FAIRFAX, VIRGINIA--(Marketwire - July 30, 2010) - Brookfield Homes Corporation (NYSE:BHS) ("Brookfield Homes") today announced that it intends to commence discussions with Brookfield Properties Corporation (TSX:BPO)(NYSE:BPO) ("Brookfield Properties") regarding a possible merger that would result in the combination of Brookfield Homes with Carma Developers ("Carma"), the North American residential land and housing division of Brookfield Properties with operations principally in Alberta, Colorado and Texas.