Developer of Hudson Landing in Kingston Wins the Prestigious ENERGY STAR 2012 Partner of the Year Award from

EPA
Company is One of Only Two Homebuilders in the Nation to Receive the Coveted New Home Builder Award
KINGSTON, NY (May 2012) – AVR Homebuilders, the developer of Hudson Landing, a planned sustainable mixed-use community on 500 acres on the Hudson River shoreline in Kingston, has been awarded top honors by the U.S. Environmental Protection Agency in Washington, D.C. for its commitment to protecting the environment and promoting the ENERGY STAR program. AVR Homebuilders was one of only two residential developers in the nation to be honored recently by the EPA as a 2012 ENERGY STAR Partner of the Year – New Home Builder. AVR, which is one of the region’s leading home building companies, was recognized by the EPA for its commitment to reduce greenhouse gas emissions through the construction of ENERGY STAR-certified homes. The prestigious national award was presented to the Yonkers, NY-based company at a ceremony held on March 15 in Washington, D.C. Hudson Landing, which is considered a linchpin in the revitalization of the City of Kingston, calls for the construction of approximately 1,750 units of housing that will include a variety of single-family homes, townhomes, condominiums, apartments, and live-work units with supporting retail space. Hudson Landing will be developed in a “Traditional Neighborhood” design featuring tree-lined streets,

attractive and diverse architecture, a bustling village green with shops and services -- and all within walking distance of a resident’s front door. Located on a former brickyards and quarry property, Hudson Landing will offer a mile-long Riverfront Promenade, over 350 acres of open space, gorgeous vistas of the Hudson River and mountains and a commitment to sustainable living through energy conservation, a reduced carbon footprint and ENERGY STAR-certified residences. For more information about Hudson Landing, visit www.hudsonlanding.com. An ENERGY STAR partner since 2006, AVR was honored by the EPA for its work in building energy-efficient new homes that meet ENERGY STAR guidelines. To date, AVR has built a total of 374 ENERGY STAR-certified homes in the New York metropolitan region. The 2012 Partner of the Year award winners were selected from approximately 20,000 organizations that participate in the ENERGY STAR program. AVR, which won in the New Home Builder category, joins a host of major national and international corporations recognized by the EPA for their participation in the ENERGY STAR program including PepsiCo, General Motors, Boeing, Toyota, Samsung Electronics, 3M, Sharp Electronics, Merck and Colgate-Palmolive. “As we celebrate the 20th anniversary of the ENERGY STAR program, EPA is proud to recognize AVR Homebuilders with the 2012 ENERGY STAR Partner of the Year Award for New Home Builders,” said EPA Administrator Lisa P. Jackson. “AVR Homebuilders and all our ENERGY STAR award winners are building an energy-efficient future for America’s families by developing ENERGY STAR-certified homes that reduce energy costs and protect the environment.” Mark Eickelbeck, Chief Operating Officer of AVR Homebuilders, said, “We are greatly honored to be recognized by the U.S. EPA as one of the nation’s leaders in the design and construction of energy-efficient homes. This award is a tremendous achievement for our company and is a testament to our ongoing commitment to building quality homes that are environmentally friendly and energy efficient.” He added, “AVR is proud to provide extra value to our customers by building energyefficient homes that earn the ENERGY STAR certification. Homes built to ENERGY STAR standards are more comfortable, plus they ensure long-term savings on energy bills while protecting the environment.” Mr. Eickelbeck noted that ENERGY STAR-certified homes use substantially less energy for heating, cooling, and water heating. Homeowners in ENERGY STARcertified homes can expect to save about $200-$400 annually on their utility bills.

Over the past 20 years, American families and businesses have saved nearly $230 billion on utility bills and prevented greenhouse gas emissions equal to those from more than 350 million vehicles with help from ENERGY STAR. The goals and objectives of the ENERGY STAR program are implemented throughout every phase of the design and construction of ENERGY STAR Homes built by AVR which include high-efficiency features that conventionally built homes don’t have. The home’s exterior shell is made as airtight as possible using advanced framing techniques, and a combination of spray foam, rigid and batt insulation. Energy-efficient windows and doors are installed, along with additional caulking and sealing of all the joints and seams. Each ENERGY STAR Home built by AVR features high-efficiency heating and cooling systems with their own fresh air supply from the exterior which makes a more efficient and healthier home. Other important features included in ENERGY STAR Homes built by AVR are whisper green bathroom fans in every unit to help the home breathe and ventilate to the outside, and a complete water management system to protect the roof, walls, and foundation from water damage. The home is completed with installation of the required ENERGY STAR-certified lighting and appliances. The final and crucial step in building an ENERGY STAR Home is an independent energy inspection conducted by a home energy rater certified by the EPA. When a home passes inspection, the results are printed on a familiar blue ENERGY STAR sticker that is presented to each homeowner. AVR was recognized by the EPA for working with a “Home Energy Rater” to provide technical training for construction staff and subcontractors to ensure that its staff understands ENERGY STAR construction methods and quality controls. The EPA also lauded AVR’s efforts in ensuring that its sales staff is well trained and fully versed on ENERGY STAR-certified homes. AVR sales personnel are trained to conduct hardhat tours of home models and to be able to point out the benefits of ENERGY STAR certified homes throughout the building process. AVR Homebuilders, which is a division of AVR Realty Company, LLC, currently has six active home development properties, all of which are located in the greater New York metropolitan area and will be built to ENERGY STAR standards. In addition to Hudson Landing, the communities include:  Overlook Pointe, featuring a total of 263 condominiums and townhomes on the Hudson River waterfront in West Fishkill, NY. www.overlookonthehudson.com

 Valeria, a planned 147-unit townhome community in the Westchester community of Cortlandt Manor, NY. www.valerialuxuryliving.com  Powell Cove Estates, a 202-unit condominium development being built on the East River waterfront in North College Point, Queens, NY. www.powellcoveestates.com  The Meadows at Yaphank, a mixed-use master planned sustainable community with 850 residential units on 300 acres on Long Island that will include a mix of residential, retail, office/flex space, restaurants, and hotel. www.meadowsatyaphank.com  Southampton Meadow Estates, a planned community of 48-single-family homes on 52 acres in Southampton, NY. www.southamptonmeadowsestates.com About AVR Realty For more than 45 years, AVR Realty has built a reputation for identifying intrinsic real estate value in a wide range of properties. To date, AVR has built, acquired, and developed more than 30 million square feet of commercial and residential space. AVR's portfolio includes office complexes, shopping centers, corporate and industrial properties, apartment complexes, residential communities and hotels. For more information, visit www.avrrealty.com About ENERGY STAR ENERGY STAR was introduced by the U.S. Environmental Protection Agency in 1992 as a voluntary market-based partnership to reduce greenhouse gas emissions through increased energy efficiency. Now celebrating its 20th anniversary, ENERGY STAR offers businesses and consumers energy-efficient solutions to save energy, money and help protect the environment for future generations. About 20,000 organizations are ENERGY STAR partners committed to improving the energy efficiency of products, homes, buildings and businesses. For more information about ENERGY STAR, visit www.energystar.gov or call toll-free 1888-STAR-YES (1-888-782-7937).

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