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1315 EAST CONDOMINIUM PREMIERES WITH OUTDOOR JAZZ RECEPTION
U2 Tickets, Restaurant Giveaways Mark Urban Condo Conversion in Historic Dilworth

Charlotte, NC – November 11, 2005 – Grubb Properties, the local real estate firm behind the 24-acre mixed-use Morrison neighborhood in SouthPark and the revitalization of six blocks along historic Elizabeth Avenue near Uptown, last night hosted an outdoor live jazz Premiere to launch Phase 1 sales for 1315 East Condominium, its upscale condo conversion on East Boulevard in the heart of Dilworth.

Attendees were able to tour designer model homes, meet with 1315 East representatives, enjoy al fresco wining and dining in the property’s waterfall-enhanced outdoor courtyard, arrange follow-up sales appointments, and win an assortment of “door prizes” – ranging from dinner reservations at a number of Dilworth’s top restaurants to tickets for U2’s Vertigo Tour concert coming to the Bobcats Arena next month.

1315 East, in the landmark Latta Pavilion development, offers 162 condominium flats in a combination of studio, one-bedroom and two-bedroom floorplans. Prices range from the $160s to the $420s with most homes selling in the $100s and $200s. Many floorplans overlook a stunning two-level landscaped courtyard with waterfall – site of last night’s Premiere – while some feature expansive views of the Uptown skyline.

According to Grubb Properties, pre-launch sales – including purchase decisions by current renters – have already exceeded expectations. Over ten percent of homes in the project were quickly sold to rental residents during their 30-day right of first refusal period.

“We’re very pleased by the pace of pre-launch sales, and especially by the conversion ratio thus far,” Brannon Gilliam, director of residential sales for Grubb, said. “Our renters have told us for years that they’d love to own here, and this type of response is substantially above what we’ve observed either here in Charlotte or around the country.”

Sales are being handled on-site in a street level office on East Boulevard, adjacent to Patou Bistro, the longtime Dilworth restaurant that recently relocated to Latta Pavilion’s prime corner space across from both Starbucks and Brixx.

Gilliam noted that a few Phase 1 buyers may be able to close and move in by the end of the year – most, however, will likely be scheduled for closings in January and February 2006 based upon lease expiration schedules.

Additional information is available by:

Ø Visiting the 1315 East sales office at Sterling Dilworth: 1315 East Boulevard, Suite 120

Ø Calling the 1315 East sales office at 704.376.8878

Ø Emailing for more information at info@1315east.com

Ø Visiting the Web site at www.1315east.com

Posted: December 05, 2005 - News | More News