PRESS ROOM

The Power Center at Southlands is Now Open for Business

Aurora, CO – October 21, 2005 – Starting this weekend the shopping can begin! Alberta Development Partners, LLC is inviting the public to celebrate the grand opening of the second phase of Southlands from 10 a.m. – 2 p.m. on Saturday, October 22.

KYGO-FM (98.5) will be broadcasting live. There will also be chances to win gift certificates to the exciting new retailers, a chance to win iPods, a free tank of gas and other great prizes. Kids decked out in Halloween costumes can participate in the trick or treat extravaganza. Del Taco, Bennett’s Bar-B-Que and Cold Stone Creamery will be providing food for the celebration.

“With the grand opening of the Power Center, shoppers can take advantage of the convenient location of Southlands and having major retailers in the neighborhood,” said Don Provost, principal of Alberta Development. “Given the rapid growth in the southeast region, Southlands serves thousands of consumers and their needs for a major shopping center that’s nearby with a comfortable, charming atmosphere for shopping, dining and entertainment.”

The Power Center at Southlands totals 350,000 square feet. With this grand opening, Southlands is now 50 percent complete with 650,000 square feet of Main Street retail and office space under construction and scheduled to open Fall of 2006. Bed Bath & Beyond, Ross, Babies R Us, Off Broadway Shoes, Old Navy, Pier One, Party America, Famous Footwear, Dress Barn and Petco are now open. Cost Plus will be open the first week of November with Simply Artrageous opening in the coming weeks.

Spanning across 301 acres, Southlands is a 1.7 million-square-foot mixed-use retail destination that includes elements of a lifestyle entertainment town center and a super regional power center, featuring some of today’s most popular shopping attractions.

Upon completion, the development, at the intersection of E-470 and Smoky Hill Road, will be a valuable economic engine for Aurora and the southeast metro area. The City of Aurora has estimated that Southlands will generate approximately $10 to 12 million in sales tax revenue for the city based on more than $525 million in taxable sales at the center, and will create 4,000 to 5,000 new part- and full-time jobs with an estimated annual payroll of $80 million.

About Alberta Development Partners, LLC
Alberta Development Partners, LLC is engaged in the acquisition, development and investment of retail real estate throughout the Front Range of Colorado, focusing on regional retail shopping centers and mixed-use commercial projects. The company has completed in excess of 220 projects with more than 4 million square feet of retail space with a completed value of $1.5 billion. Alberta’s experience encompasses projects for office, retail and residential communities.