News

MATRIX DEVELOPMENT GROUP ANNOUNCES WYNGATE STIMULUS PLAN -
DOUBLING FEDERAL GOVERNMENT'S HOUSING INCENTIVE
AT NEW TOWNHOME DEVELOPMENT OUTSIDE PHILADELPHIA

$8,000 Cash Back From Developer, Coupled With the American Recovery and Reinvestment Act’s $8,000 Tax Credit Offers Prospective Buyers a Once-in-a-Lifetime Buying Opportunity

CRANBURY, N.J. (February 25, 2009) – Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, has announced that they will be offering their own stimulus plan of $8,000 for homebuyers at Wyngate Townhome Development, located in Cheltenham Township in Pennsylvania.

While all buyers of Wyngate’s remaining quick-delivery homes will be eligible for the $8,000 Wyngate Stimulus Credit, it provides qualified first time homebuyers a total of $16,000 in incentives to buy when paired with the recently approved American Recovery and Reinvestment Act, which offers first time homebuyers up to $8,000 in tax rebates.

“The federal government’s plan to help jumpstart the housing market has given first-time buyers a phenomenal incentive to purchase a new home today,” said Charlie Taylor, of Matrix Development Group. “We wanted to build upon that for first time buyers and extend the credit to all homebuyers in today’s market. Our value pricing strategy, along with the additional $8,000 incentive, $8,000 tax rebate and all time low-interest rates create a once in a lifetime opportunity for buyers.”

Just 25 minutes from Center City Philadelphia, the Wyngate townhome community will feature 29 buildings and 34 acres of dedicated open space. A mix of six and eight unit townhome buildings with two and three bedroom floorplans are under construction at the Montgomery Township property. Current pricing is between $239,900 and $299,900, among the lowest price for a new home anywhere in Pennsylvania.

The townhomes, designed by L & M Architects of Wayne, Pa., are designed with a blend of stone, stucco and siding, plus 30-year-Timberline dimensional roof shingles accented by standing seam metal roofing. Inside, the two story homes feature 9-foot first-floor ceilings; four-panel Colonial-style doors; wall-to-wall carpeting; kitchens with Wellborn Forrest Products cabinetry in a variety of finishes; Whirlpool appliance packages; Moen faucets; and attached garages. Buyers can add a third-floor loft; including that option, 10 different floorplans are available. Other options include a sunroom with a skylight, a second master-bedroom suite, an electric fireplace and Corian or granite countertops.

Interested buyers can visit the Wyngate sales center located in the newly completed building. The sale center is open Thursday to Tuesday from 11 a.m. to 5 p.m. For more information on Wyngate, please call 215-884-1616 or visit www.wyngatetownhomes.com.

Matrix Development Group

Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The Company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the Company has developed real estate valued in excess of $1 billion and has been recognized for its leadership by numerous charitable, community and real estate organizations.

For more information on Matrix Development Group, please contact the Company’s Cranbury, New Jersey office at 732-521-2900 or visit www.matrixcompanies.com.

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$8,000 Cash Back From Developer, Coupled With the American Recovery and Reinvestment Act’s $8,000 Tax Credit Offers Prospective Buyers a Once-in-a-Lifetime Buying Opportunity

CRANBURY, N.J. (February 25, 2009) – Matrix Development Group, one of the Northeast’s most active and well-regarded real estate investment and development companies, has announced that they will be offering their own stimulus plan of $8,000 for homebuyers at Wyngate Townhome Development, located in Cheltenham Township in Pennsylvania.

While all buyers of Wyngate’s remaining quick-delivery homes will be eligible for the $8,000 Wyngate Stimulus Credit, it provides qualified first time homebuyers a total of $16,000 in incentives to buy when paired with the recently approved American Recovery and Reinvestment Act, which offers first time homebuyers up to $8,000 in tax rebates.

“The federal government’s plan to help jumpstart the housing market has given first-time buyers a phenomenal incentive to purchase a new home today,” said Charlie Taylor, of Matrix Development Group. “We wanted to build upon that for first time buyers and extend the credit to all homebuyers in today’s market. Our value pricing strategy, along with the additional $8,000 incentive, $8,000 tax rebate and all time low-interest rates create a once in a lifetime opportunity for buyers.”

Just 25 minutes from Center City Philadelphia, the Wyngate townhome community will feature 29 buildings and 34 acres of dedicated open space. A mix of six and eight unit townhome buildings with two and three bedroom floorplans are under construction at the Montgomery Township property. Current pricing is between $239,900 and $299,900, among the lowest price for a new home anywhere in Pennsylvania.

The townhomes, designed by L & M Architects of Wayne, Pa., are designed with a blend of stone, stucco and siding, plus 30-year-Timberline dimensional roof shingles accented by standing seam metal roofing. Inside, the two story homes feature 9-foot first-floor ceilings; four-panel Colonial-style doors; wall-to-wall carpeting; kitchens with Wellborn Forrest Products cabinetry in a variety of finishes; Whirlpool appliance packages; Moen faucets; and attached garages. Buyers can add a third-floor loft; including that option, 10 different floorplans are available. Other options include a sunroom with a skylight, a second master-bedroom suite, an electric fireplace and Corian or granite countertops.

Interested buyers can visit the Wyngate sales center located in the newly completed building. The sale center is open Thursday to Tuesday from 11 a.m. to 5 p.m. For more information on Wyngate, please call 215-884-1616 or visit www.wyngatetownhomes.com.

Matrix Development Group

Matrix Development Group is a privately held, full-service real estate investment and development company with offices in New Jersey and Pennsylvania. The Company is active in the commercial, industrial, urban, residential, golf and hospitality markets throughout the Northeast and mid-Atlantic regions. Since its founding in 1979, the Company has developed real estate valued in excess of $1 billion and has been recognized for its leadership by numerous charitable, community and real estate organizations.

For more information on Matrix Development Group, please contact the Company’s Cranbury, New Jersey office at 732-521-2900 or visit www.matrixcompanies.com.