February 14, 2003

The Woodlands Waterway Temporarily Drained For Future Expansion and Clean-Up

The Woodlands Waterway has recently been drained, with water levels remaining low until approximately April, 2003, according to Alex Sutton, vice president of land development for The Woodlands Operating Company, L.P. Drainage allows for construction of the new Waterway Avenue bridge foundation, the extension of the corridor to The Woodlands Mall, and cleaning of the channel, Sutton said. The Waterway Avenue Bridge will connect visitors to the Waterway Square entertainment area and Tinseltown Cinema. The preliminary design includes a clock tower with an elevator, red brick façade and graceful lighted, arches. The Waterway corridor is being extended to link to The Woodlands Mall, a 1.2 -million-square-foot mall. The 150,000-square foot addition on the mall’s south side will serve as an anchor to The Woodlands Waterway’s east end, bringing new restaurants and upscale specialty shops in an open-air ‘promenade’ setting. The expansion of the mall is scheduled to open in two phases, beginning in the fall of 2003.

Cleaning of The Waterway is vital. “To maintain water quality, The Woodlands Waterway has to be cleaned annually of trash, debris, and sediments that settle at the bottom of the channel,” Sutton said. “Bulkheads also have to be inspected.” The Woodlands Waterway is a 1.25-mile long transportation corridor, water feature, and linear park that links office buildings, shopping, dining, urban residences, and entertainment venues in The Woodlands Town Center or “downtown” of The Woodlands.

The Woodlands is a 27,000-acre master-planned community located 27 miles north of downtown Houston. It is a project of The Woodlands Operating Company, L.P., a Crescent Real Estate Equities and Morgan Stanley limited partnership. (end)

For more information, contact: Susan Vreeland (281) 719-6174 svreeland@thewoodlands.com Lorrie Parise (281) 719-6344 lparise@thewoodlands.com