ADVISORY/Urban Edge and Pine Street Inn Celebrate Milestone in Affordable Housing Effort on June 28Th.

Business Editors

ADVISORY...for Saturday (June 28)

--(BUSINESS WIRE)

Urban Edge

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What:       "Transformation Celebration: Egleston on the Move," is a
            multi-faceted event to mark the groundbreaking of the
            $17.5 million dollar mixed-use development project,
            Egleston Crossing, which promises 64 units of
            affordable housing and 8,000 sq. ft of retail space.
            This 5-yearproject is the result of a unique
            collaboration between Urban Edge and Pine Street Inn.
            Urban Edge will also celebrate the completion of four
            units for homeownership at 21-27 Westminster Avenue.
            Both projects are located in Roxbury.

Who:        Join
            Mayor Thomas Menino, City of Boston
            Senator Dianne Wilkerson, Commonwealth of Massachusetts
            Jane Wallis-Gumble, Department of Housing and Community
             Development
            Charlotte Golar-Richie, Department of Neighborhood
             Development
            Kevin Keogh, The Department of Housing and Community
             Development
            Joe Flatley, Massachusetts Housing Investment
             Corporation
            Michael Hatfield, Fleet
            Public officials, community leaders, project lenders,
             investors and supporters

When:       Saturday, June 28th

            11:00 AM: Photo Opportunity at 21-27 Westminster Ave

            11:15 AM: Ceremony on Washington Street begins with
            remarks from Mayor Thomas Menino

            12:00 PM:Community Cookout: Community residents, project
            funders, lenders, partners and community leaders will come
            together and celebrate the great progress made in Egleston
            Square. This event will feature local musicians, young
            athletes, dancers and other family entertainment.

Where:      The Municipal Parking lot on the corner of Washington
            Street and Westminster Avenue in Egleston Square.

Details     Egleston Crossing is a mixed-use brownfield redevelopment
            project located in the heart of Egleston Square. It is the
            next phase of a comprehensive revitalization strategy led
            by Urban Edge in the Egleston/Jackson neighborhoods of
            Roxbury and Jamaica Plain. Two mostly vacant properties
            will be razed beginning this June to make way for two new
            buildings that will include 8,300 square feet of ground
            floor commercial space plus 64 new units of affordable
            housing, 15 of which will be dedicated to formerly
            homeless individuals and families through a unique
            collaboration with Pine Street Inn.

            Project Funders

            City of Boston Department of Neighborhood Development -
             HOME Funds
            City of Boston DND - McKinney Funds
            City of Boston Neighborhood Housing Trust
            Mass. Department of Housing and Community Development
            Mass. Affordable Housing Trust
            Massachusetts Technology Collaborative
            MassDevelopment
            Fleet Bank of Massachusetts
            Massachusetts Housing Partnership Fund
            Massachusetts Housing Investment Corporation
            Massachusetts Housing Equity Fund

            Community Economic Development Assistance Corporation
            Local Initiative Support Corporation
            Property and Casualty Initiative
            Energy Star

To Attend:  For media inquiries and directions, please contact Unyi
            Agba, Communications Coordinator at 617-989-9306 or
            [e-mail].

Urban Edge is a non-profit, SOMWBA-certified community development
organization that was founded in 1974 by Jamaica Plain community
leaders. Throughout its 28-year history, Urban Edge has focused on the
development and preservation of affordable housing as well as property
management. Today, with over $100 million in real estate assets, Urban
Edge is one of the strongest and most experienced CDCs in Boston, with
a solid track record of success. Currently Urban Edge manages 1065
apartments located in 17 developments, and 64,000 square feet of space
in six separate buildings housing commercial, retail, and service
activities. Urban Edge is governed by a board of directors who are
residents of the neighborhoods it serves; nearly half of the board
members reside in developments sponsored or managed by Urban Edge.
Urban Edge's work has contributed to the creation and preservation of
affordable housing in the Egleston-Jackson area, which now has fifty
percent more affordable housing than the Boston citywide average.