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The City of La Palma and Olson Homes Announces Grand Opening of Tapestry Walk, La Palma’s First New Homes Since 1996

April 19th, 2012

La Palma, CA.– April 19, 2012 – Olson Homes, the leading developer of in-town urban living, announces the official ground breaking event of Tapestry Walk the first new home residential community since 1996. City officials will be present for the groundbreaking dedication including Mayor, G. Henry Charoen, La Palma Council Members, city department heads and staff.

The City of La Palma acquired the property in December 2010 and The Olson Company was awarded the project through an RFP process in March 2011. The Tapestry Walk community will consist of 12 townhomes with three of the homes set to be sold to low income buyers and another three of the new homes to moderate income buyers. The remaining homes are to be sold at market rate expected to be priced from the low $400,000s.

Tapestry Walk is located adjacent to Montecito Villas on La Palma Avenue. Tapestry Walk will be the first new homes built in the City of La Palma since the Montecito Villas were developed by The Olson Company in 1995-1996. La Palma’s central location, retail, services and proximity to employment, easy freeway access, good schools and recreation, will attract local buyers as well as buyers from both Orange and Los Angeles Counties. The shortage of new homes, limited supply of resale homes in the area as well as competitive price points will make Tapestry Walk a good value to potential buyers who currently rent and are desire a move up home or location.

La Palma was named the 16th Best Small City in the country by Money Magazine in 2007 because of the quiet and friendly environment, great schools, nice homes, and well maintained streets and public areas. Accordingly to Money Magazine in 2011, La Palma was one of only three California Cities to make the top 100 list. The top 10 employers in La Palma include Kellogg’s, ADP, and Honeywell that together employ over 2,600 people in a town that is only 1.8 square miles in size.

Tapestry Walk will consist of three different floor plan types ranging in size from 1,346 to 1,819 square feet and offer up to four bedrooms and two and up to three bathrooms.

The Olson Company’s numerous successful urban living developments across Southern California over the last 22 years reflect its commitment to the homebuyer as top priority. With its notable homeowner satisfaction, The Olson Company has garnered prestigious Eliant Awards in six categories in 2010, including a number one ranking for the “Design Selection” experience, and second for delivering an incredible experience during the Purchase, Construction, and Customer Service phases, and ranked second for “Overall Quality” and “Sales from Referrals.” The Olson Company believes in “livability,” and implements a thoughtful and detail-oriented approach from concept through execution. As part of their unique approach to providing these communities, The Olson Company understands all that goes into buying a new home and provides tailored services to support the needs of homebuyers, such as financial education and continued support services.

The Tapestry Walk Sales Office is located at 5410 La Palma Avenue, CA 90623. For more information or to sign up for the interest list, visit the new website at www.tapestrywalk.com. For additional information on other Olson Homes communities visit: Olsonhomes.com.