St Augustine, Fla. September 29, 2005 --- SeaGate Homes, one of the fastest growing homebuilders in the U.S., recently announced that pre-sales have begun on homes in Ravenswood Forest located on Ravenswood Drive off Masters Drive in St Augustine. The homes are being built through the company's Coastal Homes division.

"Ravenswood Forest has been a much anticipated piece of St. Johns county's affordable housing initiatives,” Tom Crawford, Director of Housing & Community Services stated.  “These are quality block-construction homes built by Coastal Homes.   The developer, Ginn Financial Group, worked hard to make this subdivision a reality.   Many of these new homes have down-payment assistance and will benefit county, municipal, Board of Education, Police Department, Sheriff's Office and other service personnel.  The need for quality, affordable workforce housing in St. Johns County is critical.  Ravenswood Forest is a true benefit for both homebuyers and the County's redevelopment efforts."

65 of the 136 home sites at Ravenswood Forest are part of a federally funded affordable home program through the Department of Housing and Urban Development under the Home Ownership Loan Program.  Depending on income, buyers may receive down payment assistance of up to 25 % of the sales price.  In order to qualify for the program buyers must occupy the homes and income limits apply. 

“The down payment assistance program being offered in Ravenswood Forest helps families purchase homes,” Deborah Fisher, Director of Marketing, recently stated.  “SeaGate Homes was founded on the principle of providing quality homes of value to homebuyers.  Although the number of homes that we build each year has dramatically increased over the past decade, the focus of our company is still on value and helping families achieve their dream of home ownership and we are excited to be a part of this wonderful new community.”

Homes in Ravenswood will be built with concrete block construction with an emphasis on energy efficiency and low maintenance.  Homes include such standard features as 30 year premium fiberglass algae-resistant shingles, 12 SEER energy efficient air conditioning systems, refrigerators, microwaves, ceiling fans in all bedrooms, hurricane shutters, and a 15 -Year structural warranty.  Buyers may choose from three home designs under the affordable home program ranging in size from 1,050 to 1,137 square feet.  All homes feature three bedrooms and two baths and include attached garages.  Pricing in Ravenswood ranges from $133,000 to $139,900.  A model is open daily for viewing at SeaGate’s Palm Coast Model Center located at 1 Point of Woods Drive off Belle Terre Drive.

Recently, Builder magazine recognized SeaGate Homes as the 154^th largest homebuilder in the U.S.  Headquartered in Flagler County, SeaGate Homes is one of Florida’s largest privately held

homebuilders. The company, which was started in 1994, is currently building in Flagler, St. Johns and Volusia Counties.  For more information on the homes in Ravenswood, contact the company’s Palm Coast model center at 386.437.3148, or visit the SeagateHomes.com website.