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M.D.C. Holdings Announces Land Purchase In Jacksonville Beach

JACKSONVILLE BEACH, Fla., Feb. 21, 2014 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC) is proud to announce that its Richmond American Homes of Florida subsidiary closed on property on South Beach Parkway in Jacksonville Beach on February 11, 2014.

The acquisition is one of the last large undeveloped parcels of land in the city of Jacksonville Beach. The new coastal community, called Ocean Terrace, is scheduled to open late summer and will offer 59 homesites and a distinctive collection of ranch and two-story floor plans ranging from approximately 2,250 to 3,050 finished square feet.

New homes in Ocean Terrace start from the $400s and residents will appreciate abundant amenities including easy access to popular schools, shopping, dining and recreation. Located just blocks from the beach, Ocean Terrace also offers close proximity to A1A and J. Turner Butler Boulevard.

The classic Dickinson will be among the floor plans featured in this charming coastal community. Highlights of this plan include a spacious main-floor great room and an open kitchen with a double oven, central island and expansive walk-in pantry. Like all homes in Ocean Terrace, the Dickinson will offer a wealth of personalization options.

For more information about this exceptional new community, or to join our interest list, call 904-541-2555 or visit www.RichmondAmerican.com.

About MDC

Since 1972, MDC's subsidiary companies have built and financed the American dream for more than 175,000 homebuyers. MDC's commitment to customer satisfaction, quality and value is reflected in each home its subsidiaries build. MDC is one of the largest homebuilders in the United States. Its subsidiaries have homebuilding operations across the country, including the metropolitan areas of Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside-San Bernardino, Los Angeles, San Francisco Bay Area, Washington D.C., Baltimore, Philadelphia, Orlando, Jacksonville, South Florida and Seattle. The Company's subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol "MDC." For more information, visit WWW.MDCHOLDINGS.COM.

SOURCE M.D.C. Holdings, Inc.

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