CONSTRUCTION TO BEGIN SOON ON 20 WATERWAY AVENUE

New building overlooking Waterway Square to house four restaurants

Construction will soon begin on 20 Waterway Avenue, a new building planned to house four restaurants in The Woodlands Town Center. Designed by Frank Lucas of Baltimore, MD, the building will be bordered by The Woodlands Waterway® to the south, and by Waterway Square to the east. Waterway Square is a one-acre “European styled” plaza with signature fountains that is slated to open in late February, 2008, according to Dan Leverett, vice president of commercial for The Woodlands Development Company.

The 30,000-square-foot building features a distinctive architectural design with a two-story structure on the south side bordering The Waterway and a three-story structure with roof terrace on the north side. The taller structure will also extend further out toward Waterway Square. The main, elevator-served entry in the center of the building will be adjacent to Waterway Square and will include public restrooms. Separate interior entries will lead to the four restaurants housed in the new building.

“The design for 20 Waterway Avenue gives the impression of a collection of smaller pieces rather than one large building,” said Frank Lucas. “The shape of the buildings is very articulated, providing various solar orientations and views of The Waterway and the Square. There will also be ‘roofscapes' on each building that offer interesting views from the taller buildings around the Square, like 24 Waterway Avenue and the planned condominium tower and boutique hotel. The three-story structure will feature a rooftop terrace and the rooftop of the smaller structure will be a ‘low meadow' with sedum groundcover plantings”.

All four restaurants will be very urban, with entries off the plaza and no back doors. Terraces, balconies and cantilevered decks will provide multiple viewpoints for those dining outdoors.

“20 Waterway Avenue will be the ideal indoor/outdoor environment for dining on Waterway Square,” said Leverett. “The design is architecturally significant, and distinctly urban in look and feel. Enjoying a glass of wine on the rooftop deck at 20 Waterway Avenue while watching the fountains dance below in Waterway Square, will be a very memorable experience.”

Negotiations are underway with several restaurants to locate in the new building when it is completed in 2008.

The Woodlands is a 28,000-acre master-planned community located 27 miles north of downtown Houston. It is a project of The Woodlands Development Company, a limited partnership of Morgan Stanley and General Growth Properties, Inc.