Santa Fe, NM – A New Mexico builder that has spent its first 10 years in Santa Fe doing business as Rancho Viejo de Santa Fe, Inc. is entering 2008 doing business under a new name: SunCor New Mexico, Inc.

The name change reflects a growing commitment that company leadership is making to doing business throughout New Mexico.

“When we started the company, our vision was to create a master planned community in Santa Fe County and not expand beyond our project at Rancho Viejo,” said Isaac Pino, president of SunCor New Mexico, Inc.

“During the past several years, as we have been successful in the Santa Fe area, we have been invited to explore other opportunities throughout New Mexico,” Pino added. “Today, we are also looking into projects in Albuquerque, Las Cruces and other areas of the state. As such, we felt that it made sense to proceed with business using a name that would be identified with the entire state and not only Santa Fe.”

SunCor New Mexico, Inc. is overseeing development of the 11,000 acre Rancho Viejo master planned community that is located two miles southwest of Santa Fe.

Presently, the company is building new homes in its third village, La Entrada at Rancho Viejo. This village is projected for up to 1,200 homes, 60 acres of retail and commercial development, a new public elementary school and the first apartment units in Rancho Viejo. Build-out is expected to take eight to ten years.

The first village at Rancho Viejo, with more than 550 homes, was built out in 2002. The second village, which has another 761 residential units, is only months from build out. Construction of the first homes at Rancho Viejo began in 1997.

SunCor New Mexico, Inc. is a business unit of Tempe, Arizona-based SunCor Development Company (SunCor).

SunCor is a wholly-owned subsidiary of Pinnacle West Capital Corporation (NYSE: PNW), a publicly traded company. Pinnacle West Capital Corporation is also the holding company for Arizona Public Service, the largest electric utility company in Arizona.M

Since it was founded in 1986, SunCor has:
- created 18 master planned communities in four states—New Mexico, Arizona, Utah and Idaho—that 13,000 families now call home;
- built 26 commercial and retail centers where more than 500 entrepreneurs are doing business and fueling their local economies;
- provided world class amenities to 300,000 golfers at eight golf courses every year; and
- leased or sold more than 25 million square feet of retail space.