Nationally Acclaimed Awards Honor Excellence in Multifamily Housing


April 6, 2006 - A condominium-hotel in Miami's South Beach and a national developer of condominiums were among 30 multifamily developers, builders, marketers and industry professionals honored by the National Association of Home Builders (NAHB) as the "best of the best" in the multifamily housing industry with its Pillars of the Industry Awards, presented in conjunction with its annual educational conference held in Scottsdale, Ariz.

Considered the most prestigious national awards in the industry, the Pillars Awards honor excellence in apartment and condo design, development, marketing and management, and are looked to by the industry and the media as a showcase of future trends and innovation in multifamily housing. NAHB recognized 30 winners for excellence and superior leadership in three areas: building, marketing, and management.

The Setai Resort and Condominiums, a condo-hotel, took top honors as Best Multifamily Community of the Year, an award selected from among all the winning entries in the builder award categories. The Setai also won this year's Best Mixed-Use Community award.

Crescent Heights, New York City, a firm specializing in condo conversions, is one of two firms that received the Freddie Mac Development Firm of the Year award. This marks the first time that this award has been given to a condominium developer. The company, headed by Bruce Menin, has created a system for handling the conversion process, from acquisition to final sale, in a way that gives every buyer individual attention.

Freddie Mac and NAHB also honored the Minneapolis-based Lander Group, headed by Michael Lander, with the Development Firm of the Year award. The Lander Group focuses on smaller-scale urban infill development using green building technology.

"In what has been an exceptional year for multifamily housing, condo construction and conversion activity have shown impressive growth, and that's reflected in the number of exemplary award-winners and finalists in for-sale categories of the Pillars competition," said Jerry Howard, CEO and executive vice president of the National Association of Home Builders.

While the large number of condos and condo hotels entered in the competition was no surprise, Howard said he was impressed that the number of entries in the affordable housing category increased by a third over last year's record number of affordable entries. "As land prices increased, the cost of renting and buying rose as well, pricing many out of a market-rate apartment or condo," he said. "It is heartening to see how many developers have been working with great creativity and skill to address the needs of working people who need access to high-quality affordable housing."

Mike May, vice president of multifamily sourcing for Freddie Mac, praised this year's outstanding group of winners and finalists. "It is really inspiring to see the innovative ways that multifamily developers have found to house America's families and build communities that meet such a variety of needs and desires," he said.

NAHB Multifamily's Pillars of the Industry Awards are sponsored by Freddie Mac. As one of the nation's largest investors in multifamily housing, Freddie Mac is committed to developing new products and processes to keep the cost of rental housing down while providing superior service and innovation. Consistently more than 90 percent of Freddie Mac's investments make quality rental housing available to families with incomes at or below area median. In total, the company has helped make affordable rental housing possible for more than two million families.

A complete list of winners is included below and will be posted at www.nahb.org/pillars. The winners will also be featured in the April/May 2006 issue of Multifamily Pro magazine.


http://www.nahb.org/news_details.aspx?sectionID=148&newsID=2337

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