Classic Residence by Hyatt Breaks Ground on $130 Million Expansion of its Luxury Senior Living Community in San Diego

SAN DIEGO, CA, AUGUST 02, 2005

Over the years, the city of San Diego has seen some developments get off the ground, but nothing like this! A groundbreaking ceremony on August 17 at 12:00 p.m. will celebrate the beginning of the $130 million expansion of Classic Residence by Hyatt at La Jolla Village, making San Diego home to an even more spectacular luxury retirement community and one of the finest in Southern California.

The upscale continuing care retirement community will be adding its final phase of development, which includes spacious living residences and community amenities. The $130 million, 365,108-square foot tower will sit adjacent to the current Classic Residence by Hyatt building in University Towne Centre at 8515 Costa Verde Boulevard.

The retirement of tomorrow is here today, blending the concept of a fine hotel, recreational living, and fine dining with a continuum of care to create a vibrant lifestyle in a unique setting. Why San Diego? Because so many Baby Boomers want to retire in a great location like San Diego, with its many attractions and nearly perfect climate year-round.

Residences at Classic Residence by Hyatt at La Jolla Village range from 1,200 to 2,919 square feet, and entrance fees range from $474,000 to $1.7 million. Classic Residence by Hyatt combines gourmet cuisine served graciously at three restaurants (two additional venues will open with the expansion), chefs trained at the Culinary Institute of America, concierge assistance, valet, housekeeping, indoor swimming pool (with a new sundeck, compliments of the expansion), billiards, library, business center, wellness center with tai chi, aqua aerobics and other fitness classes, a continuing care program with access to the care center included for residents who qualify—not to mention golf, trips to the opera, and shopping excursions.

"The final phase of Classic Residence by Hyatt at La Jolla Village's expansion puts San Diego on the map as a retirement destination," said Steve Brudnick, the community's executive director. "Classic Residence by Hyatt sets the standard for luxury senior living. There is no other senior living community in the region that will have this magnitude of luxury and combined with quality care."

Classic Residence by Hyatt Founder and Chairman Penny Pritzker will be in San Diego to inaugurate the development's kickoff on August 17. The expansion has a total project completion date set for 2008—although residents will move in starting in 2007. The expansion at Classic Residence by Hyatt at La Jolla Village is already 59 percent sold, further illustrating what an impact this addition to San Diego will have.

For more information about the expansion or Classic Residence by Hyatt, call (858) 646-7745 or visit http://www.hyattclassic.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/.