GAETA Development Co. Expands Into the Luxury Residential Market- Announces Treasure Coast's Latest Waterfront Development

Palm Beach Gardens, FL (September 28, 2001) . . . GAETA Development Co. (GDC) a local developer of distinction, today announced it has broken ground on The Cove, a luxury residential project, in Jupiter, Florida. GAETA Development Co., which has enhanced Palm Beach County¡¯s landscape with well over 100 commercial, retail and industrial projects, is making its foray into the luxury residential market. However, unlike many luxury residential communities, when you buy a home in The Cove, standard in the purchase price are features such as marble flooring, beautiful coffered ceilings with crown moulding, pool and spa, granite counter-tops, custom European cabinetry, and clay-tile roofs. President, Neil Gaeta, stated, ¡°Unlike many home packages being offered in the area, The Cove¡¯s home packages come standard with a finish level that is commensurate with the cost.¡±
The homeowners in this tranquil and peaceful setting are afforded the lifestyle and ambiance of neighboring communities with one other added amenity that you don¡¯t have to pay for¡ªFREEDOM. The Cove is not a club and as such does not mandate excessive membership dues.                            
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GAETA Development Co., Page 2.
Commenting on the methodology, Neil Gaeta stated, ¡°When designing The Cove, we wanted to create a community which provided the homeowner the freedom to live their own individual lifestyle without having to subsidize amenities they may never use.¡±
The Cove homes, situated on waterfront parcels with intracoastal access, are Tuscan inspired, with expansive open floor plans and interior appointments reminiscent of authentic Italian master plans. The gated community will feature one and two-story homes, with between 3,000 and 5,000 sq. ft. of air-conditioned living space. Located at Donald Ross and Palmwood Roads and encompassing 20 home sites, The Cove is adjacent to the exclusive Bear¡¯s Club and the future home of the Ritz-Carlton Golf Club & Spa. Its location places The Cove at the heart of some of the best golf in the country and about a mile from the pristine sandy beaches of Jupiter. Occupancy in The Cove is slated for the fall of 2002.    
    GAETA Development Co., a member of the local community for over 20 years, provides clients with a full spectrum of services, including site acquisition, facility design, site planning, government approvals, financing, land development, construction services and property management. For more information on The Cove, contact Neil Gaeta at 561-627-1900 or visit the website at www.thecoveonline.com. For more information on GAETA Development Co., and its projects, contact Tirzah S. Roberts at 561-627-1900 or troberts@gaetadevelopment.com.




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