Taylor Morrison - Fall 2013

breaking

ground YOUR HOME  LIFESTYLE  DREAMS

TAYLOR MORRISON:

A LEGACY OF INNOVATION

FROM HUMBLE BEGINNINGS TO BUILDER OF THE YEAR • PAGE 4

What’s to adore at Adora Trails

Energy efficiency with Dave Chesley

Big Red Backyard contest

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2012

community spotlight What’s to Adore at Adora Trails?

The patio and kitchen at the Adora Trails Clubhouse

 One- and twostory homes with 30 available floorplans (Encore, Discovery, Odyssey and Summit)  10-acre community park with picnic tables and grilling stations  Outdoor basketball courts, soccer and baseball fields  12 acres of walking trails  Catch-and-release lake stocked with fish  Staffed clubhouse with gourmet kitchen, great room, living room, indoor/outdoor fireplace and mountain views  Extensive workout facilities, including treadmills, weight machines, men’s and women’s locker rooms  On-site elementary school and nearby Chandler Unified School District schools  Close proximity to San Tan Village shopping center and other retailers

ADORA TRAILS

All Trails Lead to Living a Dream With its 30 stunning floorplans, community elementary school and range of resort-style amenities at the base of the San Tan Mountains in the southeast Valley, life at Adora Trails in Gilbert couldn’t get much better.

Well, actually, it just did! The masterplanned community’s already spacious and well-appointed clubhouse recently underwent a transformation that more than doubled the facility’s space and added a fabulous new fitness area. The airy, glass-walled, 5,800-square foot expansion, designed by the respected Phoenix firm Douglas Fredrikson Architects, looks out onto the mountains and the catchand-release lake, one of the community’s main attractions. The result is an awe-inspiring environment, according to Lynne Dugan, Land

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Resources Manager for Taylor Morrison.

“The building feels like it’s in the lake because it’s only ten feet from the water,” she says. “It really is a unique setting.”

The addition makes way for a kids’ play corner, locker rooms for men and women, separate areas for free weights and circuit machines and a life studio where classes like yoga can be held. Dugan says the clubhouse also now touts a new healthcare tool that’s not found just anywhere: a Fitness on Demand kiosk that offers online fitness classes at, quite literally, the touch of a button.

“You just select which class you’d like to take and the time you’d like it offered and, at the appropriate time, the projector and screen turns on in the life studio,” Dugan says, adding that the full-time staffed club-

house will have on-site fitness instructors in the future as well.

Chris Evans, who moved to Adora Trails with his wife, Jen, over the summer, has been more than pleased with the clubhouse’s treadmills and weight machines, no doubt partly due to the fact he was able to cancel his gym membership. He needed one at the last community he lived, where clubhouse fees were a substantially extra charge on top of the HOA fees.

At Adora Trails, the clubhouse fees are “rolled into existing HOA fees,” he says, which is “very nice.”

Evans says the area and choice of floorplans initially attracted the couple to their new neighborhood, which also features a heated pool, a dozen miles of walking trails and a huge park. And as soon as they finish unpacking boxes, they’ll explore it all.

“We’re excited about being in the community,” he says.

blueprint coming soon

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NORTH BY NORTHWEST LUXURY AT

NORTHLANDS Close enough to the office, shops and restaurants, but far enough to feel away from it all.

Welcome to Northlands, a new community near Happy Valley Road and Lake Pleasant Parkway in Peoria that offers a range of clever and stylish floorplans with its Passage, Encore and Summit collections. Like the other Taylor Morrison neighborhoods of Terramar and the Estates at Happy Valley in Peoria, Northlands offers homebuyers a gracious, laidback lifestyle in one of the Valley’s most desirable areas.

“Peoria’s a beautiful place to live, and the terrain and topography are very much what you’d see in Scottsdale,” says Rebecca Zook, deputy director of Economic Development Services Department for the city.

The peaceful Sonoran Desert beauty is indeed on full display in Peoria, with Sunrise and West Wing mountains taking center stage amidst the 176-plus square miles of the city, which also touts plenty of hiking trails, parks and open space. Outdoor

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enthusiasts will delight in Lake Pleasant and its amenities, like boating, camping and fishing and swimming and sports fans can get their game on at the Peoria Sports Complex, the spring training home of the Seattle Mariners and the San Diego Padres, or travel to nearby Surprise Stadium, spring training home of the Texas Rangers and the Kansas City Royals.

Those who like to recreate mostly indoors will enjoy P83, the pedestrian-friendly entertainment district featuring restaurants, bars, shops and an ice-skating rink, or they can head to the adjacent shopping district in Glendale. Other area amenities include top-notch K-12 schools; excellent higher-education options like ASU West and the Thunderbird School of Global Management, both in Glendale; and medical care and hospitals, such as Banner Del E. Webb Medical Center in Sun City West.

That said, change is coming to Peoria, and city officials say it’s going to be great.

One change that’s already taken place

is the establishment of a branch campus of Indiana-based Trine University, which opened in August, making it the city’s first higher-education institution.

“We need centers for education and centers for excellence,” notes Maria Laughner, the city’s Business and Real Estate Development Manager, adding that the city’s also in talks with two other colleges.

She says Peoria’s also responsibly growing new projects, like an upscale, mixeduse development area near the sports complex, and attracting new players, like energy-storage and power-delivery products provider Maxwell Technologies, which will open its manufacturing facility soon.

The city’s also a partner in BioInspire, an incubator devoted to medical device development.

“It’s a very exciting time,” adds Zook.

A Tuscan Elevation rendering of The Telluride floorplan, offered at Northlands in Peoria.

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cover story

A COMMITTMENT TO BE

THE BEST

A LEGACY OF INN Taylor Morrison’s

We admit it. All of the folks at Taylor The Builder of the Year is chosen from the Builder 100 list, an Morrison believe our company’s annual list produced since 1984 by the magazine, which determines the by far the best in the industry, led by 100 largest home-building firms from data it collects via direct survey of the a team whose vision and insight result country’s top builders. Taylor Morrison ranked No. 14 on the list, which is in beautiful, quality homes being built ranked by the number of closings in the United States. in vibrant communities throughout North America. Turns out we’re not the only ones who think so! and I believe this award highlights fairly short time and have purchased Builder magazine recently honored that commitment.” a Texas-based homebuilder, providTaylor Morrison with its prestigious John McManus, Builder’s edito- ing access to the Dallas-area market.

1880 George Wimpey working busine 1890’s George Wimpey London’s first e 1907 Wimpey begins roadways for th Council and the Olympics.

1917 Canadian subsi found by local l vehicle on apar 1919 George Wimpey company under Wimpey & Co. L 1921 16-year-old Fra homes in Black 1923 Frank’s uncle Ja name to the und a legal business Woodrow is bor

Builder of the Year award, recognition of a company’s excellence in successful business strategy, achievements and corporate leadership. The announcement was made this past May at the magazine’s annual Housing Leadership Summit in Scottsdale, where Taylor Morrison is also headquartered. Builder is the leading media brand in the residential construction industry and serves as the magazine of the National Association of Home Builders (NAHB).

Sheryl Palmer, President and Chief Executive Officer of Taylor Morrison, said not only is the company honored and privileged to receive the accolade, but also noted the honor “is a testament to our dedicated team members and the company we’ve built. In each of our communities across the United States and Canada, we strive to create quality homes that families can be proud of,

1928 Wimpey enters business, open – the Greenford 1930’s Wimpey begins 1,200 houses p 1934 George Wimpey company.

1935 Taylor Woodrow traded compan

Taylor Woodrow letter debuts wi pulling on a rop inspire the Taylo years later.

Taylor Woodro record for hous structing a hom Estate in eight old record by t 1936 Taylor Woodrow average more th week.

Frank Taylor arr first American la Island, N.Y. for $

Wimpey wins it engineering job Estate.

Monarch builds Canada.

2012

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About the award…

rial director, says he and his staff selected Taylor Morrison because of the “transformative and gamechanging” actions its management team have taken over the years, all while dealing with challenges that could have been devastating to companies left in lesser hands. He notes that when Palmer was named CEO in 2007, not only was the economy was rocky, but Taylor Morrison also had just been created by the merger of Taylor Woodrow and Morrison Homes.

Nevertheless, McManus says, Palmer “did a fantastic job at putting those companies together” and creating a unified group from what had been two different mindsets.

Then, by using cash and their collective smarts, she and her team got out ahead of others in the industry, he says. They amassed a number of land tracts from California to Florida in a

“That distinguishes them from all the other companies just treading water and minding their balance sheets,” McManus says.

In 2011, change came again when Taylor Morrison was sold by its British parent company and was purchased by private equity partners for $955 million. And, just this April, as the housing market showed continued improvement, the company became a publicly traded company (NYSE: TMHC), raising more than $722 million in its initial public offering and selling more than 32 million shares for $22 each.

All in all, McManus says, Palmer’s done an amazing job of leadership in a tough industry.

“Taylor Morrison has shown itself to maybe not be the biggest of the companies in the batch,” he says, “but it knew how to break ground and become a significant player.”

NOVATION former parent company began in the U.K. in 1880 and emerged into one of the largest homebuilders in the world

ey establishes stone ess in the U.K. ey begins roadwork for electric tramway. s building tramways and he Middlesex County e 1908 London

idiary, Monarch, is lawyers as a lending rtment buildings. y becomes a private r the name George Limited. ank Taylor builds two kpool, England. ack Woodrow lends his nderage Frank to create s entity and Taylor orn.

the private housing ning its first development d Park Estate. s building an average of per year. ey becomes a public

w becomes a publiclyny. w’s first employee newsith a photo of three men pe. The photo would or Woodrow logo 20

ow breaks the U.K. se building by conme in Cranford Park days – breaking the two days. w is building on han 50 homes per

rives and makes his and purchase in Long $1 million. ts first large-scale civil b, Team Valley Trading

s its first house in

1937 Taylor Woodrow expands into contracting and civil engineering by forming Taylor Woodrow Construction Ltd. 1939 Taylor Woodrow Construction and George Wimpey form Western Engineering to build militia camps for the impending war against Germany.

1940’s Taylor Woodrow rises from house builder to one of the world’s largest contracting and civil engineering firms.

1947 Wimpey perfects the “No-Fines” technique at Eastcote in Middlesex, allowing walls to be poured with no fine aggregate in the concrete and homes to be constructed without bricks.

Taylor Woodrow expands its operations to East Africa.

1948 Taylor Woodrow is now building houses, schools and factories in England, North America and Africa.

1950’s Wimpey builds 18,000 Local Authority dwellings per year in the U.K.

Wimpey builds its first Canadian housing development in Toronto.

Wimpey begins building three power stations in Hong Kong.

Wimpey begins property development.

1950 Taylor Woodrow receives its first major office building contract, London’s Atlantic House, designed by Sir Thomas Bennett.

1951 Taylor Woodrow expands its operations to Australia.

1952 Taylor Woodrow begins two decades worth of construction at London’s Heathrow Airport.

1953 Taylor Woodrow begins construction on the world’s first full-scale nuclear power station.

1954 Taylor Woodrow Canada is formed when the company buys a controlling interest in Monarch Mortgage and Investments Limited.

Taylor Woodrow has projects underway on every continent.

Wimpey wins contract to build its first hydro-electric plant.

1956 George Wimpey Canada completes its first major project.

1963 The Taylor Woodrow Property Company is established to acquire land.

1966 The Hong Kong Ocean Terminal is built by Taylor Woodrow International.

1969 Monarch purchased first master planned community, The Bridle Trail, Unionville, which lasted into the new millennium.

1970 George Wimpey Canada builds 2,000 homes in one year.

1973 Monarch purchased next master planned community, Millcroft, Burlington with construction lasting until 2007.

1974 Taylor Woodrow and George Wimpey become founding members of the Channel Tunnel (soon to be known as the Chunnel) consortium.

1975 Wimpey launches development arm, Wimpey Property Holdings.

2007 George Wimpey and Taylor Woodrow merge to form Taylor Wimpey in the U.K. and Taylor Morrison in North America.

2008 Taylor Morrison becomes the Official Builder of the Dream Home at Innoventions in Disneyland® Park.

2009 Taylor Morrison is inducted into the “Best in American Living Award” Hall of Fame. Taylor Morrison has won more BALA statues (36) than any other homebuilder.

Taylor Morrison’s West Florida Division wins AVID Award for highest customer satisfaction scores.

2010 GHBA Houston’s BEST Builder of the Year.

Monarch wins BILD “Home Builder of the Year” Award.

2011 Taylor Morrison and Monarch are

1984 George Wimpey acquires American homebuilder Morrison Homes.

1988 Darling Homes broke ground in their first community, Quail Creek in Stonebridge Ranch.

1992 Taylor Woodrow Construction builds Main Street U.S.A. at Disneyland® Paris.

1994 The Chunnel, a 31-mile rail tunnel beneath the English Channel opens.

George Wimpey and Taylor Woodrow are two of the five contractors to have worked on the project.

1995 Monarch High Rise builds its first condominium in Canada.

1998 Darling Homes enters the Houston market with ‘The Enclave’.

2000 Taylor Woodrow acquires U.K. homebuilder Bryant Homes. This was transformational in terms of the scale of Taylor Woodrow’s U.K. homebuilding business and the first step in the transition to a ‘pure’ homebuilder.

2002 George Wimpey acquires U.K. homebuilder Laing Homes.

2003 Monarch wins OHBA “Home Builder of the Year” award.

2006 Taylor Woodrow appears twice on the hit ABC Television show, Extreme Makeover: Home Edition.

acquired by TMM Holdings Limited Partnership and renew their journey as a North American centric homebuilder.

2012 Taylor Morrison launches The Interactive Home™.

Taylor Morrison launches elem3nts™, to promote homes that use energy in smarter and more efficient ways.

Taylor Morrison purchases Texas homebuilder Darling Homes.

2013 Taylor Morrison becomes a public company.

Taylor Morrison named Builder of the Year for 2012 by Builder Magazine.

The contents of this historical timeline is for informational purposes only and does not constitute an offer for sale or lease of any product or services in any jurisdiction. All registered and unregistered copyrights, service marks, trademarks and other proprietary intellectual property rights contained in this publication are either owned by Taylor Morrison Inc. or its affiliated entities and subsidiaries (“Taylor Morrison”) in and outside of the United States and are used with the permission of the respective owner(s) for use in this publication. Taylor Morrison is a subsidiary of Taylor Morrison Home Corporation. All information contained herein is deemed reliable but not guaranteed as to its accuracy or completeness. All information remains subject to change without notice and should not be construed as investment advice or assurance of future performance. © 2013. Taylor Morrison, Inc. All rights reserved.

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inside dirt DAVE CHESLEY

Area Construction Manager for Taylor Morrison

HERS YOURS

FIRST IT’S THEN IT’S Energy efficiency key at Taylor Morrison

Building the most desirable home possible is always our goal at Taylor Morrison. That’s why our company elected a while back to partner with the ENERGY STAR program to build certified, energy-efficient homes designed to protect the planet, and homebuyers’ pocketbooks, as much as possible. It wasn’t something we had to do; it was something we wanted to do.

To qualify for this government-backed program, our homes under construction are randomly tested and verified three times by an independent third party during the building process: when the home is framed, insulated and just prior to it being released to the owner.

The inspectors use the Home Energy Rating System (HERS), a national index that measures a house’s energy efficiency. The lower the HERS number, the more energy-efficient the home. While a standard new home equals a rating of 100, we’re proud to note that a new, Phoenix-area Taylor Morrison home’s num-

Dave Chesley checks the insulation at a new Taylor Morrison home.

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Q&A

P.J. SATURNO

Assistant Vice President and Regional Manager for Taylor Morrison Home Funding

Q | I see interest rates have risen. Is it still a good time to purchase a home?

A | It’s true that it’s a volatile time in the rate markets, and there

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ber is going to be 70 or better!

Numbers like that assure our customers that they’re getting a quality, high-performing, and environmentally conscious new home.

To help save on a home’s cooling costs, we include dual-pane, low-E vinyl frame windows in every Phoenix-area home we build. Homes built to these high performance standards require a number of ventilation strategies to ensure the proper number of fresh air exchanges within the home.

are always unpredictable factors that can affect them, but it’s also a fact that current interest rates are still at historical lows. We saw a spike in rates earlier this year, putting them about where they were two years ago, but recently rates dropped back a little. That said, it’s still a great time to purchase. You may remember that rates in the early 90’s were in the 10 percent range, and even as recently as 2008, they were hovering around six percent. Many of today’s homebuyers have never witnessed those kinds of high numbers, but they have an excellent opportunity now to take advantage of the tremen-

Another performance feature we include is radiant-barrier plywood, which reduces attic temperatures by 10 to 30 degrees and, in turn, reduces a home’s cooling costs. That energy savings can have a big impact on your monthly utility bill.

When it comes to increasing energy efficiency and being an environmentally responsible company, little things really do add up to a lot. We’re glad to do our part to make the world a better place.

dous buying power these rates afford.

We have many programs that allow a buyer to lock-in an interest rate for up to 90 days without any additional costs. Also, homebuyers who are anxious about rates rising might consider Taylor Morrison Home Funding’s extended interest rate lock-in plans, which guarantee a specific interest rate as long as the home loan is closed within a timeframe of up to 180 days. Fees vary, but many buyers find these options priceless as they offer peace of mind. Restrictions apply; please see a Taylor Morrison Home Funding loan consultant for details.

summer entertaining

To enter, go to www.BigRedBackyard.com

BIG RED BACKYARD

Chef Eddie adds a Middle-Eastern twist for game-day grilling We know you’re ready for football season, but is your backyard?

Enter the Big Red Backyard contest sponsored by Taylor Morrison and Southwest Gas and you could win the ultimate in backyard bling: a professional-grade, $4,000 Solaire gas grill!

This stainless steel beauty, from the company known for building “the muscle car of gas grills,” features 703 square inches of grilling area, an infrared dual fuel grill, two main burners EDDIE MATNEY that fire at 55,000 BTU/ hour and a built-in cart.

Just imagine: Your patio could become Party Central, especially with the additional backyard gear included in the contest, which makes this party package valued at $5,000!

Of course, whether you win or not, you can still put on a smokin’ hot tailgate party.

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Just start with a can’t-fail combo like meat and potatoes, invite a few friends over and turn on the big game. Hamburgers and chips are nice, but step it up and see what happens!

Chef Eddie Matney of the renowned Eddie’s House restaurant in Scottsdale offers this Middle Eastern-inspired twist on the traditional hamburger, plus a side dish of hearty, grilled ‘taters. SCORE!

Kefta Burgers

Harissa Salsa

1 lb. 80/20 ground chuck 2 tsp. olive oil 1 Tbsp. chopped parsley 1 Tbsp. chopped mint 2 tsp. granulated garlic dash Worcestershire sauce to taste salt and pepper

4 red peppers;

roasted, peeled,

seeded, then diced ½ yellow onion, diced 2 garlic cloves, chopped 1 Tbsp. olive oil 2 lime, juiced 1 Tbsp. chopped mint 1 Tbsp. chopped cilantro 1 Tbsp. Dijon mustard 2 tsp. crushed red pepper 2 tsp. cumin to taste salt and pepper

Combine all of the above in a mixing bowl and mix well.

Mold 2 oz. of meat on a skewer, shaping it into a sausage link-like (or even a bigger, hot dog-sized link) form. Season with salt and pepper and grill to desired temperature.

Grilled Yukon Gold Potatoes 10 Yukon Gold

potatoes, sliced

½-inch thick 1 Tbsp. olive oil 1 Tbsp. granulated garlic to taste salt and pepper 2 tsp. thyme Combine all of the above in a bowl and mix well. Place the potatoes on the grill and cook until they are soft. Serve as side dish.

Combine all ingredients in a bowl and mix well. Top kefta burgers with salsa and place one (or several, if small) in pita pockets.

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inspired ideas

FOR OUR ‘EVERYDAY HEROES’ Everyone at Taylor Morrison is appreciative of the “everyday heroes” in our midst, the men and women who devote their lives to public service. Take a look at two worthwhile programs we support, both of which are ways we give a little something back to the community:

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• The Public Service Rewards is a special Taylor Morrison program that allows Phoenix-area servicemen and servicewomen, on active duty or retired, to qualify for an additional 1 percent of the base price of a home they are purchasing to be used toward Design Studio options. That could, for example, mean a nice upgrade or two, at no additional cost to you.

This exceptional offer, which is good through the end of this year, is also available to currently employed firefighters, police officers and teachers. Buyers need to show documentation of current military status or employment and may not combine this Patterson Elementary School teacher Michelle Capriotti holds her “Excellence in Education” offer with any other offers or promotions. award as she’s joined by KEZ radio’s Marty Manning (left), Patterson Principal Valerie Pollitt This program is not available outside the and Taylor Morrison’s Bob Thompson.

Phoenix Division of Taylor Morrison. See a sales associate soon for more details!

Taylor Morrison Communities

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Taylor Morrison/Arizona, Inc., ROC # 179178B. © November, 2013, TM Homes of Arizona, Inc., AZ DRE # CO535669000.

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• Taylor Morrison is partnering this school year with 99.9 KEZ FM to honor Arizona K-12 teachers with the “Excellence in Education” award.

Michelle Capriotti, a sixth-grade teacher from Charlotte Patterson Elementary School in Gilbert, was recently feted for being an “amazing role model” for children. “I wish I could take 6th grade again,” says one student, whose mother nominated Capriotti.

Bob Thompson, Taylor Morrison’s vice president of sales and marketing for the Phoenix division, and KEZ’s Marty Manning presented “Mrs. Cap,” as the kids call her, with a plaque at school as her students gleefully watched. She and the other winning teachers receive $99, an Excellence in Education plaque and prizes from KEZ and Taylor Morrison. At the end of the year, all winners will also attend a banquet, where one will receive an extra bonus: $999.

Want to nominate your child’s teacher? Go to kez999.com and search “excellence in education.”

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