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CULLUM HOMES SELECTED TO BE EXCLUSIVE BUILDER FOR VILLAGE AT PARADISE RESERVE, ARIZONA'S NEWEST LUXURY HOME COMMUNITY

First model expected to open February 2011; $64 million project expected to have significant econmic impact.


SCOTTSDALE, Ariz. (Aug. 24, 2010) — Arizona luxury home builder Cullum Homes and developer Paradiso Development Corporation today announced that Cullum Homes has been selected as the exclusive builder for the luxurious Village at Paradise Reserve community located at 40th Street and Lincoln Drive, in Paradise Valley. Nestled within the exclusive high-end custom home community of Paradise Reserve, the Village will include 32 uniquely spectacular new homes in a guard-gated, private setting that are selling between $1.5 and $2.5 million. Single and two-story floor plans are available ranging in size from 3,352 to 5,100 square feet.

Paradiso's decision process included an in-depth look at almost two-dozen talented local builders; Cullum Homes was ultimately chosen because of their long-standing reputation and deep understanding of environmental building practices that ensure greater sustainability and enhance a home's natural surroundings.

"We were deeply impressed with the quality of Cullum Homes craftsmanship, and their commitment to building a beautiful home in a highly competitive market. Their vision for the Village at Paradise Reserve closely mirrored our own and they are simply brilliant at building high-end luxury homes that maximize environmental stewardship," stated Bob Sahd, President of Paradiso Development Corporation.

The Village at Paradise Reserve is part of Paradise Reserve, Arizona's newest luxury home community, which also includes 14 multi-acre custom home lots ranging from $1.9 million to $3.6 million each. Together, Paradise Reserve and the Village at Paradise Reserve offer unsurpassed privacy in an intimate setting of only 46 homes tucked against the Phoenix Mountain Preserve.

The first Village model is expected to be completed in February 2011. For the latest news and information about the project, please visit the Cullum Homes Facebook page or www.cullumhomes.com.

Fresh Construction Embodies First Sign of Life for AZ Luxury Real Estate

The Village at Paradise Reserve project launched in mid-August with a private on-site celebration including more than thirty vendors, partners and sub-contractors. It is one of the first new home communities to be built in the State of Arizona since the real estate market downturn deepened significantly in 2008. It is estimated to infuse $64 million in construction materials and labor into the local economy, providing much needed jobs to the local building community.

About Cullum Homes
Founded in 1985, Cullum Homes is one of the oldest and most reputable luxury homebuilders in Arizona. The Scottsdale-based business specializes in custom and semi-custom homes in affluent areas of the Phoenix metropolitan area such as Scottsdale, Paradise Valley, Silverleaf, Firerock and Desert Mountain. Cullum Homes was the proud recipient of a Custom Home magazine Pacesetter Award for innovation, and has been listed twice among the "Fastest-Growing Residential Construction Companies" ranking in BUILDER Magazine. Their projects have been profiled in both local and national publications.

Founders Rod and Kim Cullum are both Certified Green Professionals
 and alumni of ASU (Arizona State University). They live in Paradise Valley. Their two children, Brad and Lindsay, are currently students at ASU:   Brad is a senior working on his bachelor’s degree in the School of Sustainable Engineering and the Built Environment, and Lindsay is in her final year of graduate school for a Masters in Architecture.

For more information, visit www.cullumhomes.com.

About Paradise Reserve
Paradise Reserve is an extraordinary luxury residential development that represents a rare desert retreat in the heart of the city. It is one of the last private properties bordering the Phoenix Mountain Preserve located at the crossroads of Paradise Valley, Scottsdale and Downtown Phoenix. Each of the heirloom estate properties is sensitively transformed to create the smallest environmental footprint while maintaining the highest luxury lifestyle available to its residents. Paradise Reserve is being developed by Paradiso Development Corporation. For more information, please visit www.paradisereserve.com.

About Paradiso Development Corporation
Paradiso Development Corporation is the Arizona Development Company associated with Scott Patrick, Inc., a New Mexico-based residential developer emphasizing custom land planning, environmental design and distinctive home sites. For more information, please visit www.scottpatrickhomes.com.