Victoria Carton (312) 731-2500, Resident Realtor, 340 on the Park, located in Lakeshore East which is a development in Chicago's New Eastside

Related Receives Prestigious Honor Award From the National Building Museum

Earthtimes.org

June 14, 2007

NEW YORK, June 14, 2007 /PR Newswire / Related today received The National Building Museum Honor Award for 2007. The award was given in recognition of Related's promotion of architecture and design excellence in new development; commitment to high-profile, transformative urban mixed-use projects; leadership in the creation and management of affordable housing across the nation; and legacy of innovative business strategies that have become models for economic development and community revitalization. Stephen M. Ross, Chairman and CEO of Related Companies, and Jorge Perez, CEO of The Related Group, accepted the award on behalf of Related at a gala event this evening at the Museum in Washington, DC.

"Cities across the country have been transformed by Related," said National Building Museum executive director Chase Rynd. "The company's support of extraordinary architecture along with its contributions toward urban revitalization has resulted in tremendous economic, cultural, and civic benefits for our society. The Museum recognizes Related's significant achievements in improving our built environment."

For over 20 years, the National Building Museum's Honor Award has recognized outstanding individuals and companies who have made significant contributions in the fields of architecture, planning, construction, and building. The Honor Award is given annually by the Museum, and each recipient is chosen from a list of nominees by the Board of Trustees. Past honorees include the Rockefeller and Pritzker families, Senator Daniel Patrick Moynihan, and Michael D. Eisner and the Walt Disney Company.

Stephen M. Ross, Chairman and Founder of Related Companies said, "It is a tremendous honor to receive this esteemed award from such a distinguished institution. As one of the largest private developers in the nation, we take great pride in the extraordinary impact we can have on the economic vitality and quality of life in the communities in which we build. At Related, we feel it is both a responsibility and a privilege to play a role in helping to improve people's lives. It is rewarding to receive this recognition for our design excellence, commitment to affordable housing, and transformative projects."

Jorge Perez, Chairman and Founder of The Related Group said, "The Related Group has earned a national reputation for building luxury condominiums; however, since its inception, we have placed great priority on building affordable and attainable housing. We are extremely pleased to be recognized for our efforts in this area. Our greatest pride is to contribute to the development of 24-hour cities where the moderate-income earner can work, live, and be entertained. It's a great feeling to provide that kind of opportunity to people and to be recognized for doing that which we love."

Founded in 1972, Related is a fully-integrated, diversified real estate organization with in-house divisions in development, acquisitions, property management, marketing and sales. Nearly a decade ago, Related pioneered the concept of commissioning celebrated architects to design residential properties by selecting Robert A.M. Stern to plan his firm's first luxury condominium, The Chatham. A partial list of Related's residential development in New York include: The Park Imperial, designed by Adam D. Tihany, and Astor Place designed by Gwathmey Siegel and Associates. The Brompton, The Harrison, and Superior Ink are all being designed by Robert A.M. Stern. Related has also developed, acquired or financed more than 300,000 units of affordable housing.

Related is staunchly committed to sustainable design and developed one of the first green residential buildings in the nation, Tribeca Green in Battery Park City, New York and Chicago's first green residential building, 340 on the Park. Related is currently developing seven new LEED-certified buildings, The Brompton, The Harrison, and Superior Ink in New York City, The Clarendon in Boston, The Century in Los Angeles, and Canyon Ranch Living and The Peshtigo in Chicago.

Related stands as one of the nation's most pre-eminent developers of mixed-use properties that feature the finest blend of retail, dining, entertainment, cultural, hotel, office and on-site residential uses. Developments such as Manhattan's Time Warner Center and West Palm Beach's CityPlace have become destinations in themselves combining urban planning and architectural design to bring forth the energy and vitality of a great urban location while resonating with the local lifestyle and culture. Related is currently developing an 80-acre destination resort in Snowmass, Colorado, a 144-acre, mixed-use development in Phoenix, Arizona, CityNorth, and the nine- acre Grand Avenue mixed-use development in downtown Los Angeles.

The National Building Museum, created by an act of Congress in 1980, is a private, nonprofit institution that examines and interprets achievements in building through exhibitions, education programs, and publications. The National Building Museum's Honor Award was instituted in 1986 to recognize individuals and organizations that have made important contributions to our nation's built environment. Annually, recipients are selected from a wide variety of backgrounds to call attention to the many factors that determine the form and quality of our built world. Additional information about the Honor Award can be found at http://www.nbm.org/honoraward.html.