News Release:

River District Vancouver | Parklane | www.riverdistrict.ca

NEWS RELEASE

River District neighbourhood set to launch this spring

Vancouver, B.C. – (April 13, 2011) ParkLane Homes is commencing development of the River District– a new community of 130 acres located in southeast Vancouver on the Fraser River. The property, formerly known as East Fraserlands, was formerly the Canadian White Pine Mill and is one of the last pieces of undeveloped waterfront land in the city.

The River District development plan is based on the principles of New Urbanism and features a well-planned mix of townhomes, low- and mid-rise apartments and high-rise towers. The future phases of the community will also include shops, a grocery and small format retail, a community plaza, two new schools, a community centre, park space and a waterfront pier.

ParkLane is also announcing that it will partner on the first phase of the project with veteran homebuilder Polygon Homes.

"We are pleased to be working with a reputable company like Polygon", says ParkLane President Peeter Wesik. "They are industry leaders and we are confident the homes they build will live up to the high standards that we have set for this leading-edge, sustainable new community.”

Polygon will be starting construction shortly on the first group of homes – New Water – and sales will launch in late spring 2011.

“We believe the River District will be an important community for Vancouver and we are very pleased to partner with ParkLane to build the first homes there,”says Neil Chrystal, President and CEO of Polygon Homes.

The River District development has been a model of community consultation. Since 2004, ParkLane has been involved in an extensive consultation process with local residents and the City of Vancouver. In 2007, the East Fraserlands Official Development Plan won the Canadian Institute of Planners Award for Excellence in the neighbourhood planning category, as well as the BC Smarty Award for Best Process/Proposal.

ParkLane Homes has built more than 6,000 homes in over 100 communities since 1980. Recognized with over 250 provincial and national awards for building excellence, ParkLane has also been named the Best Builder in BC and Best Builder in Canada.

Polygon is one of the most well established and highly respected home builders in British Columbia. Locally-owned and operated since 1980, the company has built more than 19,000 homes throughout the Lower Mainland, ranging from concrete high rises to wood-frame condominiums, townhomes and single family communities.

For more information visit www.riverdistrict.ca and www.polyhomes.com/newwater or contact:

Ross Sullivan
Peak Communicators
604-689-5559
rsullivan@peakco.com

Official press release found here.

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