Crescent - Portfolio - Residential Development Portfolio

Residential Development Portfolio
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*as of June 18, 2008
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	7	248	77
Northstar Highlands	Lake Tahoe, CA	CO,TH,TS, ACR	13	1,376.8	1,198
Old Greenwood Units	Lake Tahoe, CA	TH	5	19	38
Old Greenwood Fractional Units	Lake Tahoe, CA	TS	8	146	96.42
Gray's Crossing Lots	Lake Tahoe, CA	SF	4	376	82
Gray's Crossing Units	Lake Tahoe, CA	CO	4	7	7

Denver Development
Creekside Townhomes at Riverfront Park	Denver, CO	TH	0	23	0
The Delgany	Denver, CO	CO	0	42	0
One Riverfront	Denver, CO	CO	1	50	12
The Park at One Riverfront	Denver, CO	CO, TH	2	18	7
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	53
Main Street Station Vacation Club	Breckenridge, CO	TS	2	42	9.98
Riverbend	Charlotte, NC	SF	3	659	141
Three Peaks	Silverthorne, CO	SF	0	325	0
Village Walk	Beaver Creek, CO	TH	0	26	0
The Residences at Park-Hyatt Beaver Creek	Beaver Creek, CO	TS	1	15	4.4
Beaver Creek Landing	Beaver Creek, CO	CO	0	52	0
Riverfront Village	Beaver Creek, CO	CO, TH	3	311	175
Manor Vail	Vail, CO	CO	1	17	9
Waterhouse	Breckenridge, CO	CO	3	55	55

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	1	170	38
*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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