Washington DC: The Overlook at Oxon Run Re-Defines "Affordable Housing"

Apartment Pre-Leasing begins March 2009
WASHINGTON--(Business Wire)--
The Overlook at Oxon Run, formerly known as Parkside Terrace, has undergone an
amazing redevelopment, the result of a 100% interior and exterior
rehabilitation, and is positioned to be the pre-eminent affordable rental
community in Washington, D.C.

Located at 3700 9th Street SE, The Overlook has 316 one and two-bedroom
apartment homes that have been completely renovated. Targeted at
income-restricted families and senior citizens, The Overlook has apartment
features and community amenities that rival market-rate, luxury rental
communities.

"We believe the only difference between conventional and affordable rental
housing should be price," says John Noel, Senior Vice President of Edgewood
Management, the managing agent for The Overlook. "High-speed internet,
state-of-the-art kitchens and exercise facilities are just a few of the
offerings we feel should be standard features in a rental community regardless
of the resident profile."

"We are extremely excited and honored to be responsible for managing The
Overlook," says Noel. "This is a truly remarkable rental community. Our team is
ready to assist all who qualify and ensure that we will help them select their
perfect new apartment home."

The Overlook at Oxon Run is being developed by the Community Preservation
Development Corporation, a Washington, D.C.-based non-profit affordable housing
developer, (cpdc.org), with federal low-income housing tax credits (LIHTC)
provided by the District of Columbia Housing Finance Authority (dchfa.org) and
in conjunction with the District of Columbia Housing Authority (dcha.org).

Leasing information can be obtained at the on-site leasing office, or by calling
202-373-1900, or at www.theoverlookdc.com

Edgewood Management Corporation
John Noel
Senior Vice-President
301-562-1775
jnoel@emcmgmt.com

Copyright Business Wire 2009