40 Park Named Best Mid-Rise Condominium Community Of 2010 By The National Association Of Home Builders

Morristown Condo Only NJ Property to Win a Builder Award. End Quote

New York, NY (1888PressRelease) January 05, 2011 - 40 Park capped an award-winning year with yet another prestigious accolade, this time on a national stage. The luxury condominium community in downtown Morristown, NJ recently received a 2010 Pillars of the Industry Award for its recognition as the "Best Mid-Rise Condominium Community" in the nation.

Sponsored by the National Association of Home Builders (NAHB), the Pillars of the Industry Awards program honors the year's most superior work and achievements in the multifamily industry and is considered a showcase of future trends and innovation.

This year's competition attracted nearly 300 entries from across the country, with winners chosen by a panel of judges with expertise in multifamily development and design. 40 Park was the only development in New Jersey to win a builder award.

"We are extremely pleased to accept this prestigious award from the National Association of Home Builders and from our peers in the industry," said Debra Tantleff, Vice President of Development for Roseland Property Company, which developed 40 Park in joint venture with Woodmont Properties.

"40 Park is a remarkable mixed-use development that is not only helping to change the way people live here, but is also at the forefront of revitalizing this historic downtown location with the integration of new residences and street-level retail space near mass-transportation. It's a livable, walkable neighborhood that offers a high quality of life for residents, and we're thrilled to have it recognized on a national level."

The Pillars of the Industry Award from the National Association of Home Builders caps a year of several awards and honors for 40 Park. In July, the Community Builders and Remodelers Association of New Jersey presented 40 Park with six awards, including the prestigious "Community of the Year" designation. In April, 40 Park was honored with three prominent laurels at the 2010 Sales and Marketing Awards sponsored by the New Jersey Builders Association.

40 Park is a distinctive seven-story building overlooking the famed Morristown Green that features 76 luxury condominium residences and upscale amenities and services atop 70,000 square-feet of street-level retail space, known as The Shops on the Green. The mixed-use development is part of a $300 million redevelopment effort underway by Roseland Property Company and Woodmont Properties that has reshaped and revitalized the historic downtown. For more information, visit www.40park.com.

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