Evergreen Realty Advisors to Begin 400,000 Square Foot Mixed-Use Development at
Craig Ranch  

Times Square at Craig Ranch includes 80,000 Square Feet of Prime Retail Space and 300+ Upscale Apartments

DALLAS, Texas – August 31, 2006 – Evergreen Realty Advisors announced today that construction is scheduled to begin in October on a 4.62 acre mixed-use development in the world class, master planned Craig Ranch in McKinney, TX. With five stories containing over 800,000 total square feet including garage, the architecturally distinctive Times Square at Craig Ranch has a residential component offering 320 upscale apartments, and an additional 80,000 square feet of prime retail space. The new building will be located at the main corner in Craig Ranch’s Town Center, just across from the new TPC Craig Ranch Golf Club and Cooper Aerobics Center. Completion is scheduled for Spring 2008.

“Times Square at Craig Ranch will offer a lifestyle unlike any other in the metroplex,” said Steve Everbach, managing partner of Evergreen Realty Advisors. “Our residents will have the ability to access a multitude of retail amenities, walk across the street to play golf at a $45 million TPC Golf Club, and work out at the world renowned Cooper Aerobics Center. We have already seen interest from retailers that could fill a majority of the retail space. We are hoping the building will be the centerpiece for activity in the Town Center at Craig Ranch.”

Times Square at Craig Ranch is a Class A development designed to include the services and feel of a four-star hotel. Advanced technology, custom designs accented with stainless steel, granite, track lighting, wood flooring, spacious closets, garden baths, custom balconies and spectacular views will make this residential project superior in the metroplex. The retail component is designed to include customized individual storefronts with integrated signage to assure architectural uniqueness and integrity

“This is a monumental announcement for us,” said David Craig, chairman and CEO of Craig International and founder of Craig Ranch. “As the very first vertical residential component, Times Square will literally kick off the Town Center portion of Craig Ranch making it a true destination location. It will soon be a gathering place where people can enjoy shopping, art, jazz festivals and fine dining. Times Square is as significant to us as our partnership with TPC and Cooper Aerobics Center. We are about to see a vision come to life.”

Times Square at Craig Ranch was designed by PB2 Architecture and Engineering and the general contractor is Dallas-based Precept Builders. Other development service partners include JPI for residential leasing and management and The Weitzman Group for retail.

Financing was arranged by Jason Pumpelly and Robert Blount of Dallas-based Holliday Fenoglio Fowler, LP and includes Bank of America, Washington Mutual and TriSail Capital Corporation.

ABOUT CRAIG RANCH

Craig Ranch is a 2,500-acre, master planned, mixed-use development conveniently located in McKinney, TX, on Highway 121 and Custer Road. Positioned in Collin County at the northeast corner where the four cities of McKinney, Allen, Plano, and Frisco converge, Craig Ranch lies at the crossroads of one of the most exciting real estate growth corridors in America. The Town Center marks the heart of the Craig Ranch confluence, featuring residences and loft offices above street bistros, fine dining, shops, boutiques, corner stores, and other merchant establishments. Amid the pedestrian setting, the local Craig Ranch Trolley transportation system shuttles visitors in and out of the Center. For more information, visit www.craigranchtx.com.

ABOUT Evergreen Realty Advisors

Evergreen Realty Advisors is a Dallas-based real estate partnership focused on the acquisition and development of value added commercial real estate investments. The company concentrates on strategically positioning real estate assets to maximize value in their respective markets. Recent Evergreen projects include Lake Cliff Tower and the adjacent Gateway Center, and Trimble Crossing at Dalton Ranch. For more information, visit www.evrpartners.com.