/newsletter/rivendell-new[1].jpg Rivendell Development Corp is pleased to announce that Rivendell Homes is now the exclusive builder for Brentview Estates. Brentview Estates is an adult, gated, single family detached home community complete with clubhouse, swimming pool and RV parking. There are a total of seven distinct floor plans all with double attached garages, that can be purchased with either a Crawl space, a full unfinished basement or a fully finished basement. All homes come complete with a 2/5/10 New Home Warranty. This is a 4 phase 80 home project. Phase I is over 80% sold, Phase II will be introduced soon with Phase III and IV to follow.

Construction continues at a rapid pace on Phase II. We are framing on the third floor and have started the footings for the amenity building and pool area. The windows have arrived on site, and with the weather being cooperative with clear blue skies, we should be able to continue to see the building rise from the ground.

We have been checking into the implications of the GST reduction and our Phase II pre-sales and sales before January 1st, 2008. According to our accountant, at this point the Federal Government has not given official instructions on how the new GST rate will apply to contracts written in 2007 with possession in 2008. However, the last time GST was reduced for real estate transactions, the government created a "transition rebate", meaning that the homeowners would be able to apply to receive the 1% GST back. We will continue to monitor this situation and will advise when more information is available.