Design Plan to Create One of South Florida's Most Progressive, Environmentally-Friendly Centers Approved by City Commission.

First Retail Tenants Are Announced

FORT LAUDERDALE, Fla. -- Brown Hill Development, along with its retail partner Stanbery Development, today announced it has received final approval for the design and development of The Promenade at Lyons, a 23-acre mixed-use project that will bring upscale shopping, living and working venues to the city of Coconut Creek and create one of South Florida's most progressive, environmentally-friendly centers. The Promenade at Lyons will feature more than 50 retail tenants, including Ann Taylor Loft, Banana Republic, Brighton, Chico's, Coldwater Creek, Jos A Banks, Limited Too, New York & Company, SOMA, Starbucks, Talbots, and White House Black Market.

The Promenade at Lyons is the first project to be completed within the city's proposed downtown and is located on a portion of the largest undeveloped land parcel in Broward County at the corner of Lyons Road and Wiles Road. It will include approximately 250,000-square-feet of shopping and restaurants, up to 125,000 square-feet of office space, and up to 450 residential units. Construction will begin with the open-air shopping, restaurant and office components in summer 2007.

The developers are seeking LEED certification for The Promenade at Lyons, which requires the project meet strict guidelines developed by the U.S. Green Building Council to promote and ensure environmentally-responsible design. The Promenade at Lyons will be one of the first major developments to be awarded LEED certification in the Southeast U.S. Additionally, the newly designated downtown in Coconut Creek may become one of the first planned and zoned contiguous areas in the country to be named a 'LEED district.'"

Jeffrey M. Brown, partner of Brown Hill Development, commented: "The city of Coconut Creek and Brown Hill Development have shared the same vision and goal for this project from the start. That is to provide this growing community with an urban village where people can live, work, shop and play in an atmosphere that integrates and celebrates the environment. The Promenade will be a vibrant urban center that offers South Floridians a new choice in proximity, calibre, and diversity of retail, residential and office spaces."

Lou Sarbone, Mayor of Coconut Creek, states, "In December 2004, we established the vision for a mixed-use, downtown development that would embody the distinctiveness of the city, and promote an environmentally and pedestrian-friendly destination. The approved design plan for what will be a focal point of the city's new downtown, developed by Brown Hill and its partners, reflects that vision."

The Promenade project will be designed by Dorsky Hodgson Parrish Yue, a national architecture, planning, interiors and environmental graphics firm. Victor Yue, managing partner of the Florida office of Dorsky Hodgson Parrish Yue, commented, "Our design solution is an application of New Urbanism principles to a suburban setting where the buildings are designed to function for the convenience of retailers as well as the privacy and security of its residents. This vibrant urban environment will feature a variety of outdoor spaces and create a memorable imagery for the newly-created downtown district." Office leasing is being conducted by CB Richard Ellis and the implementation of green building design strategies is being provided by GreenTime, LLC, a LEED consulting firm.

The construction of the project's retail and office components will be complete in summer 2008 with commercial occupancy and opening in fall 2008.

About Brown Hill Development

Brown Hill Development is a creative and entrepreneurial real estate development firm with offices in New York and Philadelphia. The firm develops buildings that enhance their environments and inspire their inhabitants. For both residential and commercial developments, Brown Hill differentiates its products by creating buildings of independent spirit that function as well as they are designed, appointed and built. Recent projects include the Porter House Condominiums, located in Manhattan's meat-packing district and Old City 108 Condominiums, in Philadelphia's historic Old City district.

About Stanbery Development

Stanbery Development is a real estate development company whose principals possess over 50 years of collective commercial development experience. Stanbery is driven to provide value to its partner investors and tenants through excellent development opportunities. Stanbery creates high quality niche projects designed upon the Lifestyle Center concept.

Editors Note: For more information on tenants, architectural renderings, graphics or any additional information, please contact Tricia Boone at [e-mail] or 770-887-3971.