial properties through Toll Commercial and its affiliate, Toll Brothers Realty Trust, and purchases distressed loan and real estate asset portfolios through its wholly owned subsidiary, Gibraltar Capital and Asset Management. The Company acquires and develops commercial and apartment properties through Toll Commercial and Toll Apartment Living, and the affiliated Toll Brothers Realty Trust, and develops urban mid- and high-rise for-sale condominiums through Toll Brothers City Living. This is not an offering where prohibited by law. *From FORTUNE Magazine, March 1, 2017 ©2017 Time Inc. FORTUNE and The World's Most Admired Companies are registered trademarks of Time Inc. and are used under license. FORTUNE and Time Inc. are not affiliated with, and do not endorse products or services of Toll Brothers, Inc. †Toll Brothers received the highest numerical score in the United States in the proprietary Lifestory Research 2015 America’s Most Trusted® Home Builder study. Study based on 43,200 new home shoppers in 27 markets. Proprietary study results are based on experiences and perceptions of consumers surveyed between January and December 2014.
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/Attachm...322bdf7d50
Kira Sterling, Chief Marketing Officer Toll Brothers, Inc. 215-938-8220 Taylor Suero, Assistant Marketing Manager Toll Brothers, Inc. 818-332-7228
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