Signaling an Improving Economy, MBK Homes Launches Construction at its New Home Community, Aragon in Signal Hill

MARINA DEL REY, CA, March 22, 2013 (Press-News.org) Showing signs of confidence in the housing market, MBK Homes has broken ground at Aragon, a new 81 unit townhome community located in Signal Hill, Calif., part of Los Angeles County and completely surrounded by the City of Long Beach. Aragon is situated on 3.2 acres at 1870 Orizaba Ave., bounded by E. 19th St. to the north, N. Orizaba to the east, PCH to the south and N. Gladys Ave. to the west. The community's Spanish design is reminiscent of the early California architecture prevalent to the area.

The three-story attached townhomes will offer five floor plan options ranging in size from 1,189 to 1,879 square feet with 2.5 bathrooms, up to 3 bedrooms, and first level 2 to 3 car attached garages. Standard features at the fully gated community include stainless steel appliances, granite countertops and solar panels with a 20-year pre-paid lease. Onsite amenities include a recreation room, spa, and outdoor kitchen area. Prices start in the mid $300s.

"The launch of construction at Aragon signifies MBK Homes' confidence that market conditions and new home prices have improved, and the timing is right to move forward," said Rick Fletcher, Vice President of Sales and Marketing for MBK Homes. "As one of the only new communities currently under construction in the area, it meets the demand we're seeing for affordably priced new homes within the greater Long Beach demographic."

Residents living at Aragon will enjoy the convenience of the community's close proximity to restaurants, shops, services, beaches, entertainment, employment centers and transportation corridors. Aragon is 22 miles southeast of Los Angeles International Airport, 21 miles northwest of John Wayne Airport and 3 miles from the Long Beach Airport. It's 2.5 miles northeast of downtown Long Beach, and 25 miles south of downtown Los Angeles. Access to and from Signal Hill includes the Blue Line Rail service, the San Diego Freeway (I-405), the Long Beach Freeway (I-710), and the San Gabriel River Freeway (I-605).

"The location and price point make Aragon the perfect option for first time homebuyers," noted Fletcher.

Sales at Aragon are expected to begin April 2013. Anticipated occupancy is 2nd quarter 2013. For additional information, email aragon@mbk.com.

About MBK Homes

MBK Homes is active in the development of for‐sale single‐ and multi‐family housing communities, rental housing, apartment property acquisition, and distressed asset renovation. Through its various housing solutions, MBK Homes' mission is to provide top quality shelter to residents in California. Throughout its nearly 20 years, MBK Homes has earned a reputation for delivering award winning customer satisfaction in housing that is innovative in design, comfort, sustainability and craftsmanship, all at an excellent value.

MBK Homes is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world's largest corporations. MBK Real Estate's companies span a wide spectrum of real estate development, including homebuilding, retail and senior housing divisions.

MBK Homes is headquartered in Irvine, California. Corporate offices are located at 4 Park Plaza Suite 1000, Irvine, CA 92614; phone (949) 789‐8300; fax (949) 789‐9300; or visit the website at http://www.mbkhomes.com.