Plans come to light for League City’s Lighthouse Island
Developer reveals new name and vision

LEAGUE CITY, TX (May 15, 2007) – Officials with The Verandah Companies (Verandah), an integrated real estate firm specializing in luxury communities, today announced that the parcel of land in League City formerly known as Lighthouse Island has been officially renamed Beacon Island.

In December 2006, Verandah and Crow Holdings jointly purchased the 35-acre island on Clear Lake adjacent to the South Shore Harbour Marina. Verandah is in the process of developing the land into a gated island community that will be comprised of high-rise and mid-rise condominiums, clusters of townhomes and premium waterfront estate homes. The unique coastal village will feature a mix of up to 800 luxury primary residences, distinctive Southern architectural design elements, marina waterfront lifestyle, and a walkable environment with spacious streetscape and a waterfront promenade.

Ziegler Cooper Architects is under contract to develop strict architectural design standards that build on the charm of the southern regions of Georgia and the Carolinas. TBG Partners is the land planner and landscape architect for the project.

“We wanted to create a new look for this exclusive southern coastal community,” said Robert Stratton, a founding principal of Verandah. “The Houston and Galveston markets are saturated with Mediterranean and Victorian architectural designs, respectively. Beacon Island will draw off the romance of the South with lush landscaping, deep porches, balconies and decorative iron accents.”

Although no longer part of the official name, the signature landmark lighthouse will continue to serve as a visual focal point of the community.

“While the word beacon is synonymous with lighthouse, beacon also means something that inspires or illuminates,” said Nancy Pointer, a founding principal of Verandah. “Our vision is that Beacon Island will become the shining gem along the shores of Clear Lake – a destination that inspires all to experience the beauty and charm of Southern coastal living.”

Infrastructure work on Beacon Island is currently underway, with construction of the bulkhead, promenade, utilities and streets to be completed by the end of 2007. The first residences are expected to be available for sale/construction as early as December 2007.

Beacon Island is located at the culmination of Lighthouse Boulevard in League City. For more information, visit www.beacon-island.com.

About Verandah
Headquartered in Houston, The Verandah Companies is an integrated real estate firm specializing in the development, construction and management of residential communities with experience in multi-product communities, upscale single-family subdivisions, luxury townhome and apartment home communities. Founded in 1996, Verandah’s properties are located in Austin and Houston with a combined value of more than $260 million. For more information, visit www.verandah.net.

About Crow Holdings
Crow Holdings is a privately-held firm based in Dallas that specializes in making real estate investments on behalf of the Trammell Crow family and its investment partners. The firm directs investments and personal financial interests of the Trammell Crow family across multiple asset classes. For more information, visit www.crowholdings.com.