Press Release
Date of Release:
October 18, 2005
World Sells
Multi-Family Land In Yucca Valley, CA
LOS ANGELES, CA October
18, 2005:World Associates, Inc.
(“World”, PINK SHEETS: WAIV) announced
today that its wholly owned subsidiary, Superior Real Estate, Inc. (“Superior”),
has sold land it owned in Yucca Valley, California for $1,410,000. Superior
acquired the land in 2002 and created a plan of development that proposed the City
of Yucca Valley approve the site for 96 multifamily units. The project was
sold ready for final permits to a multifamily builder.
The Yucca Valley property was
purchased as part of Superior’s land development
business, which is the business of acquiring land and obtaining local entitlements
and approvals that allow a project to be built. LeRoy West, Superior’s
president, commented, “This project represents one example where the effort
to design and entitle a project added significant value to our investment. Adding
value to land is the objective of our land development business and the Yucca Valley
project was a step toward our larger goal.”
World Associates has plans
to create a land fund to significantly expand its land development business. It also intends to integrate a systems approach to sustainable
development into its projects. Sustainable project designs recognize that homes or
communities can most efficiently meet long-term needs when infrastructure is engineered
to function as a system that largely sustains itself. Projects designed using this
approach have significantly less environmental impact, are less expensive to operate,
are easier to get approved and result in a more appealing living environment that
enhances a project’s market appeal and value.
For more information:
http://www.worldassoc.com/
info@worldassoc.com
