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| January 5, 2009 |
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COMMUNITY DYNAMICS PARTNERS WITH BROOKFIELD IN SIMI VALLEY
SANTA MONICA, CA – Community Dynamics has entered into a joint venture with Brookfield Southland Holdings to develop 43 single family homes in Simi Valley. |
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The partners intend to deliver two story detached, Spanish revival homes fronting on landscaped pedestrian paseos at entry level prices affordable to working families.
Costa Mesa based Brookfield Southland Holdings is a wholly owned subsidiary of Brookfield Homes, a publicly traded company listed on the New York Stock Exchange. The two companies previously partnered in the successful development of a 64 acre mixed use community in Oxnard, California.
"We're grateful to renew our strategic partnership with Brookfield," said Loren Bloch, the Company's President. "We believe that in this challenging economic environment, it's important for industry leaders to both realistically assess the state of the market, and move forward where we can responsibly do so. Simi Valley is an outstanding community in the LA metro area, and we'll be ready to deliver top quality homes at affordable prices when the market returns."
Community Dynamics' design team includes Fonda-Bonardi Hohman Architects, TGP Landscape Architecture, and JSA Civil Engineering. The development team expects to submit a formal application to the City of Simi Valley in the first quarter of 2009 and obtain entitlements before year-end.
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