Metro News Release

For immediate release: June 17, 2004

Metro board selects developer for area adjacent to West Hyattsville Metrorail station

A joint venture was endorsed today by the Washington Metropolitan Area Transit Authority (WMATA) Board to develop a combination of townhomes, mid-rise condominiums, high-rise condominiums, office space and retail space on 27.5 acres at the West Hyattsville Metrorail station in Prince George’s County, MD and on an adjacent 18-acre parcel owned by the selected developer. Centex Homes, a nationally known residential developer with a local office in Chantilly, VA, and Gunston Hall Realty, a local developer based in Springfield, VA, are teaming to provide a mix of residential, office and retail uses for the site. The joint development project closely conforms to the West Hyattsville Transit Oriented Development Strategy developed by the Maryland Department of Transportation, Maryland-National Capital Park and Planning Commission, the City of Hyattsville and WMATA for a mixed-use " transit village" development in the area surrounding the West Hyattsville station. Under the agreement, the joint venture of Centex/Gunston will construct 459 mid-rise condominiums, 330 high-rise condominiums, 65,000 square feet of retail space and 200,000 square feet of office space on the WMATA site. The developer will also construct a 600-space parking facility for Metro to replace the existing 453-space park-and-ride and 131-space Kiss & Ride lot that currently exists. The new facility will be owned and operated by WMATA. Centex/Gunston will purchase the 10 acres of WMATA property to the west of the Metrorail tracks for the first phase of the project and assemble it with its adjacent 18-acre parcel for a mixture of townhomes and multi-family residential condominium units. For the second phase of the project, Centex/Gunston will lease the remaining 17.5 acres of the site to the east of the tracks with the option to purchase. The second phase includes office and retail space, and mid and high-rise residential condominiums.

News release issued on June 17, 2004.