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Press Release

Date: May 25, 2005

Gray Development Group Breaks Ground on Another Community

Gray Development Group breaks ground on another apartment community. Mondrian at Tempe Town Lake, a 523 mixed-use luxury apartment community is scheduled to open in December 2005. The property offers studios through four bedroom apartment homes with restaurant and retail below on the lakefront side. The mid-rise project is a mix of six-story tower units, four-story with mezzanine level, and a six-story private parking garage. Residents will enjoy the luxuries of 3 pools w/pool bar, a 2-story fitness center, resident lounge, and wireless connection in each unit and common areas.

Contact Gray Development at 602-954-0109 or visit online www.graydevelopment.com.

Media Contact:
Bruce Gray
President
602.954.0109

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About Gray Development Group
Gray Development Group is a fully integrated real estate company focused on creating innovative multi-family residential communities. The talented real estate professionals of Gray Development Group provide considerable expertise in the areas of: Real Estate Development, Construction Management, Asset Management, Property Management, Architectural Design and Land Planning. Find out more about Gray Development Group at www.graydevelopment.com.


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