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> Ritz-carlton Dallas Phase One Tops Out, Press release

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post Aug 7 2006, 11:05 AM
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The Ritz-Carlton, Dallas Celebrates the Topping-Out of Phase I

DALLAS – August 3, 2006 – On July 21, 2006, Crescent Real Estate Equities Company (NYSE:CEI) and Manhattan Construction hosted a topping-out event for The Ritz-Carlton Hotel and The Residences at The Ritz-Carlton, designed by renowned architect Robert A.M. Stern. Concrete structural work began in late August 2005, and the 11-month completion time came two-and-a-half months ahead of schedule. The reinforced concrete structure tops out with more than 42,000 cubic yards of concrete and approximately 3,900 tons of reinforced steel.
Phase I, consisting of The Ritz-Carlton Hotel and The Residences at The Ritz-Carlton, Dallas, is scheduled to open in 2007. The 217-room hotel will occupy the first eight floors, and The Residences will consist of 70 private condominiums located on floors nine through 21. In addition to the hotel's signature restaurant and bar featuring internationally-acclaimed chef Dean Fearing, 18,000 square feet of meeting space, a 10,000-square-foot ballroom, and 12,000-square-foot spa and fitness center, the building also offers incredible views of downtown Dallas and surrounding Uptown area.

Developers of The Residences at The Ritz-Carlton, Dallas recently announced that Phase I has only a few select homes still available, increasing the demand of the 5 acre Ritz-Carlton, the Dallas neighborhood's newest additions, The Tower Residences and Regency Row. Phase II will offer 96 residences with a variety of floor plans ranging from one- to three- bedroom residences to penthouses. Four Regency Row homes also will be separate from the tower, offering a new style of living that has not been available in Dallas. Phase II is scheduled for completion in fall 2008. Prices range from $700,000 to $8 million.

“We are thrilled with our construction team's impressive progress, and we hope to carry this momentum through to the construction of Phase II,” said Kenneth S. Moczulski, Managing Director, Investments, Crescent Real Estate Equities Company. “Everyone has worked incredibly hard, and we appreciate the dedication shown to the project.”

For additional information on Phase I of The Ritz-Carlton, Dallas, please visit www.TheResidencesDallas.com, and for additional information on Phase II of The Ritz-Carlton, Dallas, please visit www.AreYouOnTheListPhase2.com or call The Residences at The Ritz-Carlton, Dallas Sales Center at 214.855.2020.
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