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Clark DCC Builders Breaks Ground on Emerald Lake

June 28, 2002

Lake Worth, Fla. — Clark DCC Builders*, the Florida construction arm of Clark Realty Builders**, recently broke ground on Emerald Lake Apartments in Lake Worth, Fla. Apartments will be available for lease in April 2003. The 284-unit garden-style community is being developed by Grayhawk Development Corporation of Lake Worth, Fla., and was designed by Eric Brendler Architects of San Antonio, Tex. The construction is being managed by Clark DCC Builders' Central Florida office in Longwood.

Clark DCC Builders Breaks Ground on Emerald Lake Press Release Image

Emerald Lake

Emerald Lake's 284 apartments are divided among 11 three-story, concrete buildings with stucco exteriors. Floor plans include one-, two-, and three-bedroom units. Residents will enjoy many amenities, including a fitness center, pool and pool house, volleyball courts, storage facilities, a putting green, and detached garages or carports. A scenic walkway over a canal will lead residents to the community's lakefront clubhouse.

Emerald Lake Apartments are located one mile from Palm Beach Community College and are convenient to both the Florida Turnpike and Interstate 95. The development was financed through GMAC and HUD-secured loans.

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* Clark DCC Builders was established when Clark Realty Builders acquired Florida contractor DCC Constructors, Inc., a 15-year-old firm specializing in residential projects.

** Clark Realty Builders (CRB) is a national, multifamily general contractor recently ranked as the sixth largest such firm in the U.S. by Builder Magazine. More information about CRB can be found on the Internet at www.clarkrealty.com.

About Clark Realty

The Clark Realty companies offer a full spectrum of services to the real estate industry including investment, development, construction, property management, and capital markets.