Press Releases

 August 22, 2007

Core gives research a name in Port St. Lucie

Research Park to be Known as Florida Center for Innovation at Tradition

Core Communities today announced that its 120-acre research park, already home to the Torrey Pines Institute for Molecular Studies, will be known and marketed as the Florida Center for Innovation (FCI) at Tradition.

The Florida Center for Innovation at Tradition is located at the southwest corner of Interstate 95 and Tradition Parkway, and will feature 400,000 square feet of space for research and development organizations, 100,000 square feet of medical and office space, 80,000 square feet of restaurant and retail space, a 300-bed hospital, and 300 hotel rooms.

"The name Florida Center for Innovation at Tradition clearly positions this venture as one of statewide importance," said Pete Hegener, President of Core Communities. "The name points to the park's physical location in Tradition, of which we are very proud, but speaks most clearly of the kind of innovative research we believe will be conducted here."

Marketing materials are already being updated with the new name, and two Web addresses have been established (www.innovationflorida.com and www.fciattradition.com) for outbound marketing efforts targeting site selectors, biotech leaders and others.

The park, along with all retail and commercial outlets in the Tradition master-planned community, will be developed and managed by Core Commercial Group, the commercial development arm of Core Communities.

Core Communities is the community development subsidiary of The Levitt Corporation (NYSE: LEV). Core Communities' mission is to create and develop master-planned total-living community environments in Florida and throughout the southeastern United States. Core Communities is headquartered in Port St. Lucie at Tradition Station, 10521 S.W. Village Center Drive, Suite 201, Port St. Lucie, FL, 34987. Visit Core Communities on the Internet at www.corecommunities.com.