GUAM TOUTS $50 MILLION LUXURY HOUSING PROJECT

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SAIPAN, CNMI (Marianas Variety, January 16) – The development of Guam’s Talo Verde Estates, the island’s newest premier gated luxury residential community, represents a US$50 million in investment to the island.

This was stressed by Lt. Gov. Michael W. Cruz, who led yesterday’s groundbreaking ceremony for the new luxury subdivision in Tamuning.

"Talo Verde Estates reflects the strong forward momentum of our economy as investors take a new look and realize the strength of Guam’s potential," Cruz said.

He added that the development is "a great sign for our future as we continue our work to welcome our people back home and strengthen our island for the future military buildup."

The Talo Verde Estates development is the first of four US$50 million investment projects envisioned by Access Development Inc., Becco Guam, and Century 21 Realty Management.

It is situated on 35 acres of real estate in Tamuning and features 115 single family units and 32 town homes with full security.

The developing partners plan to invest more than US$200 million in executive housing developments in Tumon and Upper Tumon.

The new community is the first of four major real estate projects investing about US$200 million in the local economy.

Talo Verde Estates spans some 133,120 square meters in size and includes a large communal neighborhood area of 12,864 sq.m. and an unprecedented 8,089 sq. m. central "ocean view" park designed to be shared by all estate residents.

Brian Suhr, board member of Access Development, said the central park defines the property’s "design virtue" and was the inspiration for the naming of the estate.

Talo means "central" in Chamorro and Verde means "green" in Spanish.

A total of 82 homes will be built into the luxury estate property, with 63 lot/homes available for purchase.

The first phase of construction will start in May 2007 with the last phase of construction ending by the middle of 2008. The estate also plans to add 36 town homes into the mix for buyers looking for an alternative to a single-family home solution.

"Access Development is very bullish on Guam’s economic future and they are committed to add value to the island by developing commercial and residential projects that inspire both form and function to those who experience it," said Chris Felix, president and principal broker of Century 21 Realty Management.

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