FORMATION DEVELOPMENT GROUP BREAKS GROUND ON THE SIENNA AT CINCO RANCH

KATY, TEXAS — Formation Development Group has broken ground on The Sienna at Cinco Ranch, a luxury senior living project in the Cinco Ranch master-planned community in Katy. The development, which will be complete in the third quarter of 2009, will offer 126 independent living and 32 assisted living rental apartments. The Sienna at Cinco Ranch will feature amenities such as concierge services, multiple dining venues, a wine bar and a terrace club activities room. The project is located at 24001 Cinco Village Center Blvd. next to LaCenterra, a new Main Street-style retail center in Cinco Ranch. Spawglass Construction Corp. of Houston is the general contractor for the project, and architectural services are being provided by Three Architecture of Dallas. The Sienna will be managed by The Arbor Company. Guaranty Bank is providing project debt financing.