Archstone In Finals For Award

WASHINGTON, DC - The National Association of Home Builders [NAHB] recognized The Flats at Dupont Circle, Archstone North Point and Westchester at Contee Crossing as being among the top trend-setters in the multifamily housing industry. NAHB's annual Pillars of the Industry Awards program promotes excellence in apartment and condominium design, development, marketing and management and is considered a showcase of future trends and
innovation.

"Archstone places a significant emphasis on developing state-of-the-art communities that not only inspire the residents who live there, but also make very positive contributions to the neighborhoods we build in," said R. Scot Sellers, Archstone's Chief Executive Officer. "We're excited that the National Association of Home Builders has recognized the quality and value of these three outstanding Archstone communities."

"This recognition is also an acknowledgment of our tremendous expertise and institutional knowledge that we are now utilizing to offer comprehensive advisory services to owners and lenders who want to maximize the value of their assets through Archstone Real Estate Advisory Services."

Finalists were selected for superior achievement in a variety of categories, including Best High-Rise Apartment and Best Garden Apartment Community. The Flats at Dupont Circle (Washington, D.C.) was nominated for Best High-Rise Apartment based on attributes such as its prime location in the heart of Dupont circle, its ultra chic amenity finishes that appeal to hip urbanites and its 3,000-square-foot workout facility overlooking the community's courtyard.

Archstone North Point (Cambridge, Mass.) is also a finalist for Best High-Rise Apartment. Residents enjoy an exceptional location, high-end interior finishes, rich amenities and great views of the Charles River and the nearby Boston skyline. Archstone has transformed a former industrial site into a highly desirable residential community.

Westchester at Contee Crossing (Laurel, Md.) is a finalist for Best Garden Apartment Community. This property offers abundant amenities, including a 24-hour Caliber Sports Club ®, a private theater and a true resort-style pool. The community was designed in conjunction with Laurel city officials to help revitalize the area.

Hundreds of entries"representing apartment and condominium communities from across the country"vied for this year's awards, which are considered among the most prestigious in the housing industry.

"This year's finalists represent the creativity of industry leaders who've combined beauty and high quality with an emphasis on what is most valuable to residents," said Steve Patterson, chairman of NAHB's Multifamily Leadership Board and CEO of ZOM USA in Orlando, Fla. "In the current economic environment, it is also extremely encouraging to see so many multifamily builders focusing on affordability and long-term sustainability."

Winners will be announced at the annual NAHB Multifamily Pillars of the Industry Conference and Awards Gala on March 18 at the Hotel Del Coronado in San Diego.