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Hubbell Realty Breaks Ground On Final Phase of Court Avenue Project

DES MOINES, Iowa (June 27, 2006) – Hubbell Realty Company has announced that construction is set to begin on the final phase of the Court Avenue development at 4th Street and Court Avenue in downtown Des Moines. The project, a joint venture between Hubbell Realty Company and BH Equities, consists of 52 apartments and 46 condominiums, underground parking and nearly 8,500 square feet of commercial space. The project is expected to be complete in late 2007. A construction kick-off party was held today in conjunction with the Des Moines City Council, the Iowa Finance Authority and the Downtown Community Alliance to announce design features and amenities. The project, a joint venture between Hubbell Realty Company and BH Equities, consists of 52 apartments and 46 condominiums, underground parking and nearly 8,500 square feet of commercial space. The project is expected to be complete in late 2007. Designed by GE Wattier Architecture, Inc., the one and two-bedroom apartment units range from 693 square feet to nearly 1,000 square feet in size. All units feature open kitchens and living areas, ceilings at least nine feet high, and impressive views of downtown Des Moines. Other amenities include a business and fitness center, leasing office and community room all located on the first floor. Half the units will be income restricted. The 4th Street Condominiums will consist of 46 two and three-bedroom units with a choice of several floor plans, including one-story or two-story designs. All units feature either a patio or balcony overlooking the city. Residents will have access to a community rooftop garden and patio as well as underground parking. “We’re thrilled to see the final phase our of long anticipated Court Avenue developments get underway,” states Rick Tollakson, President and CEO of Hubbell Realty Company. “The face of downtown is changing and with the transformation of Court Avenue, the dream of a vibrant downtown will soon be a reality.” For leasing information on the Court Avenue Loft Apartments, contact Matt Dick or Alisa Koslan at the leasing firm of BH Equities at (515) 953-5090 or visit the web site at www.desmoinesdowntownliving.com.

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