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PRESS RELEASE! Contact: Suzanne Corcoran,
703/549.5115

ULI Announces King’s Lynne Winner 2007 Awards for Excellence: The Americas Competition

Project Pioneered Mixed-Income Housing

WASHINGTON (May 11, 2007) The Urban Land Institute in Washington, DC announced King’s Lynne in Lynn, MA has been named winner of the Heritage Award for the Urban Land Institute's (ULI) Awards for Excellence: The Americas competition, widely recognized as the land use industry’s most prestigious recognition program.

The Heritage Award is given to projects that have established new concepts or standards that have been emulated elsewhere; are of national or international renown and have been completed for over 25 years. It is the only ULI award category where the jury needs to be unanimous in their decision, and only seven Heritage Awards have been given since 1979. Past recipients include Rockefeller Center, Disneyland, and Sea Pines Plantation in Hilton Head, SC.

“Mixed-income is a buzzword today, but King’s Lynne was the first in the country,” said King’s Lynne Resident Council President Eleanor Wessell. “After 30 years of successful operation, it is the model for mixed-income housing nationwide, and still going strong.” King’s Lynne is jointly owned by the King’s Lynne Resident Council and Boston-based developers Corcoran Mullins Jennison and also managed by CMJ.

King’s Lynne is the former America Park housing project. In 1970 America Park was one of the worst housing projects in Massachusetts. Of the original 408 units, 25% were boarded up and condemned. The tenants of America Park organized and refused to accept housing authority renovations funds and instead, used grant money to hire a consultant who conceptualized a privately owned and managed mixed-income community. Armed with the consultant’s findings, the tenants generated private and public support for redevelopment.

The new community was renamed King’s Lynne in 1974. Kings Lynne is a project of firsts. It is the nation’s first public housing project to be converted from public to private housing; the first 50/50 partnership arrangement between public housing residents and a private developer; and the first new housing redevelopment to incorporate mixed-income housing. Thirty years after completion, King’s Lynne has the same ownership, is fully leased, is in top condition, and is a financial success. The practices at King’s Lynne still serve as the blueprint for redeveloping troubled public housing and planted the seeds for HOPE VI, transforming public housing nationwide.

“To say that King’s Lynne was a trend setter is a bit of an understatement,” said J. Michael Pitchford, a member of the ULI Awards for Excellence jury. “In fact all the good things we know and practice today in the transformation of public and affordable housing into thriving mixed-income communities has its roots in the experiences of King’s Lynne. King’s Lynne is as inviting and well maintained as it was upon completion, the perfect proof of concept.”

The competition is part of the Institute’s Awards for Excellence program, established in 1979, which is based on ULI’s guiding principle that the achievement of excellence in land use practice should be recognized and rewarded. ULI’s Awards for Excellence recognize the full development process of a project, not just its architecture or design. (http://www.uli.org/)

The Americas finalists were selected by a jury of renowned land use development and design experts: Jury chair Lee T. Hanley, chairman/chief executive officer, Vestar Development Co., Phoenix; Ronald A. Altoon, partner, Altoon + Porter Architects, Los Angeles; Bryce Blair, chairman/chief executive officer, AvalonBay Communities, Boston; Timur F. Galen, managing director, Goldman, Sachs & Co., New York; Richard M. Gollis, principal, The Concord Group, Newport Beach; Veronica W. Hackett, managing partner, The Clarett Group, New York; William H. Kreager, principal, Mithun Architects + Designers + Planners, Seattle; Isaac H. Manning, president, Trinity Works, Fort Worth; J. Michael Pitchford, president and CEO, Community Preservation and Development Corporation; Washington, D.C.; Frank Ricks, principal, Looney Ricks Kiss Architects, Memphis; Marilee A. Utter, president, Citiventure Associates LLC, Denver; and Robert M. Weekley, principal, Lowe Enterprises, Inc., Los Angeles.

Since 1971 Corcoran Mullins Jennison Inc. and Corcoran Jennison Companies have successfully developed over $2 billion worth of property, including, residential communities, schools and institutions, health facilities, condominiums, resorts, conference centers and golf courses. (www.corcoranjennison.com)

The 2007 winners were selected from 170 entries; King’s Lynne is the only finalist and winner from New England.

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PRESS RELEASE! Contact: Suzanne Corcoran,
703/549.5115
Robert J. Newman Appointed General Manager of Ocean Edge Resort & Club on Cape Cod
Newman to Take Service Standards to an All-Time High and Spearhead $25 Million Renovation, Including a Nicklaus Design Golf Cours
BREWSTER, MA: Robert J. Newman has been named general manager for Ocean Edge Resort & Club on Cape Cod in Brewster, MA. Newman is an award-winning member of the Boston travel industry, who brings over 20 years of hospitality management experience and has set a goal to raise the bar on the guest experience at Ocean Edge. He will oversee the 429-acre resort’s operations and its 500 employees.

Newman will be responsible for operating Ocean Edge Resort & Club through the multi-million dollar project that includes a $6 million total redesign of the golf course by Nicklaus Design. The course is slated to be completed in its entirety by October, with the front nine holes debuting Memorial Day weekend. Other elements of the renovation include an expansion of the Linx Clubhouse, a members-only lounge and revamped locker rooms.

In addition, guestrooms and vacation villas have been substantially upgraded featuring fresh and contemporary Cape Cod-style furnishings, floorings and finishes. The bathrooms and kitchens at the vacation villas have been enhanced with sand-colored Corian countertops, and living rooms now feature flat screen televisions. For the second phase of the overhaul, plans are underway for a new fitness and spa facility and additional meeting and function space slated to begin construction next year.

“The renovations to the Nicklaus Design course and room upgrades have revitalized Ocean Edge,” Newman said. “I’ll be focusing on growing and strengthening Ocean Edge’s hospitality culture for members and guests, and strive to be recognized as the leading business and leisure destination on Cape Cod.”

Before joining the Ocean Edge team, Newman served as general manager at Doubletree Hotel Downtown Boston and the Doubletree Boston Bayside, both which are managed by Hilton Hotels corporation and part of Corcoran Jennison Hospitality’s portfolio, the owners of Ocean Edge.

While at these properties Newman received accolades including the Hilton Hotels “Go for the Green” Award, which recognizes exceptional performance in the areas of operational effectiveness, revenue maximization, brand management, loyalty and growth. He also received recognition acknowledging best overall cost containment and an outstanding team member opinion survey.

Making his way back onto the Cape, Newman has previously served as general manager of three Cape Cod properties for the Hamilton Group. He has also held managerial positions at the five-star Ritz Hotel in London and the five-star Westbury Hotel in Dublin, Ireland.

As a member of the Massachusetts Lodging Association, Newman strives to enhance tourism to the region through his numerous community efforts. He was recently honored by the Action for Boston Community Development, Inc., and has received various accolades including Boston Main Streets Outstanding Business Award and the Chinatown National Night Out Community Service Award for improving neighborhood life.

A native of Kildare, Ireland, Newman is a graduate of Trinity College in Dublin where he earned a bachelor’s degree in business management. He is also a graduate of Dublin College of Hotel and Catering Management and holds a higher diploma (honors) in hotel catering and management. Newman currently resides in Plymouth, MA with his wife and two children.

For tee times or additional information, please call (508) 896-9000. For resort reservations, please visit www.oceanedge.com or call (800) 343-6074.

About Ocean Edge Resort & Club on Cape Cod
Open year-round, Ocean Edge Resort & Club occupies 429 pine-scented acres on a majestic bluff overlooking Cape Cod Bay in picturesque Brewster, MA on historic Route 6A, Old King’s Highway The centerpiece of the resort is the 1912 Victorian-style Nickerson Mansion, which is listed on the National Register of Historic Places and features 90 of the property’s 334 guest accommodations. The hotel guestrooms feature terry cloth bathrobes; a hairdryer; an iron and an ironing board; a workstation with task lighting, a cordless phone with voicemail, and Wi-Fi internet access; an overstuffed easy chair paired with a sofa and reading lamp and tables; a remote control color television; and maid services. The remaining 244 one- two- and three-bedroom villas also offer fully equipped kitchens, dining areas and living rooms with pull out double sleeper sofas. Boasting a 700-foot private beach, four outdoor and two indoor pools, two toddler pools, six hot tubs, bicycle rentals, a fitness center, golf course and a USPTA-certified tennis complex, this historic New England retreat provides many activities, such as popular dive-in movies; tidal walks; croquet, golf, tennis, spinning and swimming lessons; yoga and Pilates on the beach, and spa treatments. Nicklaus Design is nearing completion on the new Ocean Edge Golf Course. The back nine will reopen Memorial Day 2007 and the remaining nine holes will reopen fall 2007. Pick up the 26-mile Cape Cod Rail Trail in Ocean Edge, with trails leading to the Cape Cod National Seashore and Provincetown. There are four restaurants: Zagat-rated Ocean Grille where Chef Michael Gregory prepares regional American cuisine with ingredients from the resort’s own herb garden; English-style Bayzo’s Pub with billiards; Linx Tavern for indoor/outdoor dining at the golf clubhouse, Reef Café for indoor/outdoor casual dining and three poolside Snack Cabanas. Ocean EdgeVenture organizes day and night activities, including croquet matches and kite making, for children ages 4-12 from its own clubhouse through Sept. 1, while teens enjoy junior tennis and golf clinics. Complimentary shuttle service ferries guests throughout the resort, all of which is Wi-Fi accessible.

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PRESS RELEASE! Contact: Caroline Kerrigan, Quinn & Co.,212-868-1900 x253
Michelle Abril, Quinn & Co., 212-868-1900 x23
$6 Million Nicklaus Design Golf Course Nears Completion at Ocean Edge Resort & Club on Cape Cod
Now Open

Multi-Million Dollar Project Includes Course Privatization, Linx Clubhouse Expansion and More
Brewster, MA:Ocean Edge Resort & Club on Cape Cod is in the homestretch of a $6 million Nicklaus Design renovation to its 18-hole golf course. The back nine holes will be unveiled Memorial Day weekend, with the course in its entirety slated to debut October 2007.

The total redesign of Ocean Edge has remodeled and reshaped all greens and holes, with the most significant changes being increased length, better playability and more challenges on the course. The greens are being customized to United States Golf Association specifications. To accommodate member and guest play during the renovation, the par-72 golf course is being carefully redesigned in two phases.

“We are becoming a more challenging course for our members, but Ocean Edge will still be fun and enjoyable for resort guests,” said Michael Medeiros, head golf professional at Ocean Edge Resort & Club on Cape Cod. “The new golf course is strategically accurate for all levels of play.”

Gearing up to unveil its newly designed golf course, Ocean Edge will also transition from semi-private to a private course, exclusively available to club members and hotel guests. The Nicklaus Design course will be one of Cape Cod’s few private fairways. Members and their guests will enjoy access to all recreational and social privileges at the Cape Cod resort. Golf and sport membership options accommodate the avid golfer and sports aficionado.

“We are already seeing the benefits of being Cape Cod’s only Nicklaus Design course,” said Ocean Edge General Manager Robert J. Newman, “In less than a year, over two thirds of golf memberships have been sold. Ocean Edge Club members recognize the value of the Nicklaus name, and understand this value will only grow over time.”

The multi-million dollar project also includes revamping the Linx Clubhouse, which will feature a members-only lounge, expanded locker room facilities and additional function space for member events.

For those duffers not quite at Tiger’s level, Ocean Edge Resort & Club on Cape Cod offers golf clinics and lessons available through the Linx Golf Shop with the resort’s own team of PGA professionals, including junior clinics for children ages 6-17.

The Nicklaus Design Group recognizes Ocean Edge Resort & Club on Cape Cod’s unique setting as an asset to the reconstruction.

“Ocean Edge is blessed with a great natural landscape: mature trees, rolling topography and the right elevation changes to create a parkland setting,” said Chris Rule, design associate of the Nicklaus Design Group. “In the redesign, we’ve maximized those features while modernizing the course. New changes include the pure bent grass, increased length overall by about 300 yards and more strategic value with bunkering and sand traps.”

In addition to the $6 million golf course redesign, guestrooms and vacation villas at Ocean Edge Resort & Club on Cape Cod have been substantially upgraded featuring fresh and contemporary Cape Cod-style furnishings, floorings and finishes. The bathrooms and kitchens at the vacation villas have been enhanced with sand-colored Corian countertops, and living rooms now feature flat screen televisions. For the second phase of the overhaul, plans are underway for a new fitness and spa facility and additional meeting and function space slated to begin construction next year.

For tee times or additional information, please call (508) 896-9000. For resort reservations, please visit www.oceanedge.com or call (800) 343-6074.

About Ocean Edge Resort & Club on Cape Cod
Open year-round, Ocean Edge Resort & Club occupies 429 pine-scented acres on a majestic bluff overlooking Cape Cod Bay in picturesque Brewster, MA on historic Route 6A, Old King’s Highway The centerpiece of the resort is the 1912 Victorian-style Nickerson Mansion, which is listed on the National Register of Historic Places and features 90 of the property’s 334 guest accommodations. The hotel guestrooms feature terry cloth bathrobes; a hairdryer; an iron and an ironing board; a workstation with task lighting, a cordless phone with voicemail, and Wi-Fi internet access; an overstuffed easy chair paired with a sofa and reading lamp and tables; a remote control color television; and maid services. The remaining 244 one- two- and three-bedroom villas also offer fully equipped kitchens, dining areas and living rooms with pull out double sleeper sofas. Boasting a 700-foot private beach, four outdoor and two indoor pools, two toddler pools, six hot tubs, bicycle rentals, a fitness center, golf course and a USPTA-certified tennis complex, this historic New England retreat provides many activities, such as popular dive-in movies; tidal walks; croquet, golf, tennis, spinning and swimming lessons; yoga and Pilates on the beach, and spa treatments. Nicklaus Design is nearing completion on the new Ocean Edge Golf Course. The back nine will reopen Memorial Day 2007 and the remaining nine holes will reopen fall 2007. Pick up the 26-mile Cape Cod Rail Trail in Ocean Edge, with trails leading to the Cape Cod National Seashore and Provincetown. There are four restaurants: Zagat-rated Ocean Grille where Chef Michael Gregory prepares regional American cuisine with ingredients from the resort’s own herb garden; English-style Bayzo’s Pub with billiards; Linx Tavern for indoor/outdoor dining at the golf clubhouse, Reef Café for indoor/outdoor casual dining and three poolside Snack Cabanas. Ocean EdgeVenture organizes day and night activities, including croquet matches and kite making, for children ages 4-12 from its own clubhouse through Sept. 1, while teens enjoy junior tennis and golf clinics. Complimentary shuttle service ferries guests throughout the resort, all of which is Wi-Fi accessible.

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PRESS RELEASE! Contact: Suzanne Corcoran,
703/549.5115
CliffWalk Apartments in Quincy, Close to Boston
Now Open
Quincy, MA: CliffWalk, the South Shore’s newest apartment community, has opened its sales office and apartments are now available for rent.

CliffWalk is conveniently located off Route 128, very close to I-95 and Route 3. CliffWalk features 130 luxury apartments, a mixture of spacious one bedroom, one bedroom with den, and two bedroom units, all with in-unit washer/dryers. Individual apartment features vary from unit to unit, with many including fireplaces, nine foot ceilings and balconies. Amenities include a fitness room with the most up-to-date fitness equipment, and a social room with large screen television and billiards. Outdoor amenities include a swimming pool with hot tub and waterfall, sundeck, and barbeque area. Garage parking is available. Rents range from $1500 to $ 2400 per month.

“We definitely have the edge in the market being the South Shore’s newest luxury building, but what’s really terrific about CliffWalk is the location,” said developer Michael Corcoran of CJIS. “Not only are we at the crossroads of Boston’s major highways south of the city, but a few doors down is Barnes & Nobles and Starbucks, and less than a mile away is the South Shore Plaza Shopping Mall and AMC movie cinemas. We’re near everything.” Also closely, Blue Hills, where CliffWalk residents can enjoy outdoor activities such as downhill and cross country skiing, hiking, and biking year-round.

Total development cost for CliffWalk was $24 million. Construction financing was provided by Citizen’s Bank. Russell, Scott, Steedle, Capone of Cambridge is the architect.

CliffWalk is being managed by Corcoran Jennison Management Company. CJ Management and CMJ Management manages over 24,000 units and has earned a national reputation for building and managing quality housing. CJ has been named “Property Management Company of the Year” by the National Association of Homebuilders.

For more information, please visit www.cliffwalkapts.com.

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PRESS RELEASE! Contact: Suzanne Corcoran,
703/549.5115

Hampton Inn & Suites at Boston Crosstown Center
Boston’s Only African American Owned Hotel
Now Open


Boston, MA: Hampton Inn & Suites at Boston Crosstown Center is now open. The hotel is ideally located across from Boston Medical Center, the most direct and accessible hotel to Logan International Airport, the new Boston Convention and Exhibition Center, Hynes Convention Center and Longwood Medical Area.

The 175-room Hampton Inn & Suites is being developed and is owned by a partnership that includes Boston developers Kirk Sykes, Tom Welch, Gene Sisco and Corcoran Jennison Company. A majority of the hotel’s owners are African American, making this Boston’s only African American owned hotel.

The upscale and moderately priced Hampton Inn & Suites hotel is one of the fastest growing hotel brands in the country, and is Boston’s only Hampton. The hotel is a sleek urban design that includes a lobby café featuring the legendary Hampton complimentary breakfast buffet daily. Fifty-nine studio suites have microwave ovens, in-room refrigerators, wet bars, high-speed internet, in-room movies on command, and free local calling. Amenities include a rooftop pool and fitness center. Complimentary shuttle service is provided to Logan International Airport and the Longwood Medical Area.

The Hampton Inn & Suites at Boston Crosstown Center is located in a Boston Empowerment Zone. The Hampton project at Crosstown so far has created job placement for 180 Empowerment Zone residents, including sixteen union apprenticeships.

The hotel is being managed by Corcoran Jennison Hospitality, LLC. Construction was provided by CorJen Construction, LLC. Architectural design was provided by ADD, Inc., in association with the Primary Group.

The opening of the hotel and a 650-space parking garage, which opened March 1, 2004, will complete Phase I of the Crosstown Center project.

Phase II of the Crosstown project will consist of a 282,000 square foot office building, 33,000 square feet of retail, and an additional parking garage for 600 cars. Construction will begin in December ’04.

Visit www.bostonhamptoninn.com.

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PRESS RELEASE! Contact: Suzanne Corcoran,
703/549.5115
Corcoran Jennison’s Elizabeth More Named
“Outstanding National Affordable Housing Professional”
by New England Affordable Housing Management Association


Boston, MA: Elizabeth More of Corcoran Jennison Management Company has been named “Outstanding National Affordable Housing Professional” by the New England Affordable Housing Management Association (NEAHMA).

Ms. More is Director of Administration at Corcoran Jennison Management Company in the Boston, MA office. She is responsible for training and education of CJ staff, and supervises rent relations for the company’s subsidized properties. Ms. More visits sites regularly to track compliance and assure standards are being adhered to for 22,000 units. Ms. More also handles all human resources concerns, fair housing related issues, and all regulatory Agency responses. Ms. More is an active member of NEAHMA serving on the Board of Directors.

"Liz is very deserving of this award, and we’re thrilled NEAHMA has recognized her,” said Scott Ployer, Director of Operations at Corcoran Jennison Management Company. “She’s energetic, she’s concerned about employees and residents, and she’s a stickler for details. We are so fortunate to have her at CJ.”

Corcoran Jennison Management Company was formed in 1971, and manages over 24,000 properties. CJ Management has earned a national reputation for building and managing quality market rate mixed-income and affordable housing, and has been named “Property Management Company of the Year” by the National Association of Homebuilders.

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PRESS RELEASE! Contact: Suzanne Corcoran,
703/549.5115

Fuller Village Receives Gold Award
from NAHB's Senior Housing Design Council




Boston, MA:: Fuller Village in Milton, Massachusetts has received a Gold Award in a competition sponsored by the Senior Housing Design Council of the National Association of Homebuilders.

Fuller Village is a $31 million, 156-unit mixed-income, enhanced services senior housing community, where 25% of the homes are affordable. Six of the affordable units were made available to homeless or soon-to-be homeless individuals.

The home and carriage house on the 32-acre Fuller property was originally built by Dr. George Kennedy in 1862 and was acquired in 1946 by the Caroline Weld Fuller Trustees. The estate operated as a nursing home until 1998 when the Milton Fuller Housing Corporation purchased the property.

Corcoran Jennison was responsible for permitting, development, construction and financing Fuller Village, and provided marketing strategy for the project. The architect was DiMella Shaffer Associates of Boston, MA. Milton Residences for the Elderly (MRE) is the non-profit owner and operates the community.

"The overall goal at Fuller Village was to maintain the natural beauty of the original site, and to maintain the original Kennedy house as much as possible," said Marty Jones, President of Corcoran Jennison. "By not carving the house into individual units and instead, converting this building to service the community, all residents and guests are able to enjoy its unique history." The original Kennedy house is now the Gordon House, and features the dining facilities, community rooms, fitness center, store, management and social service offices.

Fuller Village offers a combination of life leases and rental housing. The life lease is when the resident purchases a lease that is re-sold when the resident leaves. Residents are guaranteed their original purchase price back. There are 112 of these homes and all were sold prior to construction completion.

Rental housing consists of 44 apartments in one of the main buildings. Residents may purchase a la carte services ranging from housekeeping, personal care, laundry, daily meals and may change the amount or type of service at any time.

CorJen Construction, LLC was the builder.



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PRESS RELEASE! Contact: Suzanne Corcoran,
703/549.5115

Monterey Place Receives Prestigious Award
from Institute of American Architects




New Haven, CT:Monterey Place, located in the Dixwell neighborhood of New Haven is the recipient of the American Institute of Architects (AIA) Housing Professional Interest Area (PIA) Award. The AIA PIA Awards Program was established "to recognize the best in housing design and to promote the importance of good housing as a necessity of life, a sanctuary for the human spirit, and a valuable natural resource".

The 35-acre Monterey Place is the former Elm Haven public housing project. In 1993 the Department of Housing and Urban Development awarded the City of New Haven a $45 million HOPE VI grant to transform the existing 848-unit Elm Haven public housing project to a new mixed-income community.

The new Monterey Place and The Homes at Monterey is a total of 362 units, a combination of apartment and for-sale housing in townhomes, duplex and single family homes. One hundred forty units are reserved for senior residents in two buildings; a new four-story elevator building and an existing renovated tower building. Family housing includes 200 rental units and 23 for-sale homes.

Using New Urbanist principles, a street grid was reinstated on the site, and a new neighborhood was created that closely resembles other neighborhoods in New Haven. Standard building materials like shutters, brick and different paint colors were used separately and in combination, varying from home to home, providing architectural distinction that typically evolves on a city street after a number of years. Townhomes have front and back doors and outside patios, which connect to a common area where children can play and parents can watch from the kitchen. Great care was taken to recreate a traditional streetscape. Streets include grass borders on sidewalks, lovely street trees, and historically correct street lamp posts.

The for-sale single family homes are priced affordably, between $75,000 to $110,000. These have become home to a mix of family types, including former Elm Haven residents, city workers, and Yale employees. An additional 30 for-sale homes are planned on the site.

Beacon/Corcoran Jennison Partners, a partnership of two development companies, The Beacon Companies and Corcoran Jennison Companies, with long track records in mixed-income housing, are the developers of the project. Fletcher, Thompson, Inc. Architects of Stratford, CT are the architects of record. Russell Scott, Steedle & Capone Architects of Cambridge, MA provided design/development services. Blades & Govern Land Group of Stratford, CT provided site planning and landscape design services.


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PRESS RELEASE! Contact: Suzanne Corcoran,
703/549.5115

Corcoran Jennison Management Company
Adds NHP Foundation Portfolio

CJ Management Increases Residential Portfolio By 7,500 Units



Boston, MA:Corcoran Jennison Management Company has added an additional 7,500 units to its residential management portfolio. This brings the number of CJ managed multifamily properties to over 22,000 units in 20 states.

Most of the new 7,500 units are owned by The NHP Foundation of Washington, DC. Founded in 1989, NHPF is a national non-profit organization that acquires and preserves affordable housing and provides families with resident services. In 1994, NHPF acquired its first four properties and currently has 43 properties in 14 states.

"It's a great marriage between our two organizations because our philosophies on housing really mirror one another," said Gary Jennison, Chairman of the Corcoran Jennison Management Companies. "Corcoran Jennison and The NHP Foundation are owners and property managers who pay very close attention to affordability and quality of life issues for residents."

CJ Management's portfolio before NHPF was predominately market rate, and the firm has also earned a national reputation for building and managing quality mixed-income and affordable housing. CJ was awarded the prestigious "Property Management Company of the Year" by the National Association of Homebuilders.

CJ Management has throughout its 30-year history selectively built its third party management contract business with owners whose needs are greater than day-to-day management or custodianship. According to Gary Jennison, "We look at all our third party accounts as strategic relationships where the entire talents of Corcoran Jennison companies can add value to an owner's property portfolio."

Prior to the new management relationship with CJ, NHPF had to contend with different field and reporting systems from nine separate management companies. Although the entire NHPF portfolio is affordable housing, it is mostly conventionally built and financed properties. The NHPF portfolio has ongoing marketing requirements and needed one management team with a sophisticated marketing operation that understood how to market and manage affordable housing. With CJ Management managing the NHPF portfolio, NHPF can now focus on its core business of acquiring affordable housing.

"Currently NHPF is in an aggressive acquisition mode and CJ hopes to help on that end," said Dan Murray, President of CJ Management Company. "CJ Management's affiliate companies in construction and development are available to help analyze properties and to determine what improvements are necessary and what they will cost."

Other new CJ Management contracts include the 311-unit CambridgePark Place, in Cambridge, MA, and the 105-unit Norwood Crossing in Norwood, MA, both luxury apartment communities.

CJ Management is headquartered in Boston, MA and has offices in Stamford, CT; Greensboro, NC; Columbia, SC; Glen Burnie, MD; Charlotte, NC; Jacksonville, FL; Dallas, TX; and New Orleans, LA.

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PRESS RELEASE! Contact: Suzanne Corcoran,
703/549.5115

Meredith Baumann, BRA
617-918-4351

Mayor Menino, Senator Wilkerson, HUD & City Officials
Formally Break Ground at Crosstown Center

Ceremony Marks Momentous Milestone Creating Gateway to 21st Century Boston

Following the early October 2002 announcement that Crosstown Center, a mixed use, multi-phase project, had secured financing on its phase-one hotel and parking garage, today Mayor Thomas M. Menino joined together with other city, state, and federal partners for the formal groundbreaking ceremony for Crosstown Center. Along with State Senator Dianne Wilkerson, Department of Housing & Urban Development Regional Administrator Kevin Keough, and Boston Redevelopment Authority Director Mark Maloney, Mayor Menino congratulated community leaders and members of Crosstown Hotel Center, LLC development team for their perseverance and determination in making this project a reality.

"This groundbreaking represents the best of partnerships. Together with Kirk Sykes and the Corcoran Jennison team, today we celebrate years of hard work and collaboration to make Crosstown Center the 'gateway' to 21st Century Boston. This project will become a vibrant urban center for Roxbury, Newmarket and the South End," he said.

Crosstown Hotel Center, LLC, is being developed by a minority led partnership that includes Boston developers Kirk Sykes, Tom Welch, Gene Sisco and Corcoran Jennison Company.

A 24-member Crosstown Center Council comprising residents of the South End, Roxbury, Lower Roxbury, and New Market convened over the past 5 years to support and advise developers on this landmark project in a unique and invaluable way. They lent an invaluable perspective regarding common issues concerning employment, traffic, transit and general economic development topics.

Realizing the importance of this project and its prime 'gateway' location, Mayor Menino advocated for various city resources to be dedicated to this project. As a result, Boston Connects, Inc. has loaned $7 million and Boston Redevelopment Authority and the Department of Neighborhood Development, through grants, have loaned a total of $5 million. Including cash and land costs, the city has invested nearly $17 million to fund this project.

Phase I of Crosstown Center includes a 10-story, 175-room Hampton Inn & Suites boutique hotel, 22,000 square feet of restaurant and retail space and a 650-space parking garage. Construction will be complete by Spring 2004, in time to host delegates and guests for the Democratic National Convention. The project's second phase will include a 282,000 square foot office building, 33,000 square feet of retail, and additional 600-space parking.

Crosstown Center is located at the Massachusetts Avenue entry to the $14 billion Central Artery Project. This is one of the first new projects to capitalize on the access and economic development potential of America's largest highway project. Crosstown also marks the geographic gateway to Fenway institutions, including the Longwood Medical Area, the Museum of Fine Arts and Northeastern University, to name a few. Further, this project will be a significant catalyst for economic development for the area, creating160 construction jobs and 125 new permanent jobs for the first phase.

Crosstown's boutique Hilton Hampden Inn is the 37th African-American owned hotel in America out of its 80,000 properties. Designed by architects of Add Inc., in association with Primary Group and its consultants, the hotel features a signature glass corner tower to identify the building's "gateway" image. The sleek design incorporates various forms of smooth and striated metal panels punctuated by glass to create dynamic forms and a fresh contemporary feel. The structure is designed to be inviting to pedestrians, encouraging them to enter the active retail space and walk through a public park and central courtyard. The office design for Phase II continues with a contemporary approach and features an eight-story reflective glass curtain wall set against a smooth paneled building punctuated with glass openings.

A significant community piece of the Crosstown Center project includes the development of the first component of the Harbor Trail Park Extension that runs along the Crosstown site. A 3.5-mile pedestrian friendly bicycle park, the South Bay Harbor Trail begins at Ruggles Station, travels through lower Roxbury, the South End, South Boston, the Fort Point Channel and ends at Fan Pier. The City of Boston's Transportation Department, Save the Harbor/Save the Bay and the South Bay Harbor Trail Coalition are partners in this important and exciting project that will bring residents of Boston's neighborhoods to the water. Public art and fountains will recall the sites' former relationship to the Old Boston Harbor, which was located at the Crosstown site. The City and State have awarded a $2 million PWED (Public Works Economic Development program) grant to the Crosstown Center project, a portion of which will be used to construct the Trail. In addition, the Edward Ingersoll Browne Family Fund awarded $15,000 to SHSB to support the design of public art that will be built on the Crosstown site.

CorJen Construction, LLC will construct the project and Corcoran Jennison Hospitality will oversee the management and operations of the hotel.

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