News

GRAND OPENING PLANNED FOR MATRIX RESIDENTIAL'S WYNGATE TOWNHOMES
IN CHELTENHAM TOWNSHIP, PA ON JUNE 28TH

Community Invited to “Kick-Off Summer” at 198-Townhome
Suburban Philadelphia Development

WYNCOTE, PA (June 23, 2008) – The community is invited to come “kick-off” summer at Matrix Residential’s Wyngate townhome development Saturday, June 28^th from 11 a.m. to 5 p.m. The event will feature a summer barbecue with all-you-can-eat hot dogs and hamburgers fresh from the grill.

Wyngate is a planned 198-townhome gated community under construction on Limekiln Pike in Cheltenham Township offering two- and three-bedroom floorplans. Wyngate is just 25 minutes from Center City Philadelphia and the community is highlighted by 34 acres of open space. In addition to some summer fun, attendees will be able to walk through Wyngate’s eight model townhomes, which showcase each of the community’s five basic floor plans, and plenty of upgrades. Also on display will be a model completely merchandised with Pottery Barn home furnishings.

“As we walked this beautiful site and started to get a sense of how the community will lay out amid the open space, trees and landscaping we felt that it would be fun to center our grand opening on kicking off the summer,” said Charlie Taylor, vice president of Matrix Residential. “What’s happening here is so exciting, we really wanted to share it in the context of a celebration. We are really looking forward to a great event for the community, where everyone can learn a little bit about our plans.”

Matrix Residential will soon complete Phase I of the community, which consists of 28 townhomes in four buildings, and is under contract on 23 townhomes. “We expect to have a very busy summer and fall when we begin our next phase of construction after the grand opening,” said Taylor. “The market pressure to get into completed models has been extraordinary. When you mix our product with our exceptional pricing, we are the best new construction value in Montgomery County!”

Matrix Residential is a subsidiary of Matrix Development Group, a leading real estate investment and development firm in markets throughout the Northeast and mid-Atlantic regions.

Wyngate will feature two and three bedroom floorplans in 29 buildings with a mix of six- and eight-unit buildings at the pastoral Montgomery County setting. Pre-construction prices, which end June 27, are between $239,900 and $299,900. The second phase of construction will soon be underway.

The townhomes exteriors 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 one of the newly completed buildings. 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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Community Invited to “Kick-Off Summer” at 198-Townhome
Suburban Philadelphia Development

WYNCOTE, PA (June 23, 2008) – The community is invited to come “kick-off” summer at Matrix Residential’s Wyngate townhome development Saturday, June 28^th from 11 a.m. to 5 p.m. The event will feature a summer barbecue with all-you-can-eat hot dogs and hamburgers fresh from the grill.

Wyngate is a planned 198-townhome gated community under construction on Limekiln Pike in Cheltenham Township offering two- and three-bedroom floorplans. Wyngate is just 25 minutes from Center City Philadelphia and the community is highlighted by 34 acres of open space. In addition to some summer fun, attendees will be able to walk through Wyngate’s eight model townhomes, which showcase each of the community’s five basic floor plans, and plenty of upgrades. Also on display will be a model completely merchandised with Pottery Barn home furnishings.

“As we walked this beautiful site and started to get a sense of how the community will lay out amid the open space, trees and landscaping we felt that it would be fun to center our grand opening on kicking off the summer,” said Charlie Taylor, vice president of Matrix Residential. “What’s happening here is so exciting, we really wanted to share it in the context of a celebration. We are really looking forward to a great event for the community, where everyone can learn a little bit about our plans.”

Matrix Residential will soon complete Phase I of the community, which consists of 28 townhomes in four buildings, and is under contract on 23 townhomes. “We expect to have a very busy summer and fall when we begin our next phase of construction after the grand opening,” said Taylor. “The market pressure to get into completed models has been extraordinary. When you mix our product with our exceptional pricing, we are the best new construction value in Montgomery County!”

Matrix Residential is a subsidiary of Matrix Development Group, a leading real estate investment and development firm in markets throughout the Northeast and mid-Atlantic regions.

Wyngate will feature two and three bedroom floorplans in 29 buildings with a mix of six- and eight-unit buildings at the pastoral Montgomery County setting. Pre-construction prices, which end June 27, are between $239,900 and $299,900. The second phase of construction will soon be underway.

The townhomes exteriors 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 one of the newly completed buildings. 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.