PRESS RELEASE / ANNOUNCEMENTS Tuesday, October 25, 2011

Towbes Developed Apartment Community Receives National Accolade

Ralston Courtyards, a luxury multi-family rental apartment community in Ventura developed by The Towbes Group, was named the Best New Garden Development in the United States by Multi Housing News (MHN).

The MHN Excellence Awards recognize outstanding people, companies and properties throughout the industry and the contributions they have made to the multi-housing sector in recent years, said Erika Schnitzer, MHN Managing Editor. The Towbes Group went above and beyond the basics to realize success with innovative, though not necessarily costly, approaches that will prove to be tried and true in the years to come.

2010, Ralston Courtyard features 108 one- and two-bedroom apartment units situated among 10,000 square feet of interconnected courtyards and outdoor common areas. Ralston Courtyards also includes a clubhouse with an outdoor pool and spa, picnic area, fitness center and is the first residential community in the Tri Counties to feature commercial electric vehicle charging stations. The panel of judges singled out Towbes for its efficient use of the land area in creating a quiet retreat in an urban setting.

The connection between the multi-functional courtyards allows the residents to walk freely and interact with their neighbors, according to the judges. This is a very friendly housing community that is compatible with the neighborhood fabric.

Courtney Seeple, vice president of The Towbes Group stated the community met consumer preferences as projected, which lead to the fastest lease up of any Towbes project.

Joining The Towbes Group on the award-winning development team were CSA Architects and landscape architects Arcadia Studios, both from Santa Barbara, and engineering firm Jensen Design & Survey from Ventura.

This is the second national award for Ralston Courtyards. Earlier this year, the Ventura apartment community received a Gold Nugget Award of Merit in the category of Infill, Re-development or Rehab Site Plan (Five Acres or Less) by the Pacific Coast Builders Conference. The Gold Nuggets recognize builder excellence and creative achievement in architectural design and land use planning for residential, commercial and industrial projects throughout the 14 Western States.

Ralston Courtyards was developed on the last parcel of land of a former orchard. Completed in December 2010, the award-winning community hit 98 percent occupancy in less than seven months. Towbes previously built a 268-unit market rate rental community and a 104-unit low income senior’s community on the balance of the property.

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