Waterford Development NC’s Corbin Crossing Community Wins Statewide Award

Regional Developer’s New Project in Hillsborough Earns STARS

(RALEIGH, NC September 17, 2007) —Waterford Development NC, a full-service real estate company with developments in Virginia, Maryland and North Carolina, won a First Place Award for Marketing Campaign Excellence from the NC Homebuilders Association at the 2007 Annual STARS Awards Gala on September 13 in Charlotte.

The award recognized Waterford Development for Best Special Project for a Developer for Corbin Crossing, Waterford’s newest North Carolina community. The winning marketing package included a custom-designed Builder Book, a “Save the Date” event postcard, a boxed invitation that included a pair of binoculars, a reminder to RSVP postcard, images of community signage, community advertising and community logo. The Corbin Crossing marketing campaign package was created for luxury home builders by Waterford Development and its agency, The King Partnership, to generate interest and provide information on Corbin Crossing. Corbin Crossing was recently unveiled to estate home builders at Raleigh’s renowned Angus Barn restaurant following the “teaser” marketing campaign to create heightened awareness and anticipation of the community. Corbin Crossing features 39, 10+ acre estate homesites in Hillsborough.

“We are pleased to be recognized by the North Carolina Homebuilders Association for the rollout of this exciting project,” said Jan A. Zachariasse, president and chief executive officer of Waterford Development Corp. “Because the Corbin Crossing community is so unique, we wanted to create a marketing campaign that would generate interest, create excitement and convey the special nature of this property. It’s wonderful to be recognized by our peers for those efforts.”

The STARS Awards are an annual competition sponsored by the North Carolina Homebuilders Association. This year’s Awards Gala was held at the Westin Hotel in Charlotte. Categories include best brochure, direct mail and newsletter, logo, advertisement, website, sales office, landscape design, interior merchandising, architecture/floor plan and community of the year. The awards recognize the talents and achievements of builders, developers, associates, sales and marketing professionals, interior merchandisers, landscape architects, advertising and public relations firms, web developers and others in the home building industry. Winners are chosen by a selection committee comprised of members of the North Carolina Homebuilders Association.

Founded in 1989 and headquartered in Reston Virginia, Waterford Development has completed many award-winning residential and mixed use communities in the Washington DC metropolitan area as well as the development of “Class A” office and retail projects.

In North Carolina, Waterford was involved in the Sutton Place and Glenkirk projects and most recently developed Stonewater, a 310 acre mixed use project with residential and commercial components, in northwest Cary.

The King Partnership is a full-service marketing communications, advertising, public relations agency specializing in marketing real estate and retail products. TKP is based in Raleigh, NC.

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About Waterford Development
Waterford Development is a full-service real estate development company headquartered in Reston, Virginia, with an office in Raleigh, North Carolina. Over the past 18 years, Waterford Development has developed thousands of acres of land and completed numerous unique residential communities as well as innovative office and retail spaces. Recent award-winning developments include Belmont Greene, Symphony Village, The Broadway, and The Palladium. For more information, visit www.waterforddevelopmentllc.com.

About The King Partnership
The King Partnership is a full-service marketing communications agency specializing in real estate and retail marketing. Founded in 1986, The King Partnership offers a variety of marketing, communications services, including branding, strategic real estate consulting, marketing, graphic design, public relations, media buying, direct mail, radio and TV production. Located at 1210 Trinity Road in Raleigh, TKP offers a unique entrepreneurial “Run It Like You Own It” approach to business. For additional information visit the King Partnership online at www.thekingpartnership.com.