Eastlake Press Release: August 2, 02

EastLake unveils The Woods: its most prestigious neighborhood yet

CHULA VISTA, Calif. In a bold departure from its renowned neighborhoods of mid-sized homes, The EastLake Company is introducing an exclusive community of estate-sized homes and custom homesites. Its EastLakes final neighborhood The Woods which defines a new standard where the best of everything has culminated to round out EastLakes appeal as a community that offers something for everyone.

A lot of the interest weve received for The Woods has been from residents of EastLake who are happy living here but want to move to an area with more land, said William Ostrem, president and CEO of The EastLake Company. Were also hearing from people who have been interested in moving to EastLake, but were waiting for this type of neighborhood to be introduced. So far, the demand for these homes has exceeded our expectations.

When completed, The Woods will include 344 estate-sized homes and 64 custom homesites. Builders in the first phase of development include ColRich Communities and Continental Homes.

ColRich at The Woods will feature homes ranging from 3,258 square feet to 4,302 square feet on lots averaging 10,000 square feet, and Continental Classics at the Woods offers homes ranging from 2,578 square feet to 4,205 square feet on lots averaging 7,850 square feet. The limited number of custom homesites at The Gates of The Woods range in size from a minimum half acre to well over one acre.

Meticulous attention is being paid to every detail at The Woods, from the entry bridge custom-crafted by talented artisans, to the detailed, hand-crafted iron gates at the entrance to each cul-de-sac of custom home sites in The Gates, to the beveled curbs and etched sidewalks throughout the neighborhood. Seventy-six-year-old Eucalyptus trees line an entrance to The Woods, showing the preservation of the original landscape. Finally, the stately clubhouse, inspired by legendary architect Addison Mizner and designed by Doug Mansfield of Laguna Beach, captures the influence of 1920s Florida mansions in every inch of its detail. All come together to create an elegant ambiance.

When completed, The Woods will also include an elementary school and middle school, and will feature a resident club that will include swimming pools, spa, a fitness center, demonstration kitchen, formal and informal gathering areas all within the Mansfield designed two-story recreation complex.

So impressive is The Woods, that the San Diego Building Industry Association chose it as the location for its Tour dElegance, scheduled for May of 2003, when visitors will be able to take self-guided tours throughout the homes.

Located in Chula Vista, east of Interstate 805, EastLake is one of the largest master-planned communities in San Diego County. It totals 3,200 acres, including 180 acres of industrial land, more than 70 acres of commercial property, and more than 1,100 acres of parks, recreation and open space. EastLake is developed by The EastLake Company, which markets land to individual builders and commercial/industrial/retail users. When completed, EastLake will include seven distinct residential neighborhoods, all with private amenities, schools, public parks, civic facilities, protected land, The EastLake Business Center, EastLake Village Center and EastLake Village Marketplace, and the renowned U.S. Olympic Training Center.

For more information about The Woods, visit www.thewoods.com or call 1-800-427-7619.

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