Classic Residence at Silverstone Celebrates Groundbreaking

SCOTTSDALE, ARIZONA, FEBRUARY 28, 2008

Today, a new chapter begins on one of the most prominent pieces of land in North Scottsdale. Following the immense success of their first community in Grayhawk, Classic Residence by Hyatt and The Plaza Companies celebrated the proclamation of “Classic Residence at Silverstone Day” by breaking ground on the future home of their encore continuing care retirement community on the site of old Rawhide.

At a 1:oo p.m. ceremony, several dignitaries, including Sharon Harper, CEO of The Plaza Companies; Classic Residence by Hyatt’s Chairman and CEO Penny Pritzker and President Randal J. Richardson; Jacqueline Wolf, Executive Sales Director for Classic Residence at Silverstone; and John Little, Executive Director, Downtown Scottsdale, celebrated this major milestone in Scottsdale’s history. Classic Residence at Silverstone joins Classic Residence by Hyatt and The Plaza Companies, located at Grayhawk, as Scottsdale’s encore luxury living community for older adults.

Developed in partnership with Classic Residence by Hyatt, a leader in luxury living communities for older adults, and The Plaza Companies, an Arizona leader in senior living communities, health care, and bioscience facilities, Classic Residence at Silverstone is a unique luxury living community for older adults in one of America’s most exclusive and desirable cities. Located on Scottsdale and Pinnacle Peak roads on a site that has been synonymous with “Old West” for more than 35 years, this luxury living community will offer the highest level of service and amenities available in a distinctly sophisticated neighborhood.

Situated on 33 acres, the $200+ million upscale community will have approximately 270 units upon completion in 2010, including one- and two-bedroom apartments and private villas in a variety of floor plans. To complement the independent living residences, there also will be an on-site care center, with assisted living, memory support, and skilled nursing residences.

Modeled after classic Mediterranean cities in Spain and Italy, Classic Residence at Silverstone will convey the essence of Tuscan “Architecture of the Sun,” a distinctive architectural style that features spacious courtyards, weaving walkways, and use of stone in design and landscaping, showcasing a European feel while artistically incorporating the natural beauty of the Sonoran Desert.

With a fully equipped fitness center, heated indoor and outdoor pools, choice of dining venues, library, salon and spa, wellness center, art studio, and much more, residents of Classic Residence at Silverstone will live in a luxury residential community, coupled with distinctive services and amenities and the availability of high-quality care, to enhance their lifestyles and provide them with greater peace of mind for the future.

For more information about Classic Residence at Silverstone, please call (602) 417-0692 or visit http://www.hyattclassic.com/ and search “Our Communities” for Silverstone.

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About Classic Residence at Silverstone
Classic Residence at Silverstone is the encore development from the award-winning partnership between Classic Residence by Hyatt and The Plaza Companies. Ten years ago, Classic Residence by Hyatt brought its hospitality heritage to North Scottsdale by partnering with The Plaza Companies, the highly reputable senior living developer, to build their first community for older adults at Grayhawk, which today is an award-winning community. Due to the great success of that community, the joint venture continues with Classic Residence at Silverstone. Located just two miles north of Grayhawk, the new $200+ million continuing care retirement community (CCRC) will have approximately 270 independent living units and an on-site care center upon completion in 2010.

With more than 50 years of combined experience in the senior living industry and an unparalleled experience in Scottsdale, the sales team at Classic Residence at Silverstone brings an invaluable service to the community as the project continues to develop. The Classic Residence at Silverstone sales office is located at 23415 North Scottsdale Road, Suite 101, Scottsdale, Arizona 85255, (480) 342-9800 | 1-800-986-5212.

About The Plaza Companies
The Plaza Companies based in Peoria, Arizona, is an award-winning leader in development, acquisition, and management of senior living communities, medical office properties, technology, and bioscience parks. Founded in 1982, the company’s portfolio of projects and communities developed and managed by the company is valued at more than $1 billion. The Plaza Companies recently won two Gold Achievement Awards from the National Association of Home Builders’ 50+ Housing Council and Economic Engines of Arizona of 2007. For more information, call (623) 972-1184 or visit http://www.theplazaco.com/.

About Classic Residence by Hyatt
Classic Residence by Hyatt is a national leader in luxury senior living that currently owns, manages, and markets upscale senior living communities in Scottsdale, Ariz.; Monterey, Calif.; Palo Alto, Calif.; San Diego, Calif.; Aventura, Fla.; Boca Raton, Fla.; Hollywood, Fla.; Lantana, Fla.; Naples, Fla.; Plantation, Fla.; Pompano Beach, Fla.; Glenview, Ill.; Chevy Chase, Md.; Reno, Nev.; Teaneck, N.J.; Yonkers, N.Y.; Hilton Head Island, S.C.; and Dallas, Texas. Classic Residence by Hyatt’s three newest continuing care retirement communities are under development in Highlands Ranch, Colo., Dallas, Texas and Scottsdale, Ariz. A major expansion is underway in San Diego, Calif. Classic Residence by Hyatt communities have earned honors for being among the nation’s finest, including Platinum, Gold and Silver Achievement Awards from the National Association of Home Builders 50+ Housing Council. The toll-free corporate number is 1-800-421-1442, and the company’s Web site is at http://www.hyattclassic.com/.