HORSHAM, Pa., June 3, 2009 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL), www.tollbrothers.com, the nation's leading builder of luxury homes, announced today its further expansion in the Southwest with its entry into the Houston market. The move increases Toll Brothers' presence in Texas, where it currently operates communities in Dallas/Ft. Worth, Austin, and San Antonio.
"We have been studying the Houston market for a long time and have been looking for the right opportunity to enter it," commented Robert Toll, Chairman and Chief Executive Officer of Toll Brothers. "In 2008, Houston was the second largest home building market in the nation."
Home builders remain optimistic in Houston. Despite current market conditions, employment is on the rise in the road construction, healthcare, manufacturing, aeronautics, and energy/oilfield equipment industries.
Toll Brothers' first community in Houston, the Village of Creekside Park at The Woodlands, will open for pre-construction sales in mid-August, with deliveries anticipated for spring 2010. The community will offer the same award-winning home designs that earned Toll Brothers the distinguished honor of being named by the Texas Association of Builders - Texas Builder of the Year in each of the past two years.
Toll Brothers at Creekside Park will offer homes on 80' wide home sites and will showcase five floorplans with multiple exterior designs. Homes will be priced from the upper $400s. Amenities of Creekside Park include 1,850 acres of parklands and green space with a 1,700-acre nature preserve, a 20-acre park, an aquatic center, 79 acres of lakes and ponds.
The Woodlands, Houston's premier master plan, encompasses 28,000 forested acres and houses 1,500 businesses, over 60 schools, upscale shopping, countless cultural and recreational venues, and more. With so much to offer, it's easy to see the breadth of fabulous reasons to live, work and play in The Woodlands.
Toll Brothers, Inc. is the nation's leading builder of luxury homes. The Company began business in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol "TOL". The Company serves move-up, empty-nester, active-adult and second-home home buyers and operates in 21 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Texas, Virginia and West Virginia.
Toll Brothers builds luxury single-family detached and attached home communities, master planned luxury residential resort-style golf communities and urban low-, 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.
Toll Brothers, a FORTUNE 1000 Company, is the only publicly traded national home building company to have won all three of the industry's highest honors: America's Best Builder from the National Association of Home Builders, the National Housing Quality Award, and Builder of the Year. Toll Brothers proudly supports the communities in which it builds; among other philanthropic pursuits, the Company sponsors the Toll Brothers -- Metropolitan Opera International Radio Network, bringing opera to neighborhoods throughout the world. For more information, visit tollbrothers.com.
CONTACT: Toll Brothers, Inc.
Kira McCarron, Chief Marketing Officer, Senior Vice
President
(215) 938-8000
[email protected]
