News

MATRIX RESIDENTIAL'S WYNGATE TOWNHOME DEVELOPMENT DEFYING THE
MARKET WITH INCREDIBLE INTEREST AFTER A SUCCESSFUL GRAND OPENING

30 Deposits Have Already Been Placed on Homes in the 198-Unit Suburban Philadelphia Development, Just 25 Minutes from Center City

WYNCOTE, PA. (July 11, 2008) – Matrix Residential’s Wyngate townhome development, designed by L & M Design, is proving to be an incredible success with nearly 200 registered guests coming to view model floor plans and take advantage of low preconstruction pricing at its recent grand opening. Thirty deposits have already been placed on homes in the development, defying current market trends.

The planned 198-unit gated community is currently under construction on Limekiln Pike in Cheltenham Township. The community will feature 29 buildings and 34 acres of dedicated open space. A mix of six and eight townhome buildings with two and three bedroom floorplans will be constructed at the Montgomery Township property. Pricing begins between $244,900 and $306,900.

Matrix recently completed Phase I of the project, which consisted of 28 townhomes in four buildings. Attendees at the grand opening were able to see all of Wyngate’s five basic floor plans as well as decorated models by DePallo Design, including one decorated with merchandise from Pottery Barn at King of Prussia Mall.

“The response to our preview grand opening has been well beyond our expectations, completely defying current challenging market conditions,” said Charlie Taylor, vice president of Matrix Residential. “The local community clearly recognizes the tremendous value we are offering. Wyngate offers an unprecedented opportunity to purchase a spacious new home at an extraordinary price. All of this, so close to Philadelphia, has resulted in a buying opportunity too good to pass up.”

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.

“We will begin the second phase of construction in the next few weeks, well ahead of schedule,” Taylor said. “Our plan is to start the next phase with a six-unit building, but we are prepared to move forward quickly with more buildings based on the demand from the community.”

Interested buyers can visit the Wyngate sales center located in the newly completed building. The sale center is open everyday except Wednesday, 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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30 Deposits Have Already Been Placed on Homes in the 198-Unit Suburban Philadelphia Development, Just 25 Minutes from Center City

WYNCOTE, PA. (July 11, 2008) – Matrix Residential’s Wyngate townhome development, designed by L & M Design, is proving to be an incredible success with nearly 200 registered guests coming to view model floor plans and take advantage of low preconstruction pricing at its recent grand opening. Thirty deposits have already been placed on homes in the development, defying current market trends.

The planned 198-unit gated community is currently under construction on Limekiln Pike in Cheltenham Township. The community will feature 29 buildings and 34 acres of dedicated open space. A mix of six and eight townhome buildings with two and three bedroom floorplans will be constructed at the Montgomery Township property. Pricing begins between $244,900 and $306,900.

Matrix recently completed Phase I of the project, which consisted of 28 townhomes in four buildings. Attendees at the grand opening were able to see all of Wyngate’s five basic floor plans as well as decorated models by DePallo Design, including one decorated with merchandise from Pottery Barn at King of Prussia Mall.

“The response to our preview grand opening has been well beyond our expectations, completely defying current challenging market conditions,” said Charlie Taylor, vice president of Matrix Residential. “The local community clearly recognizes the tremendous value we are offering. Wyngate offers an unprecedented opportunity to purchase a spacious new home at an extraordinary price. All of this, so close to Philadelphia, has resulted in a buying opportunity too good to pass up.”

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.

“We will begin the second phase of construction in the next few weeks, well ahead of schedule,” Taylor said. “Our plan is to start the next phase with a six-unit building, but we are prepared to move forward quickly with more buildings based on the demand from the community.”

Interested buyers can visit the Wyngate sales center located in the newly completed building. The sale center is open everyday except Wednesday, 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.