FOR IMMEDIATE RELEASE

April 30, 2009

Pinkard Completes Final Phase of $58.6 million Retirement Community

Centennial, CO - Pinkard Construction Co., with RNL architects, has just completed the final phase of the new, two-phased, $58.6 million Holly Creek Retirement Community in Centennial.

Owned by Denver-based Christian Living Communities, a provider of senior living and care in Denver for nearly 37 years, Holly Creek is a resort-style retirement community that includes 262 apartment homes with independent living, memory care and skilled nursing, and a town center comprised of a movie theater, gift shop, wellness complex and three restaurants.

The community also features a medical suite, spa, indoor-outdoor pools, library, business center, game rooms, woodworking studio, beauty salon, outdoor gardens, a fellowship room, putting green and outdoor gaming area.

PHASE II
Phase II, which completed in early 2009, is a 148-unit facility that includes 66 independent living, 28 assisted living, 24 skilled nursing, 12 memory care, and 18 concierge units next to the recently completed Phase I. The project also features a 24,000 sf below-grade parking structure and a vaulted, one story common gallery area.

Phase 2 amenities include:
• Commercial laundry • Beauty/barber shop • Movie theatre with stadium seating • Fellowship area • Numerous private dining rooms • Main dining room for over 200 • Satellite “bistro” dinner • 4,000 sf commercial kitchen • Medical suite/massage/spa/wellness center with physical/occupational therapy

The assisted living wing has a structural steel frame with steel stud partitions; brick/ block/ cementitious siding and asphalt roof shingles. The Town Center is structural steel with glu-laminated timber framing and roof decking.

Underground Detention System
Due to site restrictions, an existing detention pond was converted into a new, underground detention system covered by a surface parking lot. The system is an extensive network of underground piping that contains and eventually diverts site stormwater into an off-site runoff area.

PHASE I
Phase I, which Pinkard completed in 2005, is a 114-unit independent/assisted living facility of 194,000 sf, with 37,700 sf below-grade parking and a vaulted, one story common gallery area. The project was constructed in phases that included the 3-story independent condominiums and independent cottages.

The two-phased, 419,000 sf, 3-story retirement community project was fast tracked with multiple bid packages. Phase I completed on time. Pinkard delivered portions of Phase II ahead of schedule to accommodate Christian Living Communities’ (CLC) desire for partial early occupancy.

In addition to the Holly Creek development, Pinkard also renovated CLC’s Adult Daycare at Johnson Center, and is currently conducting a $35 million phased renovation of CLC’s Clermont Park Retirement Community, which is due to complete early summer 2011.

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