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GROSVENOR AMERICAS' MIXED-USE DEVELOPMENT IN VANCOUVER WINS ULI AWARD FOR EXCELLENCE

Grosvenor Americas' innovative mixed-use development in the heart of Vancouver, The RISE, has won a prestigious 2009 Urban Land Institute (ULI) Award for Excellence. It was one of just 10 outstanding developments from the Americas, selected from among over 140 applicants.

Established in 1979, ULI's Awards for Excellence program recognizes the full development process of a project, not just its architecture or design. The criteria for the Awards include leadership, contribution to the community, innovations, public/private partnership, environmental protection and enhancement, response to societal needs, and financial viability.

The RISE covers a 2.3-acre city block in the heart of Vancouver's rapidly developing Cambie Street corridor. The development is just steps away from a new Canada Line rapid transit station that links the airport to the downtown core. The RISE helped to create Vancouver's third largest retail node by offering 212,000 square feet of retail space on the ground levels, anchored by Home Depot, Winners HomeSense, and Save-On-Foods. Above the retail levels are 92 live-work rental homes, including two-story View Lofts and Sky Flats, enhanced by a 20,000 square foot intensive green roof and community garden.

In selecting The RISE as an Awards for Excellence finalist, the judges noted The RISE's distinct features:
 Its rooftop live-work units maximize the use of the site and provide exceptional livability.
 Grosvenor has contributed one artist live-work unit for 15 years at a nominal rent.
 The project is a model of best practice for accommodating large-format retail on a mixed-use urban site.
 Its superior location and transit orientation allow parking ratios to be reduced.
 Green building design features result in the building using 31 percent less energy, 67 percent less water for irrigation, and 40 percent less water for domestic use.

ULI Awards for Excellence jury chairman Marilee A. Utter, president, Citiventure Associates, LLC, Denver, remarked: "These are great examples of success that showcase creativity, innovation, and long-term thinking. Perhaps now more than ever, the ULI Awards for Excellence program reminds us of the key difference that responsible land use development can make, in terms of longevity and overall community sustainability."

Grosvenor is a privately owned property group with offices in 17 of the world''s most dynamic cities. We have five regional investment & development businesses in Britain & Ireland, the Americas, Continental Europe, Australia and Asia Pacific. Our international fund management business operates across all these markets. As of December 31, 2008, these six businesses had total assets under management of USD$18.1 billion. Unusually for a private company, Grosvenor publishes a full Annual Report and Accounts, available at www.grosvenor.com.

The Urban Land Institute (www.uli.org) is a nonprofit education and research institute supported by its members. Its mission is to provide leadership in the responsible use of land and in creating and sustaining thriving communities worldwide. Established in 1936, the Institute has more than 40,000 members representing all aspects of land use and development disciplines.

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