Local Workforce Contributes To Construction Progress At Wesley Grove At Asbury Park

Project Brings Economic Benefits to Businesses, Individuals and City Residents

ASBURY PARK, N.J., Aug. 11, 2006 – Westminster Communities, developer of the luxurious new Wesley Grove at Asbury Park residential community, will be hosting a “Sandy Foot and Trolley Tour” on Sunday, Aug. 27, from 1 p.m to 4 p.m.

Starting at the Wesley Grove Sales Center, located at 600 Cookman Avenue in downtown Asbury Park, the tour will take visitors by trolley through the tree-lined streets and alongside the shimmering lake to this beautiful new community now emerging in the historic City by the Sea. The tour will also include a walk-through construction preview of the new homes and provide potential buyers with the opportunity to meet with a Wells Fargo Mortgage Professional to discuss today’s most attractive mortgage programs.

When completed, Wesley Grove at Asbury Park will encompass approximately 750 homes and 35,000 square feet of retail space in a pedestrian-friendly neighborhood of Victorian homes and turn-of-the-century architecture, with spectacular water views and a prime location within walking distance of the downtown and the boardwalk.

The first residential complex, The St. James, consisting of 30 townhomes and 61 duplex and condominium units, is nearing completion. Most of the units have already been sold, and the first occupants are expected to move in by early fall 2006. Finished in brick, stucco and glass, The St. James steps down from four stories at its front along Cookman Avenue to two stories along Lake Avenue. The townhomes offer approximately 2,200 to 2,400 square feet of living and entertaining space, which includes spacious loft and rooftop terrace areas. The condominiums and duplexes average more than 1,800 square feet, some with walkout balconies and roof terraces.

Westminster Communities has also received planning approval for 55 additional units in the project’s Phase I and is currently working on the design and approval process for 300 units in Phase II across the street. This Phase II construction will step down from eight stories to four and include penthouses with spectacular water views. In addition, it will also feature a separate structure housing a state-of-the-art health club with swimming pool.