Mercer Among Winners in National Multifamily Housing Industry Award Competition

SAN MATEO, Calif., Dec. 16, 2010 /PRNewswire/ -- The National Association of Home Builders [NAHB] recognized Mercer among the top trend-setters in the multifamily housing industry, as part of its annual Pillars of the Industry Awards program promoting excellence in apartment design, development, management, and marketing.

This year's winners are showcased virtually with NAHB Multifamily's new venue for the Pillars Awards – the Internet. An interactive presentation at this link – www.nahb.org/pillarsawards shows Mercer and other innovative multifamily communities to viewers all over the country.

"Creativity in design and a clear understanding of the entrants' local markets characterized this year's entries," said Charles R. Brindell, Jr., CEO of Mill Creek Residential Trust, LLC, and chair of NAHB's Multifamily Leadership Board. "The results are outstanding apartments and condos that their residents will take pride in for years to come."

Winners were selected for superior achievement in 27 categories, including Best Garden/Small Scale Condo. Mercer was chosen on the basis of

1. Unparalleled location in the heart of downtown Walnut Creek within walking distance of shopping, entertainment, restaurants and public transit.  
2. Architectural style which blends the finest of materials to produce the finest product in the Bay Area.  
3. Sales of condominiums averaged 12 per month ranging from $500k for the smaller floor plans to $1.4M for the largest floor plans.  

Hundreds of entries—representing apartment and condo communities from across the country—vied for this year's awards, which are considered among the most prestigious in the housing industry.

"All of us at Prometheus are honored to receive this fantastic award for developing the first large scale mixed use property in the City of Walnut Creek," said Jon Moss, the executive vice president of development. "We would like to thank the City of Walnut Creek and our architects for their vision in creating this wonderful new housing community."

Prometheus is the largest private owner of multi-family properties in the San Francisco Bay Area. The firm's portfolio is comprised of award-winning properties in the best locations throughout the Western United States.

ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 175,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 800 state and local home builders associations around the country. NAHB's builder members will construct about 80 percent of the new housing units projected for 2010.

SOURCE Prometheus Real Estate Group