Design Source to Create Flagship

Press Release

HOUSTON, TX – October 27, 2008

West Ave (www.westaveriveroaks.com), a first-of-its-kind retail and residential walkable urban village for Houston’s Inner Loop, will now be one of the city’s top destinations for premium contemporary home furnishings.  A collection of five showrooms – the majority of which are new to market – has just signed a lease for 12,000 square feet on two floors.  While marketed as one entity –The Design Source at West Ave – the showrooms will each have their own identity and aesthetic. Ligne Roset, a 150 year old European home furnishing company (www.ligne-roset-usa.com), which currently has a Houston location in the nearby Rice Village area, will have the largest space at approximately 6,000 square feet.  The two-story anchor store will carry an extensive selection of exclusive furniture, lighting, rugs and accessories.  New to the market, Houston @ Home (H @ H) will showcase some of the finest home furnishings from around the world.  A third showroom will be specific to luxury kitchens by the Italian Varenna line (www.varenna.com) from Poliform.  The final two showroom collections will be announced at a later date. “The introduction of The Design Source at West Ave further cements Houston’s Upper Kirby neighborhood as a premier design district,” says Bruce Wolfe, Director of Ligne Roset.  “We are thrilled to be a part of this innovative concept in a location and environment that are unlike anything in the city.” The Design Source at West Ave is the first retail announcement to be made for West Ave and follows recent commitments by five, new-to-market food and beverage concepts in addition to a 10,000-square-foot spa.  Encompassing three city blocks, West Ave approaches the debut of its luxury apartment component in December and the fall 2009 unveiling of 190,000 square feet of retail on one of the southwest’s most sought after corners:  Kirby Drive and Westheimer Road. Urban Partners is a boutique retail development and consulting firm specializing in the creation of in-town street front retail districts.  Urban Partners merged with Gables Residential in 2006. For the past 25 years, Urban Partners has been crafting distinctive urban neighborhoods that are representative of the leading edge of retail and residential development. Neighborhoods created by Urban Partners are genuine urban villages with a direct connection to the business and cultural community that simply cannot be duplicated in a new development or suburban setting. Gables Residential is a fully integrated real estate company engaged in the apartment community management, development, construction, acquisition and disposition businesses.  Gables owns upscale class AA/A apartment home communities in resilient, high job-growth markets, primarily Atlanta, Houston, South Florida, Austin, Dallas, Tampa, San Diego/Inland Empire and Washington, D.C.  Organized as a real estate investment trust (REIT), Gables' operating experience dates back to 1982.   Gables' research-driven investment strategy, integrated information systems, high-quality assets and skilled team of associates have combined to contribute continued operating profitability for 20 years and through multiple real estate cycles.