News Release

8/22/06 - THE PORCHES OFFERS INCOMPARABLE LIFESTYLE IN NEXT GREAT MOUNTAIN TOWN
Steamboat Springs, Colorado’s, Premier Second Home Community Pairs Whole and Fractional Ownership with the Finest in Craftsmanship, Service and Amenities   (STEAMBOAT SPRINGS, COLORADO) – August 22, 2006 – Life is less complicated when viewed from a porch. With its familiar sounds under foot and welcoming shade, a porch beckons one to spend lazy summer days or crisp winter evenings unwinding and building memories with family and friends. Now, in Steamboat Springs, Colorado, a quaint destination in the heart of the Rocky Mountains known as Ski Town USA, the connotation of a porch has inspired a new way of living. Introducing The Porches, a place like no other.   The Porches is Steamboat Springs’ premier second home community, where a family-friendly atmosphere meets the fine art of living to create a genuine neighborhood. Offering whole ownership as well as fractions in its Private Residence Club, The Porches combines the best in personal service with the comfort of spaciously elegant luxury residences built with meticulous planning and a quality of craftsmanship never before found in the area.   “When people come to The Porches it feels like home—only better,” said Bruce Shugart, co-developer of The Porches and co-principal of Structural Associates, a company that specializes in custom home building. “We sought to create a true community that embraces the Colorado lifestyle—casual but refined elegance and an emphasis on activity in one of the world’s best locations for outdoor pursuits.”   Paramount to the entire community is each home’s flagship porch. Designed to complement the heart of the neighborhood, the porches are intended to promote friendly contact and create an outside space that encourages both family interaction and ultimate relaxation. Rocking chairs are positioned optimally on the porches to capitalize on the 360-degree views just beyond the community.   The pristine setting of The Porches was formerly known as More’s Corner, which included a landmark cabin and 16.5 acres of adjoining land often represented in early images of Steamboat. Shugart along with his partners and co-developers, Richard  Dean  and  Shane  Evans,  had  a  distinct  vision  to  create  an  exclusive community that combined the sensibilities of a friendly neighborhood, the finest amenities and the benefit of a prime location with spacious residences that emphasize quality craftsmanship, materials and design reminiscent of a by-gone era. The founding team boasts decades of real estate experience including building and designing high-end custom homes in Aspen, Vail, Beaver Creek and other mountain communities.   An authentic Western feel permeates Steamboat’s core, where things move at a more comfortable pace. Recognized internationally for its champagne powder, Steamboat Springs lies 160 miles northwest of Denver, one and a half hours from Vail, and twenty minutes from the nearest airport. Furthermore, Steamboat has been home to more Olympic skiers and snowboarders than any other town in the world. Steamboat Ski Resort has a potential sale to a major company looming on the horizon, thus investors now have a prime opportunity for quick real estate appreciation.   Steamboat Ski Resort just experienced its second straight record year with 1.05 million skiers. The resort includes Mount Werner, Sunshine Peak, Pioneer Ridge and Christie Peak and offers 2,939 acres of skiable terrain. With the second highest vertical rise in Colorado and 339 inches of annual snowfall, Steamboat has been named the No. 1 family resort for the past four years and the No. 5 ski resort in North America by SKI Magazine. Steamboat also received national recognition by winning the 2002 Silver Eagle Awards, which recognizes environmental achievements of ski areas in North America. Nearby Howelsen Hill is Colorado’s oldest ski mountain and one of only three international ski jumping complexes in North America. The area has served as a training ground for more than 50 Olympians, providing six jumps ranging from 20 to 120 meters, 20 kilometers of Nordic trails, a halfpipe and other features. Howelsen Hill recently dedicated a roller ski jump that will be open during the summer and will be the first of its kind.   Real Estate Offering Those who enter The Porches share in a magical feeling of welcoming and sophistication that has proven instantly appealing to its many residents. The full circle views of the Flat Tops Wilderness, Thunderhead and Buffalo Pass that give way to a breathtaking landscape of plentiful green space across the Yampa Valley only corroborate a feeling of immediate tranquility.   “We have been coming to Steamboat since 1974 and are thrilled to have discovered The Porches—it’s a little jewel not too many people know about. The whole family loves coming here—so much so that one of our daughters purchased a share in the residence club after visiting,” said Domenick Galluzzo, a whole ownership resident based in Connecticut. “Not only have we found a great investment, but we’ve found a second family—the staff are the most friendly people and consistently go out of their way to accommodate us.”   The value of whole ownership at The Porches is evident, as sales have been met with continual fervor. In addition to the spacious and luxuriously-outfitted residences, amenities and high quality service, the price for wholly-owned homes is nearly 30 to 50 percent less than comparable homes in other well-known mountain towns.   The Private Residence Club presents the perfect opportunity to own at The Porches at a fraction of the cost of whole ownership, with usage commensurate to each owner’s needs. A concept quickly gaining in popularity, the residence club allows for hassle-free ownership combined with the enjoyment of a vacation retreat. As a testament to its quality, The Porches was invited to join The Registry Collection, a private exchange program of international residence clubs that allows members to trade their weeks of ownership for access to other top destinations worldwide.   The Porches Private Residence Club 224 shares available in fractions of 1/8 deeded ownership Residences are fully and immaculately furnished Six weeks of planned vacation each year (three weeks in summer, three in winter) plus additional access based on space available Four bedroom, four and two, one-half bathroom residence at 4,026 square feet is $320,000 Five bedroom, five and two, one-half bathroom residence at 4,189 square feet is $360,000 Grand five bedroom, five and two, one-half bathroom residence at 5,019 square feet is $400,000 Members have exchange privileges with The Registry Collection, allowing four of the six weeks to be traded for vacations in other destinations   Whole Ownership Currently in Phase V of the sales process Residences range in price from $2.2 to $2.6 million and from 4,000 to more than 5,000 square feet Owners have nearly unlimited freedom to customize the interior of their home   Rental Opportunities Owners have the option of renting their home and can utilize The Porches’ on-site Pinnacle Resort Management team to help with the process   “The quality of life presented at The Porches combined with the allure of Steamboat has helped us create one of the most unique communities in the Rocky Mountains,” said Richard Dean, co-developer of The Porches. “The value of owning at The Porches is in the quality and size of the residences, the proximity to a thriving downtown and the best skiing in the state, making it an ideal family retreat year-round.”   Design and Craftsmanship The Structural Associates design team focused on a mountain-rustic architectural theme that highlights the distinctive character of the rural ranch homes that once dotted the Yampa Valley. Old-world carpentry techniques like mortise and tenon, dovetail and biscuit joinery were utilized to retain the historic appeal despite the availability of easier methods. Unique characteristics such as exterior paint color, roof pitch and layout further distinguish one home from the next. The inviting interior design features color palettes of natural patinas in warm neutral colors, native stone, aged wood, antiques and furnishings from local and regional boutiques.   The Porches’ residences are arranged in a private twin-home configuration, although once inside a resident or guest would never know it. Each three-story townhome features a heated two-car garage and wide-open floor plan, perfect for a multi-family or multi-generational visit. All floors are made from a variety of reclaimed or hand-distressed wood such as white oak or ash.   The professional kitchen features granite counter tops, custom cabinetry, Wolf ranges and Subzero refrigerators along with all the accoutrements necessary for a gourmet meal such as waffle makers, coffee machines and blenders. The kitchen opens to a great room with oversized couches and a farmer’s rock gas fireplace that serves as the room’s focal point—the ideal location to recuperate after a long day’s adventure. Large bedrooms envelop residents with fine linens, flat screen TVs and private bathrooms with Kohler faucets and fixtures. While the amenities and appliances are consistent throughout all homes, the interior décor and bedding varies, creating a unique feel in each home. The garden level features a foosball and billiards table, entertainment system and media center to occupy young children and teens while still keeping them at home.   Amenities A 6,000 square foot on-site amenities building, “The Barn” is never more than 650 feet from each residence. The building’s name and design further tie into the community with floors made of reclaimed wood from a barn built in 1883. Residents are greeted with a lounge area where they can relax, enjoy a complimentary latte and catch up on the day’s news next to a large stone fireplace. For busy executives who can never quite get away from it all, wireless Internet throughout the community and an on-site business center with a computer station, printer and fax offers an easy alternative. An extensive exercise facility provides state-of-the-art Nautilus cardio and weight training equipment along with a flat screen TV to keep exercisers motivated and entertained. Adjoining the fitness area is a game room with a TV, DVD player, Xbox™, Game Cube, and several board games positioned to allow parents to keep an eye on the kids while they’re working out. Outside of the lounge area is the spacious pool area, which features a heated pool, Jacuzzi, large gas grill for cookouts, a gas fire-pit for roasting s’mores, and an adjacent deck that is perfect for lounging and entertaining.   Service Service at The Porches isn’t just an amenity; it’s a tenet the staff lives by daily. A concierge housed in The Barn can coordinate a number of activities, restaurant reservations, tee times, pre-arrival grocery shopping and much more. Exceeding the level of service found at any five-star hotel, The Porches eagerly helps with a variety of home maintenance needs like landscaping, housekeeping and storage for personal belongings, including ski equipment. Residents also benefit from year-round private shuttle service to and from the ski resort, as well as around the town of Steamboat.  In addition, Private Resident Club owners receive private shuttle service to the Yampa Valleyregional airport.    About Steamboat Springs, Colorado Steamboat Springs was recently rated the No. 1 town in the West to buy a second home by Sunset magazine. In addition to its formidable reputation in the ski world, Steamboat offers four seasons of activities to suit all interests and fortunately, The Porches lies just minutes from the action. For avid golfers, Haymaker is an 18-hole, public championship golf course designed by Keith Foster and featuring a full practice facility, pro shop and restaurant. The course was named one of Golf Digest’s “Best New Courses” and one of the magazine’s top 20 courses in Colorado in 1998. Owners at The Porches receive discounted local rates when they reserve a tee time. The Sheraton Steamboat Golf Club features a Robert Trent Jones II championship golf course that offers players stunning views of the surrounding mountains and drastic elevation changes, while the Steamboat Golf Club, a private club open to the public, offers nine holes along with a new clubhouse facility.   The Porches is situated in one of the country’s best destinations for recreation, and the variety of activities is as far reaching as the desire to pursue them. Horseback riding, miles of hiking trails, rafting tours, cattle drives, fly-fishing, hot air balloon rides, ATV tours and much more are available throughout the area. The Steamboat Health & Recreation Association includes three tennis courts, mineral pools and an Olympic-sized lap pool and is a short drive from The Porches. The Strawberry Park Hot Springs, a series of three natural mineral spring pools open year-round, is one of Steamboat’s most notable attractions. Long recognized for its therapeutic qualities, hot springs are the ideal retreat post-skiing or after a long day’s hike.   Steamboat presents more than the great outdoors. Visitors enjoy strolling the streets of this charming ski town and perusing the many galleries and retail stores – from a charming, locally-owned bookstore, to a quaint artisan’s shop featuring handmade jewelry to furniture. The dining options at Steamboat vary as well, with many high-end restaurants that rival the world’s best to more casual, family-friendly establishments.   Apart from skiing, there are many cultural opportunities offered in the area, such as Strings on the Mountain, a music festival that presents more than 70 nationally recognized classical, jazz, and country musicians, and the Perry Mansfield Performing Arts School and Camp. Steamboat is also home to a two-year junior/community college, which offers many associate degrees, personal enrollment courses for the community, and intellectual opportunities afforded by a higher education institution.   About The Porches The Porches is Steamboat Springs’ premier second home community, where a family-friendly atmosphere meets the fine art of living to create a genuine neighborhood. Offering whole ownership as well as deeded fractions in its Private Residence Club, The Porches combines the best in personal service with the comfort of spaciously elegant luxury residences built with meticulous planning and a quality of craftsmanship never before found in the area. For more information, please call 866.500.6673 or visitwww.theporches.com . For media inquiries, please contact Aubrey Gordon,Aubrey@turnerpr.com at 303.333.1402.
Source: For media inquiries, please contact Aubrey Gordon,Aubrey@turnerpr.com
URL: www.theporches.com

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