Crosland Properties Builds Apartment Communities in the Triangle`s Newest Mixed-use Developments

Charlotte, NC, April 6, 2000 - Crosland Properties is developing, building and will manage two new apartment communities in the Triangle's most prestigious mixed-use developments, Wakefield Plantation and Meadowmont.

Wakefield Glen at Wakefield Plantation in North Raleigh will include 246 units surrounded by an 18-hole championship golf course designed by Hale Irwin and a 35,000 square foot private Tournament Players Club with a second PGA golf course. The apartment community will offer one- and two-bedroom garden apartments ranging from 846 to 1,376 square feet. Wakefield Glen will also offer three-bedroom townhouses with square footage ranging from 1,541 to 1,570. Construction is underway, and the first units are targeted for occupancy in April 2000.

Meadowmont Apartments at Meadowmont in Chapel Hill will include 258 luxury apartments in the heart of Tarheel country. However, residents need not be Carolina blue to enjoy the community's easy access to several major traffic routes, including Highway 54, US 15-501, US 70 and Interstates 40 and 85. Meadowmont Apartments will offer one-, two- and three-bedroom garden apartments with square footage ranging from 840 to 1,545. They are under construction with substantial completion slated for late-June 2000.

Both projects are consistent with Crosland's strategy to develop in 'destination' communities with a rich mix of lifestyle amenities that combine to create unique living and working environments.

When complete Wakefield Plantation's 2,200 acres will include three schools, a 500-acre commercial tract and 4,000 homes ranging in price from $100,000 to more than $1 million. With 435 acres, Meadowmont will include more than 1,200 residences as well as commercial, retail, and office space, a school and community center with a pool and tennis courts, and various meadows and greenways.

Crosland Properties, a division of the Crosland Group, Inc., owns and operates 17 market rates apartment communities in Charlotte, the Research Triangle region and the Piedmont Triad region. President of the division is Jud Little.

For more information on Wakefield Glen or leasing opportunities, call (919) 570-1199.

For more information on Meadowmont Apartments or leasing opportunities, please call (919) 918-1110.