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r~ II I I. - I I I I I I I I I I I I I I I I THE SHELTE~/CAN-~~ERICAN GROUP PRIOR PERFORMANCE DEVELOPMENT ~OR SALE Shelter/can-American Group's naJor inv~lvement in projects for sale is in th~ 2,100 ~cre Westinghoute land development known as Pelican Bay, Naples, rlor1d~. Pellcan Bay is located on Florida's southwest coast Just north of the clty limits of Naples, Florida, and includes approxlrnately three mlles of shoreline on the Gulf ~f Me~lCO. Shelter/Can-American believes thal Peli~an Bay offers super lor redl estate develop~ent opportunities and has e~barked o~ two condominlum projects and intends to be involved in further d~velopment pr~je~ts in Pelican Bay oUling the next ten years. THF SANCTUARY AT PELICAN BAY The San~tuary at pelican Bay 1S a 72-unit luxury con~ominium development conSisting of five three-story garden style buildi~gs with two and three-bedroom suites. The buijdings surround a lake, pool and cabana area bordering the 15th hole of The Club at Pelican Bay, dn 18 hole, pat 72 championship golf course deslgned by Art~ur Hl11s. The buildlngs were constructed during the period 1981-83 Wlth all units sold and deliverad as of Decenber 1983. The sUlteo ranged in prlce from $175,000 to $245,000. Sales pc~ce~ds totalled approximately $14,000,000. INTFRLACHEN Ip 1983, Shelter/Can-Arnerlcan Group began the marketing of Intc(lachen, a luxury garden condow1nium and vll1a development sltuated on 9.7 acres with frontage on the 9th hv~e of the pelican Bay Golf Course. The total proJect lS proposed to inGlude 93 units: 69 sUltes in four g3rden conaomlnium buildings and 240 villa homes in nine cluster buildings. The two-ana three-b~droo~ units have all been designed wlth spacious deck and porch areas which of[~r a view of the fully landscaped ground~, pool, lakes, cabana area and golf course. TO date, 30 condomln1~m and v111a hones have bee~ developed, sold and closed. Construction 15 currently underway on a 19 unit condomin~um buildlng and seven v1llas. The condomin11.m sUltes and v1llas range 10 prlce from $200,000 to $350,000. The total proJect cost 1$ currently set at $20,000,000.