AMLI Residential Breaks Ground on Apartment Community in Houston

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AMLI Residential Breaks Ground on Apartment Community in Houston

    CHICAGO, May 22 /PRNewswire/ -- AMLI Residential (NYSE: AML) announces
that it has broken ground on AMLI at Kings Harbor in the Kingwood development
in Houston, Texas.  The new community will be comprised of 300 apartment homes
set on a 15-acre site on the waterfront of Lake Houston.  The total cost of
development will be approximately $19.4 million.
    AMLI at Kings Harbor will contain 286,014 rentable square feet in
14 buildings, with 180 (60%) one-bedroom and 120 (40%) two-bedroom apartment
homes.  The apartment homes will average 953 square feet in size.  The first
apartment homes are expected to be available for occupancy in the first
quarter of 2001 with final construction and stabilization scheduled for the
fourth quarter of 2001.
    "We are pleased to be developing our first community in Houston," stated
Philip Tague, AMLI Executive Vice President.  "The Kingwood development is a
unique market that we feel will be very appealing to our residents.  This
location offers upscale residential amenities that include hike and bike
trails, highly-acclaimed golf courses, lake access, excellent schools and
quality retail."  AMLI's Houston portfolio currently includes four apartment
communities containing 1,173 apartment homes.
    The AMLI(R) portfolio currently includes 57 apartment communities
containing 22,245 apartment homes, with an additional 4,134 apartment homes
under development or in lease-up in 14 locations.  AMLI Residential is focused
on the development, acquisition and management of institutional quality
multifamily communities in the Southeast, Southwest and Midwest areas of the
U.S.  AMLI Residential also serves as institutional advisor and asset manager
for large pension funds, tax-exempt foundations and other financial
institutions with respect to their multifamily investment activities.  AMLI
employs approximately 800 people who are dedicated to achieving AMLI's
mission -- Provide An Outstanding Living Environment For Our Residents.
    AMLI press releases and other company information are available at AMLI's
web site located at http://www.amli.com .

SOURCE AMLI Residential

http://www.amli.com
Company News On-Call:

http://www.prnewswire.com/comp/116726.html or fax,
800-758-5804, ext. 116726
CONTACT:
Philip N. Tague, Executive Vice President of
AMLI Residential, 770-281-3311