CLEVELAND, Oct. 11, 2012 /PRNewswire/ -- Forest City Enterprises, Inc., (NYSE: FCEA and FCEB) today announced that its Stapleton mixed-use community in Denver has been rated as the ninth best selling master-planned community in the nation by Metrostudy, a national real estate rating service. Stapleton moved up six spots in the 2012 ranking, having ranked 15th in 2011. The current ranking covers the period from July 2011 through June 2012.
"This ranking confirms what our Denver team hears every day from builders and homebuyers, as well as apartment, office and retail tenants: the quality of life at Stapleton and the unique 'sense of place' that has been created there, make it a highly desirable place to live, work, shop and play," said David J. LaRue, Forest City president and chief executive officer. "The ranking also validates our strategic decision to retain Stapleton as part of our core operations, even as we reposition the balance of our national land development business."
In February of this year, Forest City announced that it would reposition or divest portions of its land business – with the exception of Stapleton – as part of its strategy of focusing on core rental properties: apartments, retail centers and office buildings, in select core markets.
Located on the site of Denver's former international airport, Stapleton is one of the largest urban redevelopments in the United States. With a walkable mix of energy-efficient new homes, retail districts, schools, offices and an extensive network of parks and open spaces, Stapleton is a living example of progressive, sustainable neighborhood design. For more information, visit StapletonDenver.com.
About Forest City
Forest City Enterprises, Inc. is an NYSE-listed national real estate company with $10.7 billion in total assets. The company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States. For more information, visit www.forestcity.net.
SOURCE Forest City Enterprises, Inc.
Robert O'Brien, Executive Vice President - Chief Financial Officer, +1-216-621-6060, or Jeff Linton, Senior Vice President - Corporate Communication, +1-216-621-6060