FACT SHEET: RiverPlace by Ram

Description: RiverPlace by Ram is a luxury rental apartment community under construction on the waterfront in South Portland

Size: 136 rental apartments in four buildings on 11 acres

Location: On the Fore River, Portland Harbor, and Mill Cove in South Portland, Maine

Owner: RiverPlace Development, LLC, Howard A. Goldenbfarb, manager

Developer: Ram Management Co., Inc., Portland, Maine (Howard A. Goldenfarb, principal)

Cost: $17 million

Architect: O'Sullivan Architects, Lynnfield, Mass.

General Contractor: H.E. Callahan, Auburn, Maine

Availability: First 24 rental apartments available in May 2003; entire development completed by September 2003. Applications taken beginning in October 2002.

Site Cleanup: Ram has greatly improved the site ö formerly home to unsightly industrial buildings - by removing the buildings and recycling more than 9,000 tons of concrete and asphalt for use on the property and removing another 1,000 tons of steel for recycling and use by others. Ram obtained a TIF from the city of South Portland to reimburse for environmental clean up costs via tax credits over 10 years.

Features

RiverPlace will provide residents with expansive views of Portland Harbor and the Portland skyline and offer a number of unique features and amenities not available in other rental communities in Greater Portland.

All RiverPlace apartments will include:

á Individually controlled central air conditioning and gas heating systems
á Elevators in all buildings
á Spacious floor plans with private decks and patios
á Nine-foot ceilings
á In-home laundry with full size washer and dryer
á Well appointed kitchens featuring Whirlpool appliances including range, refrigerator, dishwasher, disposal, microwave oven
á High-speed Internet connections
á Gated access, covered parking and building security systems
á On-site professional management; 24-hour emergency maintenance service

RiverPlace residents will have access to the following amenities:

á On-site waterfront clubhouse with swimming pool and tennis court; a state-of-the-art fitness facility; resident business center including conference room, computer, and fax facilities; media room featuring wide screen HDTV and a surround sound system; barbecue areas; and a car wash area.
á Waterfront location with expansive views of Portland Harbor and the Portland skyline
á Easy access to shopping and entertainment; close to the Centerboard Yacht Club and Spring Point Marina

The Apartments

When completed, three of the buildings at RiverPlace will have four levels of apartments, and the fourth building will have a basement parking area and three levels of apartments. RiverPlace offers a variety of floor plans to satisfy needs and budgets. (Handicap accessible apartments also are available.)

á The Ketch
943 to 1,012 square feet, one bedroom, one bath, and den
á The Sloop
1,062 square feet, two bedrooms, two baths
á The Schooner
1,274 square feet, corner unit with two bedrooms with two baths
á The Windjammer
1,308 to 1,477 square feet, two bedrooms, two full baths, and den. Fireplaces available in some of these apartments.

Ram Management, in anticipation of high demand, will begin pre-leasing apartments in October 2002. Rental applications can be obtained by calling or writing:

Ram Management Co., Inc.
121 Middle Street, #200
Portland, ME 04101
207-774-1030

Applications also can be requested via the RiverPlace web site at: www.riverplacebyram.com
There will be a rental office at the site beginning March 1, 2003.

Directions

From I-295 take Exit 6A and follow Route 77 over the Casco Bay Bridge into South Portland. At the end of the bridge, take a left onto Broadway. Follow Broadway to the flashing yellow light at Mussey Street. Turn l">09on Mussey Street, and follow to RiverPlace Drive.