The Preserve at Dowlen consists of 304 class “A” luxury community residential units with approximately 525 parking spaces including some detached garages and carports on a 15 acre site. All residences will include high-end appliances, ceramic tile floors, and garden style tubs, along other luxury finishes. Property amenities include a resort-style pool, state of the art fitness facility, and a business center. The project will offer nine floor plans that will appeal to the varied tenant base the project is expected to attract.

Highlights

• Construction is expected to commence in July 2007, with delivery of the leasing office / clubhouse and the first rental units scheduled for completion in December 2007.
  
  
• Construction should be completed on the project by May 2008, and is expected to reach 93% stabilized occupancy by April 2009. Construction will be completed under a guaranteed-maximum contract. The design and construction will comply with the 2000 International Building Code (“IBC”) to ensure that the buildings will withstand hurricane force winds.
  
  
• The 15 acre site was part of a 46.7 acre tract, and the remaining 31.7 acre parcel is being developed into a town center type retail center.
  
  
• This property is located in a well-established neighborhood approximately six miles northwest of the Central Business District and just east of Parkdale Mall, the largest shopping center in Beaumont.