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MBK HOMES FOLLOWS UP PREVIOUS SUCCESS IN GARDENA WITH THE FIRST NEW COMMUNITY IN THE CITY'S ARTESIA CORRIDOR SPECIFIC PLAN


The 97-unit 1600 at Artesia Square features both live/work and traditional townhomes

IRVINE, CALIF. (January xx, 2010). MBK Homes Southern California, a division of MBK Real Estate Ltd., will begin pre-sales this Saturday, January 30 for its new community, 1600 at Artesia Square, located in Gardena. The community is the first to open in the Artesia Corridor Specific Plan, a 44-acre parcel which the city of Gardena targeted to create a unique mixed-use development that would attract high quality residential development. 1600 at Artesia Square will feature distinctive three-story urban residences comprised of 34 live/work townhomes and 63 traditional townhomes. Prices for the new homes will start from the mid $400,000s.

MBK Homes has had a highly successful relationship with the city of Gardena. In 2000, the builder opened the first new master-planned home community in Gardena in 25 years. That community, Emerald Square, was built over several phases and served a pent up demand for new housing in the city. Through Emerald Square, MBK Homes had learned that many people who grew up in the area and left for a variety of reasons were coming back to settle close to their parent's and childhood home. The same will continue to hold true for 1600 at Artesia Square.

As with Emerald Square, a large number of the buyers expected at 1600 at Artesia Square are professionals that desire a different kind of home than their parents once did. The majority of homes in Gardena are post-WWII constructed and measure approximately 1,000 to 1,500 square-feet. MBK Homes conducted in-depth research to know there is a considerable demand for newly constructed, larger homes. The homes at 1600 at Artesia Square will offer up to 2,309 square-feet with two to three bedrooms, two and one-half to three and one-half baths, and attached two-car garages.

"Our previous success in Gardena showed that there was, and continues to be, a demand for large, superior urban homes in the city. 1600 at Artesia Square will attend to those needs and more," said Rick Fletcher, vice president of sales and marketing at MBK Homes. "The 34 live/work homes at 1600 at Artesia Square will offer a modern lifestyle that is inherently flexible, and meet the growing trend to address issues such as traffic and conservation of resources.

"We look forward to seeing not only repeat MBK Homes customers at 1600 at Artesia Square, but are also excited to introduce our high quality of craftsmanship and detail along with our exceptional commitment to the customer experience to many new homebuyers," Fletcher added.

The live/work townhomes at 1600 at Artesia Square are designed for creative professionals to live and work at the same address. The first floors are devoted to flexible office and home-based business space, while the upper floors feature space for contemporary living. As today's modern business owner has foregone the traditional nine to five workday and forged to being always on the clock, live/work homeowners can cut down on wasted time from commutes and traffic. Live/work homes also allow savings from the added expense of renting an office, as well as offering an overall well being to work from a personal comfort zone. 1600 at Artesia Square homeowners will live a singular urban lifestyle. Multiple restaurants, shops, stores, services and recreational opportunities are close in proximity, with many in a walkable half-mile range. Resident amenities include four outdoor gardens and an outdoor fireplace. 1600 at Artesia Square also incorporates the MBK Homes "LifeWise Program," in all the homes in order to conserve and more efficiently use our planet's precious resources.

Interested buyers may visit the 1600 at Artesia Square Sales Gallery, at 1600 W. Artesia Boulevard in Gardena. For further information on 1600 at Artesia Square, visit www.mbkhomes.com/1600atArtesiaSquare, or call 800.566.7100.

About MBK Homes
MBK Homes is active in the development of both attached and detached housing product, catering primarily to first-time and first and second move-up homebuyers throughout California. MBK Homes prides itself on its award winning customer satisfaction and its reputation for delivering quality housing that is innovative in design, comfort and craftsmanship, all at an excellent value. For more information, visit the company's website at www.mbkhomes.com.

MBK Homes is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world's largest corporations. MBK Real Estate's multidisciplinary concerns span a wide spectrum of real estate development, including homebuilding, retail and senior housing divisions.

MBK Real Estate Ltd. is headquartered in Irvine, CA, with regional offices in Portland, OR. Corporate offices are located at 175 Technology Drive, Irvine, CA 92618; phone (949) 789-8300; fax (949) 789-9300; or visit its Web site at www.mbk.com.

Posted on January, 27th 2010

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