March 28th, 2007

PLANNED COMMUNITY DEVELOPERS TO BUILD SECOND CLASS A OFFICE BUILDING IN SUGAR LAND TOWN SQUARE

SUGAR LAND, TEXAS (March 28, 2007) – Planned Community Developers (PCD) is pleased to announce its plans to construct a second Class A office building in Sugar Land Town Square, located at U.S. Highway 59 and State Highway 6.  Construction on the eight-story office building is scheduled to begin this summer, with an estimated completion date of fall 2008.

Located at 2150 Town Square Place, the new building will be similar in design to Town Square’s existing office building, The Plaza, and will offer 185,000 square feet of Class A office space and 15,000 square feet of ground level retail space. It will also feature the same wide range of superior amenities including state-of-the-art telecommunications, 24-hour roving security, monitored call boxes, covered structured parking and easy access to major highways and a corporate airport.

“Town Square continues to thrive as Sugar Land’s central business district,” said Don Janssen, Jr., senior vice-president of PCD.  “We have high expectations for our new office building, given the popularity and demand of our first office building, which fully leased within 12 months.”

Among the property’s strongest attributes is its close proximity to the area’s most popular restaurants and retailers, a full-service Marriott Hotel with a 55,000 square foot conference center and Sugar Land’s City Hall. Town Square also features CityPlaza, a 167-unit residential midrise and a beautiful 1.4-acre plaza that features a fountain and benches beneath live oak trees.

PCD continues to oversee the phased development of Town Square. Ultimately, the development will include 450,000 square feet of Class A office space and 300,000 square feet of retail space and is projected to be completed by 2008.