New homebuilding firm formed by Development Associates

(The Enterprise) A new home-building company has been formed by the principals of Development Associates Inc. The homebuilding firm already has two residential projects started — Stillwater at Saratoga in Saratoga Springs and Valentine Estates in Woods Cross. Stillwater will have 237 sites with home prices starting in the $190s and Valentine will have a combination of 93 homes and 182 townhomes starting in the $170s. The property for the sites was purchased before the upswing in the market, so the developers are scaling back their prices to attract buyers who want a new home with a foreclosure price. Candlelight will also be handling home development in communities already started by DAI, this includes The Cove at Herriman Springs in Herriman, The Rivers and Hobble Creek in Springville, Crescent Hollow in Sandy, Edelweiss in Draper, Triple Crown at Mapleton in Mapleton and SilverLake at Eagle Mountain in Eagle Mountain.