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Clark Realty Builders Completes Riverside Manor Townhomes

August 20, 2001

FREDERICKSBURG, Va. — Clark Realty Builders (CRB), the sixth largest multifamily builder in the nation*, recently completed the construction of Riverside Manor Townhomes in Fredericksburg.

Clark Realty Builders Completes Riverside Manor Townhomes Press Release Image

Riverside Manor Townhomes

CRB built the project for RST Development, L.L.C., one of Clark Realty Builders' many repeat clients. With two new projects breaking ground for RST, Clark Realty Builders has now worked with the Virginia Beach developer on six projects, for a total of 900 townhome units in Virginia and Maryland.

Designed by Lessard Architectural Group, Riverside Manor is a unique project consisting of 188 affordable, rental townhomes designed to resemble single family homes.

The $12 million construction project includes 26 wood-frame buildings of three different types, with varying elevations, exterior treatments, and color schemes. Unit exteriors alternate between brick with shutters, vinyl siding with shutters, and vinyl siding without shutters, to create a greater sense of individualism and ownership.

Residents of Riverside Manor can also choose units with optional amenities. For example, 52 units offer direct access garages, 136 units have adjoining storage sheds, 26 units have wood decks, and 162 units include concrete patios.

Located directly off I-95 near Central Park Plaza shopping center, the VHDA affordable housing project provides residents the opportunity to live in a convenient, quiet neighborhood. The development restricts traffic with limited vehicle entrances and also includes a large pond at the rear of the complex. Other community amenities include a clubhouse with a pool, tot lot, and walking trails.

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Clark Realty Builders (CRB) is a national, multifamily general contractor which was recently ranked as the sixth largest such firm in the U.S. by Builder magazine. CRB had revenues of $200 million in the year 2000, with 80% of its work from third-party owners and developers. CRB is a subsidiary of Clark Enterprises, Inc., which also owns The Clark Construction Group, the nation's largest private general building contractor with approximately $2 billion in annual revenues. 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, capital markets, and advisory. More information about Clark Realty can be found on the Internet at www.clarkrealty.com.