AV Homes Rebrands Its Active Adult Communities
"Vitalia" Embodies Independence, Exploration and Richness of Life
KISSIMMEE, Fla., April 12, 2012 (GLOBE NEWSWIRE) -- AV Homes, Inc.™, (Nasdaq:AVHI) which less than two months ago operated as Avatar Holdings Inc, has taken another step in its rebranding of the company and its products, this time unveiling "Vitalia™" as the new brand identity for its active adult communities targeted to people age 55+.
The move is part of the company's new strategic direction that will expand its product offerings and geographic footprint into new markets, allowing it to better serve the changing lifestyle aspirations of the nation's 78 million Baby Boomers. The strategic planning initiative was launched last fall when the company engaged the real estate consulting firm RCLCO to assist it in the identification of emerging market opportunities which it was best prepared to serve.
The strategic planning process was well timed according to President Carl Mulac. "This initiative aligned perfectly with the re-engineering of our operations. We sensed the market was on the verge of recovery and we needed to make sure we were positioned to participate in the rebound," Mulac said.
The company says its new Vitalia brand has strong appeal with a large and growing segment of the housing market — households 55+. The National Association of Home Builders projects that 40% of all housing starts in 2012 will be attributable to a 55+ household and it sees that market growing by as much as 25% in 2013.
AV Homes conducted research among its target market in developing the name Vitalia. "We were looking for a name that had strong connection and meaning with Baby Boomers," Mulac said. "Vitalia tested very favorably and conveyed characteristics such as exploration and discovery, independence, fulfillment and richness of life. Anyone visiting our existing active adult communities in Arizona and Florida will immediately see the link between these values and the lifestyle we provide," Mulac said. "We serve a generation that is ready to enjoy their life's rewards and Vitalia has been designed to deliver a greater individual richness to their lives," he added.
AV Homes will not change the names of its flagship active adult communities in Arizona and Florida; CantaMia™ and Solivita™ respectively. However, all future active adult communities will prominently feature the Vitalia name and its presence has already been designed into a new website, www.vitaliahomes.com, and other collateral materials, billboards and advertising.
"The homebuilding industry has changed in some dramatic ways as a result of this five-year downturn. We've studied these changes and restructured our company so we could respond quickly to these new market opportunities while capitalizing on our expertise in serving Baby Boomers," Mulac said.
AV Homes has a long history of serving the housing and lifestyle demands of the active adults 55+. The company currently operates large-scale master-planned active adult communities in the Phoenix and Orlando areas. It is also exploring new product opportunities with smaller scale "boutique" active adult communities, as well as other innovative products designed to serve people 55 and older.
Simultaneous with the introduction of the Vitalia brand, the company also branded its traditional homebuilding operations that serve buyers of all ages under the name Joseph Carl Homes (www.josephcarlhomes.com). AV Homes acquired that brand in 2010 when it purchased and merged the Arizona operations of that company with AV Homes. "We have now completed our rebranding activities and have three strong identities which we can continue to build upon," Mulac said.
Ken Plonski, Vice President of Comunications
AV Homes, Inc.
About AV Homes
AV Homes, Inc. was formed in 1970. It is best known for the development of Poinciana, an award-winning 47,000-acre master-planned community near Orlando, Florida. Today, the company is engaged in homebuilding, land development and other real estate operations in Florida and Arizona. Its principal operations are conducted at its 55+ active adult communities — Solivita near Orlando, and CantaMia near Phoenix. It also builds homes for people of all ages in Central Florida and Phoenix through its Joseph Carl Homes brand.
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Source: AV Homes, Inc.
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