DALLAS, TX - March 2003 - ZOM is developing a 218-unit luxury urban rental community in the prestigious and dynamic Uptown area of Dallas. The Waverly at Cityplace, located at the intersection of McKinney Avenue and Blackburn Avenue, will offer an innovative mixed product design. This 218 total unit community will feature a twenty story high-rise tower, containing 146 units flanked by a four story low-rise consisting of 72 urban lofts. The tower features an elliptical element as well as a beacon element, which caps the tower and provides architectural distinction. As a result of the building's configuration most units will have a view of the downtown Dallas skyline.

The Waverly at Cityplace will offer a superior level of quality and features including: fitness area, clubroom with business center and pool in a courtyard setting. The Lofts will features mezzanine level bedrooms, 18' ceiling heights and full glass exterior walls while the Tower will feature downtown views, large master suites, large walk-in closets as well as full glass exterior walls. Other features include:

Located in the Cityplace West District, The Waverly at Cityplace will be in close proximity to West Village offering upscale dining, entertainment and neighborhood shopping in a pedestrain friendly environment. West Village includes 140,000 square feet of high end shopping. Other entertainment venues include a five-screen art house theatre and several restaurants. The central business district of Dallas is 1.4 miles south of The Waverly at Cityplace and access to the surrounding employment centers is excellent by either private or public transportation.

The Waverly at Cityplace will introduce a new standard of luxury when compared to surrounding, competitive properties due to the large average unit size, upgraded finished and locational advantage. Destined to reshape the uptown Dallas skyline, construction is anticipated to begin in July 2003! "We believe The Waverly at Cityplace offers a prestigious and attractive location coupled with distinctive units and lifestyle," states Kevin Wisdom, ZOM Texas Senior Vice President.

ZOM's creative approach to development has been nationally recognized, and they have received numerous awards for their multifamily developments. ZOM has developed over 6,000 apartments in Florida and currently has over 2,000 units in various stages of development throughout Florida including Orlando, Tampa, Ft. Lauderdale and Miami.