6 - QUARRY DEVELOPMENT

IRG's Quarry development will be comprised of 970 acres and will have a total of approximately 1500 residential units in a wooded and rural setting, of which 250 will be condo hotel units that can be placed into a rental program.  There is a lodge/club component that will be the centerpiece of the community.  The lodge will have a restaurant, lounge, day spa and meeting space.  IRG has also planned close to 20 miles of walking and equestrian trails throughout the property.  Other amenities are an equestrian center with indoor and outdoor show rings, non-powered watercraft boating in some of the quarries, indoor activities building with racquetball, basketball and indoor pool, trap and skeet area, and a 100 ft. water fall.  They look for pre-sale activities to start sometime in mid 2008 and completion of all phases of the community sometime in 2018.  The developer, Stuart Lichter is new to residential development.  His firm "Industrial Realty Group" from Downey, California, has mostly done conversions of industrial sites into sub divided warehouses to mixed use developments throughout the country.