Gigi Ramirez Tedesco poses in a new housing subdivision built by developer Paul Tedesco

DENVER — Real estate developer Paul Tedesco unveiled a new housing subdivision in his backyard today that he said will cater to the “high-end toddler market.”

Dubbed “The Estates of Tedescoville,” the .1 acre, 2-story project boasts luxurious swing sets, an extravagant slide, and a roomy lookout tower to spot interloping adults, Paul announced at a press conference today.

“When I bought the raw materials for this new development at Costco, at first I thought it was just a simple play set,” Paul told reporters.

“It turns out you need an engineering degree to build the thing. Took me months,” Paul said. “But it was totally worth it. Every kid in the neighborhood wants to move into my new development, and the value of my backyard has increased 500 percent.”

Paul said he’s “really getting into this real estate thing” and plans to pave over the rest of his backyard, continue expanding, and offer low-interest mortgages to children until the housing bubble bursts.

This entry was posted on Tuesday, August 26th, 2008 at 4:51 pm and is filed under Cole, Gigi, Lili, Paul. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.