Crescent - Portfolio - Residential Development Portfolio

Residential Development Portfolio
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*as of August 6, 2007
Corporation/Project	Location	Product Type	Number of Years Until Sellout	Planned Sales Lots/Units/ Acres	Remaining Lots/Units/ Acres

Desert Mountain Development Corporation
Desert Mountain	Scottsdale, AZ	SF,SH,TH	3	2,491	69

Crescent Resort Development Inc.
Tahoe Mountain Resorts
Northstar Village	Lake Tahoe, CA	CO,TH, TS	8	248	199
Northstar Highlands	Lake Tahoe, CA	CO,TH,TS, ACR	13	1,376.8	1,372
Old Greenwood Units	Lake Tahoe, CA	TH	2	19	4
Old Greenwood Fractional Units	Lake Tahoe, CA	TS	7	146	99.48
Gray's Crossing Lots	Lake Tahoe, CA	SF	1	377	111
Gray's Crossing Units	Lake Tahoe, CA	CO	2	170	170

Denver Development
Creekside Townhomes at Riverfront Park	Denver, CO	TH	0	23	2
The Delgany	Denver, CO	CO	0	42	2
One Riverfront	Denver, CO	CO	1	50	27
The Park at One Riverfront	Denver, CO	CO, TH	2	18	18
Identified Future Projects	Denver, CO	CO,TH	4	310	310
Downtown Acreage	Denver, CO	ACR	2	6.76	5.76

Mountain and Other Development
Eagle Ranch	Eagle, CO	SF	1	1,398	121
Main Street Station Vacation Club	Breckenridge, CO	TS	2	42	10.47
Riverbend	Charlotte, NC	SF	3	659	156
Three Peaks	Silverthorne, CO	SF	0	325	2
Village Walk	Beaver Creek, CO	TH	0	26	10
The Residences at Park-Hyatt Beaver Creek	Beaver Creek, CO	TS	1	15	6.15
Beaver Creek Landing	Beaver Creek, CO	CO	0	52	26
Riverfront Village	Beaver Creek, CO	CO, TH	3	311	311
Manor Vail	Vail, CO	CO	1	17	17
Identified Future Projects	Colorado	CO	2	64	64

Houston Area Development Corp.
Spring Lakes	Houston, TX	SF	0	497	10

Crescent Plaza Residential
The Residences at the Ritz-Carlton	Dallas, TX	CO,TH	2	170	170
*SF(Single-Family Lot);CO(Condominium);TH(Thownhome);TS(Timeshare Equivalent Unit);ACR(Acreage);SH(Single-Family Home);and B(Both Primary and Secondary Residence)

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