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News Release

For Immediate Release

Contact: Anne Monson, APR, 505-244-8479 Melanie J. Majors, APR, 505-266-5637

MESA DEL SOL WATER TANK TO BE HOISTED IN PLACE

Art Features Native White Oak Leaves

Albuquerque, NM – June 12, 2008 – Mesa del Sol – When crews finish lifting the water tank to the top of the tower at Mesa del Sol this week, the community will have a 175-foot landmark that is unique and incorporates the city’s native surroundings. Crews hoisted the tank on to the tower on June 12, 2008.

The water tower has a 46-foot diameter base and was built using 1,800 cubic yards of concrete. It has a total capacity of 2 million gallons of water. Built at a cost of $3.6 million, Mesa del Sol officials will dedicate the structure to the Albuquerque Bernalillo County Water Utility Authority.

Hoisting the tank is a delicate procedure requiring optimum weather conditions and specialized equipment. A hoist weighing more than 190 tons, a seven strand post-tension cable .58 in diameter and a series of jacks will be used. It is expected to take approximately six to eight hours to complete the hoisting process. The team selected the hoisting method of placement because constructing the tank on the ground allows for a more symmetrical tank versus building the tank “in the air.” Hoisting is also much safer for all workers involved and the quality of the artwork is better as the paint can be applied while the tank is on the ground.

“The water tower artwork is inspired by leaves of the white oak or 'albus quercus',” said Amy Coburn, Mesa del Sol director of residential development. “Via large-scale, colorful oak leaves, the water tower is transformed from looming public utility into an unexpected art experience.”

Artist Lisa DeJohn created the tank design after visiting the area, including a trip to Petroglyph Park, talking with Mesa del Sol’s landscape designer and researching the area’s native vegetation. She said she envisioned, “the tower as a white oak tree.”

“I tried to incorporate all of my impressions in the design and when the landscape designer told me that Albuquerque translated to white oak tree, I incorporated the white oak leaf in my abstract design,” she said.

DeJohn has designed gift boxes for Fossil and Chronicle Books and bedding for Land of Nod, a division of Crate and Barrel, but admits “this is my biggest design, I have never done anything on this scale before and I can’t wait to see it in person.”

Albuquerque firm, Brasher and Lorenz, Inc., is the project manager for construction and placement with Martin Brown, project manager. Bohannan Huston, Inc. is managing the day-to-day construction with David Hibbler the project manager. Landmark Structures of Fort Worth Texas is the design build contractor.

Work on the tank was started on September 17, 2007 and is scheduled for completion on September 15, 2008. When full, the tank will weigh 29 million pounds, 17 million pounds of which is water.

About Mesa del Sol

Mesa del Sol is a 12,900-acre mixed-use district located on Albuquerque’s south mesa. By combining job creation and sustainable urban community planning, Mesa del Sol will reflect a balance of environmental resources, economic objectives and social amenities in a community that is forward-looking with a highly defined sense of place. www.mesadelsonm.com.

Mesa del Sol is a true public/private partnership. In addition to FC Covington Manager, OOC, Mesa del Sol is being developed in conjunction with other partners, including the New Mexico State Land Office, the University of New Mexico, with the support of the City of Albuquerque, Bernalillo County and the State of New Mexico.

About FC Covington Manager, LLC

FC Covington Manager, LLC, is a joint venture between Forest City NM. LLC and Covington NM, LLC. Forest City NM, LLC is a subsidiary of Forest City Enterprises, Inc., a $10.5 billion NYSE-listed national real estate company. The Company is principally engaged in the ownership, development, management and acquisition of commercial and residential real estate and land throughout the United States. Covington NM, LLC is an affiliate company of Covington Capital Corporate, a major real estate development and investment company. Covington Capital and its affiliate companies currently own more than 13 million square feet of commercial/industrial space and are actively developing more than 17,000 acres of land in the western United States.