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Watermark under way

Pardee Homes has construction under way at its Watermark, a neighborhood of 87 single-family detached homes located in the Pacific Highlands Ranch master-planned community.

The homes are anticipated to open for sale in late February 2013.

Pricing is anticipated to be from $1 million, said Matt Sauls, director of marketing for Pardee.

Each two-story home will have five bedrooms in three floor plans ranging from approximately 3,394 to 4,163 square feet.

Room options may include an available outdoor living room, game nook, optional library or complete suite with private entry.

Watermark will be incorporating Pardee's LivingSmart array of standard and optional measures that boost energy efficiency, help reduce water consumption and improve indoor air quality,” Sauls said.

With LivingSmart, Watermark energy efficiency will exceed California's Title 24 criteria.

Watermark offers residents exclusive use of the private, resort-style Pacific Highlands Ranch recreation center.

Mississippi dumped

(AP) -- Mississippi taxpayers may have only an empty 85,000-square-foot Senatobia building and solar panel equipment to show for $26 million in loans to Twin Creeks Technologies.

The California-based solar technology firm is liquidating and a company that bought Twin Creeks' assets won't take over its agreement with Mississippi.

Twin Creeks had agreed to invest at least $132 million and create at least 500 jobs in exchange for loans, tax breaks and other aid.

The state sued Twin Creeks and has had a temporary restraining order against the firm since Nov. 8.

Twin Creeks, like many American solar firms, was swamped by a wave of cheap solar panels imported from China, said Kathy Gelston, chief financial officer for the Mississippi Development Authority.

Twin Creeks also struggled to make its equipment produce energy at a high-enough rate, said Janie Mortimer, executive director of the Tate County Economic Development Foundation.

Mortimer said that the company never had more than 25 employees.

The state loaned Senatobia $15 million to construct the building and $8.2 million to buy equipment.

It also transferred $3.5 million to the city, mainly in a loan but partially in a grant, to prepare the site and build infrastructure.

Windy water leases

(AP) -- The federal government plans to sell leases for wind farms off the coasts of Rhode Island, Massachusetts and Virginia, marking the first time it has sold competitive leases for wind energy on the outer continental shelf, officials said Friday.

The leases for the two areas, which total more than 430 square miles, will be sold next year, the Department of Interior and its Bureau of Ocean Energy Management said.

Officials said each area could be developed to generate enough electricity to power 700,000 homes.

London luxury prices

(Bloomberg) – Luxury home prices in central London rose at their slowest rate in more than two years in November as investors delayed purchases ahead of possible new property taxes, according to Knight Frank LLP.

The average price of a house or apartment in the U.K. capital's most expensive neighborhoods climbed 0.4 percent from October, according to an index compiled by the London-based broker.

Chancellor of the Exchequer George Osborne may introduce levies on homes valued at 2 million pounds ($3.2 million) or more in his Autumn Statement next month.

The U.K. government is weighing an annual charge of as much as 140,000 pounds on properties owned by offshore companies and may charge capital gains tax on the sale of luxury homes by nonresidents who aren't naturalized.

Brokers like Knight Frank, Jones Lang LaSalle Inc. (NYSE: JLL) and Savills Plc (PNK: SVLPF) forecast that prime central London home prices will be little changed in 2013.

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