AV Homes Closes on Creekside at Bethpage

CHARLOTTE, NC--(Marketwired - Apr 3, 2014) - AV Homes, Inc. (NASDAQ: AVHI) has officially closed escrow on its first Triangle area community in the company's new Carolinas division with Creekside at Bethpage. This 650 unit 55-Plus community will be built in the planned 407-acre mixed-use development of Bethpage in Durham, North Carolina. AV Homes will begin land development in the second quarter 2014 and will launch Creekside at Bethpage for pre-sales in early 2015.

Bethpage is nestled in the prestigious Brier Creek area in the heart of Durham, Raleigh and Chapel Hill (The Triangle). The planned development strategy for Creekside maintains the integrity of the natural landscape while offering a unique home collection and an expansive amenity-rich clubhouse. Residents of Creekside will enjoy a generously appointed 15,000-square-foot clubhouse, offering social rooms, swimming pool, bocce courts, pickleball courts, tennis courts, billiards, community garden, and aerobics studio, as well as an extensive walking trail system integrated in the natural surroundings.

Creekside at Bethpage will offer single level / ranch-style plans in four product series ranging between 1200 and 2400 sq. ft. The homes will feature 2 car garages with craftsman, low country and traditional exterior designs.

Residents of Creekside at Bethpage will have easy access to nearby Raleigh-Durham International Airport, world-renowned Research Triangle Park, well-respected Duke Medical Center and other top-notch medical facilities. The community will also provide close proximity to major universities for lifelong learning as well as to I-40 and the 540 interchange for easy access to shopping and dining. The Triangle is in a prime location with a temperate climate and proximity to the mountains and some of the East Coast's most desirable coastline.

AV Homes is known for its successful communities such as Solivita, Kissimmee's four-time winner as one of the top active adult communities, and CantaMia in Goodyear, Ariz., named one of the 50 Best Communities in the U.S. by Where To Retire magazine. Creekside at Bethpage is the first of many planned ventures in the Triangle market. AV Homes recently announced its first traditional community in greater Charlotte: Morgan's Branch which will feature 153 traditional homes ranging in size from 1,800 to 3,000 square feet, with prices from the low to mid $200s.

About AV Homes
AV Homes, Inc. was formed in 1970. It is best known for the development of Poinciana, an award-winning 47,000-acre master-planned community near Orlando, Florida. Today, the company is engaged in homebuilding, land development and other real estate operations in Florida and Arizona with its new Carolinas division already in development of its first community. Its principal operations are currently located at Solivita near Orlando, and CantaMia near Phoenix. AV Homes currently builds homes for people of all ages including active adult communities intended for those 55 years and older in both the Central Florida and Phoenix metro homebuilding markets. www.avhomesinc.com