Toll Brothers Announces Development of River Parc, a Luxury Rental Apartment
Community in Washington, D.C.
Located in the Exciting Capitol Riverfront District, Just a One-Block Walk
From the Navy Yard Metro Train Station and Two Blocks North of Nationals Park,
River Parc Will Consist of 287 Luxury Apartments With a Below-Grade Parking
Garage and Extensive Lifestyle Amenities.
HORSHAM, Pa., Nov. 21, 2013 (GLOBE NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL)
(www.Tollbrothers.com), the nation's leading builder of luxury homes, through
its Toll Brothers Apartment Living® subsidiary, announced today they have
commenced construction of River Parc, a 287-unit luxury rental apartment
project located in the Capitol Riverfront area of Washington, D.C. While Toll
Brothers has a long history of development in surrounding areas, River Parc is
Toll Brothers' first project in Washington, D.C.
River Parc EPR
The site at 1011 1^st Street SE is located in the vibrant Capitol Riverfront
area, just a one-block walk from the Navy Yard Metro station on the Green
Line, and two blocks north of Nationals Park baseball stadium. It is less than
10 minutes by Metro to the major city hubs including Capitol Hill, L'Enfant
Plaza, and Gallery Place. The project, which will include a 179-space
below-grade parking garage, is within walking distance of attractions such as
Yards Park, the Anacostia Riverwalk Trail, Boilermaker Shops, Capitol Hill, a
soon-to-open Harris Teeter Supermarket and other conveniences.
Toll Brothers Apartment Living® will oversee the building's marketing, leasing
and property management. Toll Brothers City Living will oversee development
with Tishman Construction Company as general contractor. The project, a joint
venture, is being financed through a construction loan facility from PNC Bank,
"We're extremely excited to be launching the Toll Brothers Apartment Living
brand in the Nation's capital," said Charles Elliott, Managing Director of
Toll Brothers Apartment Living. "River Parc is sure to be a great addition to
the wonderful Capitol Riverfront neighborhood."
When complete, River Parc will offer luxury apartments ranging from studio to
2-bedroom plus dens, as well as an amazing suite of amenities including a
landscaped rooftop pool with views of the Capitol, a 24-hour concierge,
fitness center and yoga room, a high-tech resident's lounge and a pet salon.
Toll Brothers, Inc., A FORTUNE 1000 Company is the nation's leading builder of
luxury homes. The Company began business in 1967 and became a public company
in 1986.Its common stock is listed on the New York Stock Exchange under the
symbol "TOL".The Company serves move-up, empty-nester, active-adult, and
second-home buyers and operates in 19 states: Arizona, California, Colorado,
Connecticut, Delaware, Florida, Illinois, Maryland, Massachusetts, Michigan,
Minnesota, Nevada, New Jersey, New York, North Carolina, Pennsylvania, Texas,
Virginia, and Washington.
Toll Brothers builds an array of luxury residential single-family detached,
attached home, master planned resort-style golf, and urban low-, mid- and
high-rise communities, principally on land it develops and improves. The
Company operates its own architectural, engineering, mortgage, title, land
development and land sale, golf course development and management, home
security, and landscape subsidiaries. The Company also operates its own lumber
distribution, house component assembly, and manufacturing operations.The
Company purchases distressed loan and real estate asset portfolios through its
wholly owned subsidiary, Gibraltar Capital and Asset Management. The Company
acquires and develops commercial and apartment properties through Toll
Commercial and Toll Apartment Living, and the affiliated Toll Brothers Realty
Trust, and develops urban low-, mid- and high-rise for-sale condominiums
through Toll Brothers City Living.
Toll Brothers is honored to have won the three most coveted awards in the
homebuilding industry: America's Best Builder from the National Association of
Home Builders, the National Housing Quality Award, and Builder of the
Year.Toll Brothers was awarded Builder of the Year in 2012 as well as in
1988, and is the only two-time recipient.Toll Brothers proudly supports the
communities in which it builds; among other philanthropic pursuits, the
Company sponsors the Toll Brothers Metropolitan Opera International Radio
Network, bringing opera to neighborhoods throughout the world. For more
information, visit www.tollbrothers.com.
Forward-Looking Statements: All statements in this press release other than
statements of historical fact are "forward-looking statements" for purposes of
federal and state securities laws, including any statements of plans for
future operations, anticipated operating results, anticipated financial
performance, consumer demand and confidence and market and industry
trends.Actual results could differ materially from those projected or assumed
in any of the forward-looking statements.Important factors that could cause
actual results to differ materially from the forward-looking statements
include, among others: local, regional, national and international economic
conditions; fluctuating consumer demand and confidence; interest and
unemployment rates; changes in sales and rental conditions; the impact of
construction defect, product liability and home warranty claims; the ability
of the participants in various joint ventures to honor their commitments; the
availability and cost of labor and building and construction materials; the
cost of raw materials; construction delays; and weather conditions.A more
detailed discussion of these factors is set forth in Toll Brothers' and
AECOM's most recent annual reports on Form 10-K, quarterly reports on Form
10-Q and other reports filed with the U.S. Securities and Exchange
Commission.Toll Brothers and AECOM do not intend, and undertake no
obligation, to update any forward-looking statement.
CONTACT: For Toll Brothers
Frederick N. Cooper, IR/Financial Media
email@example.com (215) 938-8312
Kira Sterling, General Media
firstname.lastname@example.org (215) 938-8220
Toll Brothers, Inc. Logo
Press spacebar to pause and continue. Press esc to stop.