updated 2/9/2011 3:45:45 PM ET 2011-02-09T20:45:45

OCEAN SPRINGS, Miss., Feb. 9, 2011 (GLOBE NEWSWIRE) -- On Saturday, February 12, 2011, Savannah Pines, LLC, will host an open house from 10:00 a.m. to 3:00 p.m. to unveil the completion of its second model home, Ashton, in the new Savannah Pines subdivision. The Ashton floor plan offers slightly more square footage than the original model, Windsor, with three-bedrooms, two bathrooms, and an attached garage. Saturday's event is open to the public and will allow interested homebuyers to tour both homes and learn more about the new subdivision, as well as offer a day of activities for prospective homebuyers and their families.

Ground has broken for Savannah Pines, a new single-family subdivision for low- to moderate-income families in Ocean Springs. The subdivision will strive to assist in the recovery and rebuilding efforts of the Mississippi Gulf Coast since the devastation caused by Hurricane Katrina. The first phase of the subdivision will consist of 178 homes with floor plans varying from three to four bedrooms. Windsor and Ashton are the first two of five floor plans that will be available.

Funding for Savannah Pines was pooled from multiple sources, including a $500,000 Affordable Housing Program (AHP) grant from The First: A National Banking Association, and the Federal Home Loan Bank of Dallas. The grant will assist 91 qualified, low-income families with down payment and closing costs on a new home in Savannah Pines.

Saturday's open house will include door prizes, music, food, drinks, and activities for the whole family. Local lenders and mortgage companies will also be available to assist potential clients and future homebuyers. The event will be broadcasted by 107.1 FM.

All media is invited to attend. Representatives from Savannah Pines and its vendor organizations will be available for interviews and photo opportunities. For more information regarding the event, please contact Savannah Pines at 228.875.2928.

WHEN: 10:00 a.m. to 3:00 p.m. on Saturday, February 12, 2011 
   
WHO:  Dr. Alfred E. McNair, Savannah Pines, LLC
  Jeff Cely, Savannah Pines, LLC
  Cheri Infante, Savannah Pines, LLC
  Teresa Sanford, Savannah Pines, LLC
  Shannon Shea, Savannah Pines, LLC
  Shon Johnson, Savannah Pines, LLC
  Tuyen Tran, Savannah Pines, LLC
  Marvin Dickey, Savannah Pines, LLC
   
WHERE: Corner of McNair Boulevard and Old Fort Bayou
  Ocean Springs, Mississippi 39564

**Please visit mysavannahpines.com for a map of directions.**

CONTACT: Corporate Communications
         Federal Home Loan Bank of Dallas
         www.fhlb.com
         (214) 441-8445

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 4.71%
$30K home equity loan FICO 5.26%
$75K home equity loan FICO 4.70%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.14%
17.14%
Source: Bankrate.com