University Corners Status Update 2006-03-30

Two of the three city blocks for University Corners have been completely cleared of existing structures, and demolition is currently underway for the first block closest to University Avenue.

Reservations are still being accepted. We have pushed back the timeframe for moving to contract until May/June. Price sheets can be downloaded from our website, but please call us for availability. The direct number to the sales office is (352) 367-4520.

We are reasonably certain that Wyndham will be the on-site hotel operator for owners that wish to place their unit with a rental program. The exact hotel operating fee has not been finalized, but expect something around a 50/50 split.

Association fee budgets have been completed, and are estimated at $0.47 per unit sf per month. This fee includes water, sewer, trash pickup, building & common area maintenance and insurance, security, and parking maintenance.

While contracts have been delayed slightly, construction is still planned to take 2 to 2.5 years, and we expect to be completed in early 2009.

The official University Corners website is located at:

www.universitycorners.com

The unofficial sales team & project page is located at:

http://www.investgainesville.com/index.php?id=16

As always, please let us know if you have any questions.