News

Carter and Dawson Company Receive Green Light for Cincinnati Riverfront Development

Atlanta, GA (November 1, 2007) –Carter and The Dawson Company, announced today they have received local government approval to move forward with the development of the Cincinnati Banks Project. The Banks will be Cincinnati's largest single, mixed-use developments and be comprised of a dynamic blend residential, office hotel and retail components. The $600 million project will be a 2.8 million square foot development on 18 acres along Cincinnati's downtown riverfront.

"Together with The Dawson Company, Carter is proud to make this premier development a reality in Cincinnati," said Trent Germano, vice chairman at Carter. "Our goal is to make the Cincinnati Banks a vibrant location for the city where people live, work and play."

The approval by Cincinnati's city and county governments enables construction for Phase 1 to start in early 2008, with completion in 2010. The first phase of the project would include about 300 apartments and 70,000 square feet of retail

"The Dawson Company is excited to be a part of the Cincinnati Banks and are anxious to start work, "said Harold A. Dawson, Jr, president of the The Dawson Company." We view this project as a landmark opportunity to create an economic and cultural center in one of the Midwest's thriving urban environments."

The Cincinnati Banks development agreement includes breakthrough agreements on diversity, offering job training programs for poor and minority workers, and requiring that 22 percent of the labor be performed by minority or women-owned firms.

About Carter

Founded in 1958, Carter is the Southeast's oldest and largest privately held full-service commercial real estate firm. Carter provides a diverse range of commercial real estate services, including investments, development, transaction services, and property and facility management to real estate users and investors.

In addition to its Atlanta headquarters, Carter maintains offices in Birmingham, Ala., Orlando, Fla., Raleigh, N.C., and Tampa, Fla. National and international services are provided through Carter's ownership in ONCOR International. For more information please visit www.carterusa.com.

About The Dawson Company

Founded in 1969, The Dawson Company (www.thedawsoncompany.com) is a fully-integrated, comprehensive commercial and residential real estate development firm, specializing in mixed-use, transit-oriented development. The Dawson Company enjoys an extensive track record of success and is firmly established as a well respected, innovative and service-oriented real estate firm. Headquartered in Atlanta, GA, The Dawson Company is actively developing projects in Atlanta, Baltimore, and Cincinnati. Currently, Dawson's mixed-use, transit-oriented real estate developments that are completed or presently underway are valued at more than $700 million.