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October, 2005

Starpointe Acquires Six Acres at 32nd & Union Hills; Plans Cobalt Condominium Residences

Scottsdale, AZ—Arizona's largest condominium developer closed today on a six acre parcel of land at 32nd & Union Hills in North Phoenix.

Starpointe Communities purchased the land for approximately 3.2 million from 32nd StUnionHills Investors LLC. The Scottsdale based developer plans to build a 76-unit condominium community called Cobalt.

Cobalt Condominium Residences will feature one and two bedroom homes with attached garages. The design of the homes and community will be similar to The Villas at Biagio, a community Starpointe is building in Chandler that sold out last Spring. Construction of Cobalt is expected to begin in July of next year with sales following in the Fall.

Starpointe Communities has an eight year history of providing exceptional value and quality to homeowners throughout the valley with over 2100 homes built. To learn more about Starpointe, visit www.starpointeproperties.com.

This information was current at the time it was published.

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