For Immediate Release

Contact: Andrea Dennis
SMITH
Tel: 941.448.8249
adennis@smithadv.com

Demolition Begins on Future Site of Sarasota County’s Highly Anticipated Mixed-Use Development

Osprey, Fla. (May 4, 2006) -- Demolition has begun on the future site of Bay Street Village & Towncenter and Bay Street Residences, Sarasota County’s highly anticipated mixed-use development.

Included in the demolition are existing structures in the area to the East of Tamiami Trail, South of Bay Street and West of Old Venice Road, including the Auction House at 49 South Tamiami Trail and the clubhouses for the Tri-State Mobile Home Park at 24 East Bay Street.

“This demolition is the first step toward the realization of a historical project, as it will launch the unique ‘live, work, play’ concept in Sarasota County,” says Randy Moore of Crossgate Partners.

“We are extremely excited to join with Crossgate Partners and End Vision Development Group in a joint effort to develop and build the mixed-use community of Bay Street Village & Towncenter,” said Mike Miller, President of the Waterford Companies. “Combining the expertise of each group involved will prove to be beneficial to future residents and commercial/retail vendors within this unique environment.”

The complete demolition process will take approximately eight to 10 days, and a groundbreaking ceremony will then be scheduled to kick off the onset of construction for both Bay Street Village & Towncenter and Bay Street Residences.

Bay Street Village & Towncenter is Sarasota County’s newest ‘pedestrian’ community with opportunities for living, shopping, working, and civic and cultural activities within the 45-acre mixed-use development. Residential plans include 69 villas in Bay Street Village Residences, as well as the bordering Bay Street Residences, which will offer 500 condominium residences under development by Waterford Companies, a Venice-area developer. In addition, Bay Street Village & Towncenter will offer 60,000 square feet of retail and restaurant space, 56,000 square feet of commercial offerings and a “Village Green” designated as a community area for public gatherings, small festivals and other outdoor events. A 25,000 square-foot public library will also be developed adjacent to the Village Green.

The community combines the expertise of Crossgate Partners in identifying superior development locations along Florida’s coastlines with EndVision Development Group’s fortè in resourceful conceptualization and implementation of commercial, residential and mixed-use developments with a focus on enhancing the surrounding community.

For further information on Bay Street Village & Towncenter, please contact the sales office at 941-966-9188 or visit www.baystreetvillage.com. For more information about the demolition, contact Andrea Dennis at 941-448-8249.

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