CANAL WALK STARTS 2010 WITH A BANG FOLLOWING STRONG FINISH TO 2009

A single-family home at the Reserve at Canal Walk

SOMERSET, NJ – 2009 was undoubtedly one of the most successful selling sales year to date at Canal Walk thanks to brand new housing designs and value-packed reduced pricing. This incredible success has quickly translated into a flurry of development activity to start the New Year at the active adult community in Somerset County’s Franklin Township.

Construction is moving along swiftly on the large number of homes purchased at the popular community during the second half of 2009 and residents are buzzing with excitement as they prepare to welcome their new neighbors, according to George Adinolfi, Sales Manager for Premier Development, which is developing Canal Walk bordering the historic Delaware and Raritan Canal

New homeowners are equally thrilled to not only begin their well-rounded lifestyle at Canal Walk, but also with the incredible value they received by purchasing a home in the community’s Enclave and Reserve neighborhoods after the reduced pricing was introduced last year. The new pricing structure afforded active adults the unique opportunity to buy a residence at significant savings without sacrificing any of the luxury, quality and appeal that have made Canal Walk a desirable housing destination.

“When we introduced new prices at the Reserve and Enclave last year, savvy homebuyers quickly took notice and we experienced a surge of sales activity in the last six months,” Mr. Adinolfi points out. “These sales are now being realized in the form of completed homes, creating a very lively environment throughout the community.

The Reserve at Canal Walk is an exclusive collection of Energy Star Certified single-family homes. Highlighted in the Reserve are two distinctive single-family designs – luxurious ranch-style residences which include the new Concord model priced from just $357,900 and two-story homes priced from $441,900.

Construction is well underway on two new ranch model homes at the Reserve. Once completed, the ranch models will join five existing models at the community to vividly illustrate all the spacious and functional single-family floorplans at Reserve at Canal Walk.

Some of the largest single-family designs are featured in the new Ranch homes which offer up to approximately 2,500 square feet, two-and three-bedroom, 2 to 2.5 baths, and are located on oversized homesites. The residences are also being offered with new feature packages that will provide buyers with more interior options and more flexibility than ever before.

The new homes boast upscale standard appointments such as nine-foot first floor ceilings, hardwood flooring, decorator light fixtures and large eat-in kitchens with 42” cabinets, granite countertops and GE™ appliances, including a self-cleaning range and space-saver microwave. Sumptuous master bedroom suites include tray ceilings and a master bath with a soaking tub and separate shower with built-in seat. The homes also include plenty of storage space which is always a major consideration for active adults.

In addition to the Ranch designs, a number of upscale two-story homes in the Reserve are now available for immediate occupancy. The residences provide many of the same standard features as the ranch homes, as well as staircases with oak treads and dramatic oak railings.

“Both home styles provide incredible comfort and lower energy bills than typical homes because they are being developed under strict guidelines set by the U.S. Environmental Protection Agency,” says Mr. Adinolfi. “Purchasers may also be able to take advantage of Federal Tax Credits available to those who have owned their current home for at least five years. The program allows eligible buyers to receive up to $6,500 in tax credits if they close on their home by June 30th, 2010.”

The Enclave at Canal Walk is an exclusive neighborhood of condominium homes competitively-priced from just $224,900. Residences at the Enclave range in size from 1,500 square feet to more than 1,800 square feet. Six magnificent two-bedroom housing designs are offered featuring spacious and open floorplans, large living rooms, gourmet kitchens with Corian™ countertops and GE™ appliances and huge amounts of cabinet and pantry space, nine foot ceilings, hardwood entry foyer flooring, master bedroom suites have large walk-in closets and lavish master baths with ceramic tile floors, seated showers and oversized soaking tubs. “Homes in the elevator buildings also offer outdoor space and balconies, as well as indoor parking,” Mr. Adinolfi points out.

The allure of Canal Walk is intensified thanks to its country-club lifestyle. Residents enjoy a private 32,000 square-foot clubhouse — the Premier Club at Canal Walk — which is one of the largest and most amenity-rich in the state. Featured inside are a heated pool and whirlpool, a spa equipped with steam room, sauna and a fully-equipped fitness room. There’s also a library, crafts room, billiards room and separate men’s and women’s card rooms. In addition, a business center, banquet hall and lounges are available. Tennis, bocce courts and a putting green are adjacent to the refreshing outdoor pool and spa. Additional services include a beauty salon and a massage and wellness center.

“What’s more, our location near the Delaware and Raritan Canal offers direct access to amenities such as the community’s walking trails which have been laid out to connect with sections of the historic canal that have been preserved as public open space,” Mr. Adinolfi says.

For more information on the Reserve at Canal Walk, please call (732) 564-0010. For more information on the Enclave at Canal Walk, please call (732) 356-1191. Information on both neighborhoods can be found at http://www.premierdevelopment.com. To visit, take Route 287 to Exit 12. Make a left onto Weston Canal Road and proceed 2.4 miles until you reach Schoolhouse Road. Turn left onto Schoolhouse Road and continue 7/10 of a mile until you reach the entrance at Canal Walk Boulevard. Make a right into the entrance and follow signs to the model park and sales offices. ###

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