Silverman Selects Pulte as Master Builder at Riverside

Oakland County Schools, Proximity to Major Employees, Recreational Activities will Attract New Residents to Developing Area

March 11, 2003, Bingham Farms, MI – The Silverman Companies, one of the premier real estate development companies in southeastern Michigan, today announced that Pulte Homes (NYSE: PHM) was selected as the master builder at Riverside, Michigan’s largest mixed use, village-style development.

Riverside, located in Holly Township, is situated on over 350 wooded acres of rolling land along the banks of the Shiawassee River and within walking distance from Holly Village. The Silverman master plan – carefully developed in conjunction with neighboring residents and Holly Township officials – calls for a more traditional neighborhood setting including tree-lined streets, winding sidewalks with lanterns and more than 100 acres of open space.

Under the approved plan, over 900 new homes and several shopping centers will be built at Riverside. As designated master builder for the development, Pulte Homes is expected to complete the majority of the home building activity at Riverside. Pulte, headquartered in Bloomfield Hills, MI, has built over 300,000 home and was recently recognized by Professional Builder Magazine as the 2002 Home Builder of the Year.

Holly Township is located along the north I-75 growth corridor with exits north of Auburn Hills and Independence Township. A recent study by Southeast Michigan Council of Governments shows that Oakland County led Metro Detroit in new home, condominium and apartment construction for a number of years, with the majority of growth occurring along the north I-75 corridor. As land availability and prices continue to mount in Oakland boomtowns like Orion, Independence, Novi and Commerce, businesses and homeowners are now looking to historic communities like Holly.
Predicting the continuing population growth and northward migration trends of businesses and homebuyers, Silverman Companies chairman Gilbert “Buzz” Silverman, acquired approximately 350 contiguous acres of land in Holly Township for development. Silverman has also secured the rights to build a new water/sewer district in the area. The land, which has been zoned for mixed-use development, is a boon for residential and commercial builders who are looking for prime Oakland County land.

“Smart Growth” Concept
Silverman’s “Smart Growth” plan for Holly advocates the development of traditionally designed neighborhoods with a focus on smaller, more intimate lots, with sidewalks and winding streets. Silverman is known for championing the concept of environmentally sensitive planning, incorporating natural features like nature preserves, bird sanctuaries and wildlife trails into the design of their communities.

In addition to preserving and maintaining Holly’s existing natural features, Silverman plans to create a hiking and biking trail along the Shiawassee River which would connect downtown Holly to nearby Seven Lakes State Park. Holly is already home to almost 10,000 acres of state, county and local park lands which provide picnic and play areas, hiking and horseback trails and year-round sporting facilities for everything from swimming, boating and fishing to skiing, snowmobiling and hunting.
Silverman’s “Smart Growth” design also encourages the building of higher density developments near the Village of Holly, putting residents within walking distance from the village, a charming historical district that boasts antique stores, specialty shops and cafes. The elementary school and a new charter school are also within walking distance and the brand-new Holly High School is just a few miles to the east.

Oakland County’s Growth Corridor
Over the years, as major employers like DaimlerChrysler, MSX International, General Motors and ITT Automotive have moved northward through Oakland County, the demand for new single-family and multi-family housing has followed. Year after year, the county continues to lead the state in the economic growth; today there are an estimated 40,000 business in the county. According to University of Michigan's Institute of Labor and Industrial Relations, Oakland County’s economic forecast for 2003 calls for 19,000 new jobs and a significant growth in business investments.
With easy freeway access via I-75 and M-23 to Detroit, Ann Arbor and Flint area businesses, Holly is convenient to all major employers. Its centralized location between the two freeways also makes commuting easier for dual-income families who may have jobs in different areas.
“In a sense, Holly represents one of the best values in Oakland County. As employment rises and the population continues to move north, prime land for housing and commercial development has become increasingly scarce,” said Steve Robinson, Vice President of Silverman Development. “Holly’s abundance of charm and character make it an incredibly special place. Holly already has a vibrant downtown, brand-new schools, lakes, parks and more. All new development will be designed to enhance the existing characteristics of this already beautifully-developed, perfectly situated area.”
“We’re very supportive of the plan,” said Dale Smith, Holly Township Supervisor. “Silverman’s reputation as a developer is excellent.”

About The Silverman Companies
Since 1919, the Silverman Companies have been one of Michigan’s leading developers, builders and managers of real estate properties. The company consistently ranks among the largest builders/developers in the state and nation. Silverman entities have developed more than 25,000 single-family and multi-family residences ranging from affordable to move-up to ultra-luxury. Headquartered in Bingham Farms, MI, the Silverman Companies include Silverman Construction & Development, Silverman Real Estate Holdings, Silverman Realty, Real Equities Property Management, Lake Village Properties and Town Suites. For more information about the Silverman Companies, please call (248) 540-6400 or visit https://www.silverman.com.