EIGHT AFFORDABLE UNITS IN BEAR HOLLOW VILLAGE

EIGHT AFFORDABLE UNITS IN BEAR HOLLOW VILLAGE RELEASED FOR SALE BY HAMLET HOMES

Hamlet now accepting contracts for Bear Claw Condominium at Bear Hollow

PARK CITY, UTAH (March, 2008) — Hamlet Homes announced that it is releasing for sale eight units at the Bear Claw condominium building located in Bear Hollow Village.  The condominiums are affordable housing units specifically for families whose income does not exceed $64,960 a year—80 percent of the Summit County area median income.

Bear Claw’s eight homes, along with two more that will be built in a future section of the Lodge Condominiums, represent a total of 32 affordable housing units Hamlet will build at Bear Hollow.  Hamlet Homes has constructed and sold 22 of the 32 affordable housing units in Bear Hollow to date.  To place the affordable housing units into the market, Hamlet subsidized the cost of these homes by more than $900,000. In addition, these homes were sold at a discount of over $1.7 million to their actual market value.

Located on Oslo Lane, the Bear Claw building contains four one-bedroom condominiums and four two-bedroom condominiums. Prices for the one-bedroom condominiums are $140,363; the two-bedroom condominiums are $221,000. Homebuyers have the option of two floor plans, the Lone Peak and the Twin Peak. The interior of the homes includes one or two bedrooms, one full bath, solid oak cabinets, GE Energy Star appliances, no-wax vinyl floors and carpet.  Exterior features include maintenance-free Hardiplank siding by James Hardie. In addition to these features, Bear Claw residents will enjoy amenities such as a community clubhouse, pool and hot tub, as well as a nearby trail system.

Hamlet Homes is known for giving back to the community. The company has made other substantial contributions to Summit County.   Most notably as each Bear Hollow home closed a contribution of $3,400 per home was made to the Summit County Open Space fund, and to date, based on 232 closed homes, Hamlet has donated $788,800 to this fund.  Hamlet also donated $343,583 to the Summit County Board of Education, $192,372 toward the construction of a future underpass designed to connect the village to the east side of SR224, and $164,000 to the Swaner Nature Preserve.

To reach Bear Hollow Village, take the Kimball Junction exit off I-80 and head south for 1.2 miles. Bear Hollow Village is located on the right. The model homes are open from 10:00 a.m. to 6:00 p.m. Monday thru Saturday and from noon to 5:00 p.m. on Sunday.

For additional information, call Kristie Parasoplo at (435) 615-7252 or visit Hamlet Homes’ Web site at www.hamlethomes.com.

About Hamlet Homes

Hamlet Homes (www.hamlethomes.com) crafts quality, customer-oriented homes, ranging from condominiums and townhomes to single-family homes located in attractively designed neighborhoods in northern Utah.  In addition, Hamlet is a leader of urban redevelopment, transit-oriented communities.  Since the company’s founding in 1995, Hamlet Homes has constructed more than 3,000 homes in 35 communities.  The company is continually striving to meet and exceed the expectations of its homebuyers and live up to its brand of “Great Homes.  Great People.  Great Experience.”  In 2005, 2006, and 2007, Hamlet was awarded the Builder of Integrity Award from the Quality Builders Warranty Corporation, and in 2003, 2004, 2006 and 2007, Hamlet has been awarded Utah’s Best of State medal for residential construction.   Located in Salt Lake City, Utah, Hamlet Homes is part of the Hamlet group of companies, which also includes Hamlet Development, Diversified Habitats and Stirling Mortgage, an affiliate of Wells Fargo.

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