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Pardee Homes Submits Revised Plans for Meadowood

Master-Planned Community is Proposed for Fallbrook

Fallbrook, CA, June 6, 2007 - Pardee Homes, a developer of master-planned communities in San Diego County for more than 50 years, has submitted revised plans for its proposed Meadowood development in Fallbrook to the County of San Diego.

Since the plans were originally submitted in 2004, the project has undergone a number of changes following review by the County Department of Planning and Land Use, community groups and Pardee's internal design team.

"Meadowood will be a showcase community that Fallbrook can look on with pride," said Jimmy Ayala, Project Manager of Community Development with Pardee Homes, who leads the program to design and build Meadowood. "This project is designed to preserve key natural resources, complement Fallbrook's character, and help address San Diego County's housing shortage."

Meadowood is proposed as a community of 867 single- and multi-family homes, located east of Interstate 15 (I-15) and north of State Route 76 (SR 76)/Pala Road. The project site is 390 acres, approximately 50 percent of which will remain as permanent open space.

The project includes a 12.4-acre elementary school site, an 8.5-acre community park, eight "pocket parks" and six miles of hiking and equestrian trails and walkways. Tracts of the existing avocado and citrus groves will be maintained, along with natural open space areas.

"We have designed Meadowood to be sensitive to the environment by emphasizing open space, energy efficiency, habitat preservation, trail access and protection of wildlife corridors," said Ayala. "Pardee Homes has a commitment to the communities it builds that begins long before the first home is built, and continues long after the last home is completed and occupied."

Among the changes to the plan since it was re-submitted to the County in 2005 are a reduction in the number of homes in Meadowood, and in the project's overall density, or homes per acre, which now stands at 2.3. In addition, three-story multi-family units have been eliminated, and a one-story single-family floor plan has been added. A new design for detached multi-family homes will provide improved aesthetics.

Ayala said the re-submittal of the Meadowood plan is another step toward obtaining land use approvals, which will culminate with a public hearing before the San Diego County Board of Supervisors. Pardee will continue to work with the County of San Diego, the Fallbrook Community Planning Group, local water agencies, the San Diego County Sheriff's Department, the North County Fire Protection District and local school districts to build a dynamic community that will provide multiple benefits to the region.

Meadowood conforms to the vision of General Plan 2020 (GP 2020), an ongoing effort by the County of San Diego to update its general plan and shape future growth in the County's unincorporated areas. GP 2020 creates a smart-growth framework that calls for a transit center at the intersection of I-15 and SR-76.

Pardee's design for Meadowood includes drought-tolerant landscaping, and a state-of-the-art water recycling plant that will provide water for landscape irrigation, reducing the project's use of potable water. Additionally, many of the homes at Meadowood will feature Pardee's LivingSmartTM program, which offers homebuyers a comprehensive package of options to preserve resources, conserve water and energy and improve air and water quality.

Established in 1921, Pardee Homes provides new home choices for a spectrum of households and price points, with particular focus on master-planned settings that also include schools, parks, shopping and other amenities. Pardee Homes has operations in Los Angeles, Orange, Riverside, San Bernardino and San Diego and Ventura counties in Southern California, Alameda County and the Sacramento area in Northern California and the Las Vegas metro area of Southern Nevada. In 2004, Pardee Homes marked its 50th year in the San Diego market. For more information about Pardee Homes, visit its award-winning web site at www.pardeehomes.com.