The Waverly at South Beach
Celebrates Groundbreaking at
ZOM's Premier South Beach Property

ORLANDO, FL - December 11, 1998 - ZOM's prestigious South Beach property, The Waverly at South Beach, celebrated the commencement of construction with a groundbreaking ceremony.

Key members of the accomplished project team for this innovative high-rise project consists of the internationally acclaimed architectural firm, Arquitectonica, whose designs have won numerous American Institute of Architects and Progressive Architecture Design Awards, Chase Construction Company and Marc-Michaels Interior Design.

The Waverly at South Beach will undoubtedly become a Miami Beach landmark. The 399-unit project features interconnecting residential towers of 29 and 35 stories. The top of each tower will boast distinctive wave-like architectural elements that will be illuminated at night, providing a captivating outline of what is certain to become Miami Beach's premiere urban residential address. The project will feature a variety of one and two bedroom floor plans and a limited number of penthouse level units. Residents will be drawn to the cultural entertainment and sophisticated lifestyle elements that have made South Beach an internationally recognized destination. Leasing is expected to begin in the summer of 2001.

ZOM has previously won 22 Aurora awards for projects it has developed, including a Golden Aurora for "Best Development Project" in 1997 and the Prestigious Pillars Award for "Multifamily Development Firm of the Year" in 1999.