FOR IMMEDIATE RELEASE: July 7, 2003	CONTACTS: Jan Dowker, S. Robert August & Co., Inc. (303) 220-8480 Tom Gleason, Forest City Stapleton, Inc. (303) 382-1800
BMW Realty Group Will Be Joined by Mayor Wellington Webb to Break Ground on Their Development, Syracuse Village at Stapleton
(Denver) - An exciting new development is taking shape in the East 29th Avenue Town Center at the coveted, master-planned urban community at Stapleton. Mayor Wellington E. Webb will join the principals of BMW Realty Group, LLC, comprised of former Denver Broncos and noted real estate developers Odell Barry and Claudie D. Minor, Jr., along with executive Thomas Williams, to mark the beginning of construction on Syracuse Village with a groundbreaking event on Monday, July 7, at 10 a.m. BMW Realty Group, the builder/developer of the project, is a minority owned company that is participating in the Associate Developer Program established by Stapleton’s master developer, Forest City. BMW has designed a 78-unit condominium and two-story townhome neighborhood, called Syracuse Village. Estimated prices will range from $135,000 for a two-bedroom/one-bath condominium to $167,500 for a three-bedroom/two bath townhome, and will be built with a hometown feel, along with tree-lined streets and spacious parks -- where almost every convenience is within a ten minute walk. “As a company, the mission of BMW Realty Group is to create lifestyle alternatives for our diverse communities. In real estate development, success is often the product of judgment, boldness and keen perception. BMW blends those qualities, together with an extensive reputation for project management, customer and community service, and site selection, through our widely experienced team of business executives,” said Odell Barry of BMW Realty Group, the builder/developer of Syracuse Village. “We’re excited to work with Forest City Stapleton, Inc. to develop these affordably priced condominiums and townhomes for Denver area families. Our five floor plans allow home buyers real lifestyle choices, ranging from two-bedroom, one-bath to three-bedroom, two-bath designs. Our homes are designed with state-of-the-art wiring, patios or balconies, detached garages, all at prices that are well within reach of many buyers, including first-time home buyers,” Barry continued. “A mix of housing ensures that Denver’s new neighborhoods at the former Stapleton airport welcome everyone,” said Mayor Wellington E. Webb.” “I’m pleased that the BMW Realty Group has undertaken this development. “Syracuse Village adds another exciting dimension to the East 29th Avenue Town Center, Stapleton’s first mixed-use neighborhood retail development,” said Tom Gleason, vice-president-public relations for Forest City Stapleton, Inc. “With its affordable pricing, attractive design, and convenient access to the shops, offices and residences overlooking a beautiful town green, Syracuse Village is one more example that Stapleton is setting a new standard for the ‘art of urban living’ in Denver.” Part of the draw at Stapleton is the ease of shopping and dining within minutes of homes. The nearby King Soopers that will open July 16th, and other retailers such as Noodles & Company, Chipotle, Coldstone Creamery, Asante Day Spa, First Bank, Commercial Federal, and Amore Fiori Flowers that are scheduled to open in the fall of this year are just some of the many amenities within steps of residents’ front doors in Syracuse Village. Syracuse Village offers five carefully designed floor plans for modern lifestyle ranch condominiums and two-story townhomes with two or three bedrooms, ranging in size from approximately 800 to 1,150 square feet. Each design blends space and styling that would be remarkable in any location, much less one with Stapleton’s access and acclaim. BMW Realty Group employs exceptional professional talent in architecture, site planning, development, construction, marketing, and sales, and brings a special focus to financing – both for its projects and customers – an added success factor for working in today’s real estate environment. The vision of BMW Realty Group is to broaden Denver’s homeownership opportunities to better meet the needs of its diverse population; families who want more home choices in the urban living environment; professionals who have not yet found the right mix of location, quality-of-life and attainable prices. Stapleton’s 4,700 acres or 7.5 square miles is one of the nation’s largest urban infill communities. Stapleton is planned for more than 12,000 homes, 3 million square feet of regional and town center retail space and 10 million square feet of office space, as well as over 1,100 acres of regional parks and open space. Centrally set 10 minutes east of downtown Denver and 20 minutes from Denver International Airport, Stapleton will be home to 30,000 residents and 35,000 workers, when complete. Interested buyers may visit Syracuse Village’s sales information center (open daily 10:00 a.m. to 6:00 p.m.) at 7706 Martin Luther King Blvd, next to the Stapleton Visitor Center, just east of Quebec on Martin Luther King Boulevard. Syracuse Village is marketed exclusively by Barry & Associates, Inc. Real Estate. For more information about the condominiums and two-story townhomes available at Syracuse Village, please contact the sales representatives at (720) 249-5108. Forest City Enterprises, Inc. is a $5 billion NYSE-listed real estate company headquartered in Cleveland, Ohio. The Company is principally engaged in the ownership, development, acquisition and management of commercial and residential real estate throughout the United States. The Company’s portfolio includes interests in retail centers, apartment communities, office buildings and hotels in 21 states and the District of Columbia.