Cambridge, MA. – Forest City Enterprises, Inc., a national real estate developer, today announced that University Park at MIT, the company’s 2.3-million-square-foot, mixed-use biotech park has been named a finalist for the Urban Land Institute’s (ULI) 2004 Awards of Excellence. The winners will be announced at an awards gala held by ULI on Thursday, November 4, 2004 in New York City.

“We are honored to be considered for this prestigious award that will recognize our twenty years of dedication and hard work resulting in the completion of a dramatic urban revitalization,” said Gayle Farris, President of Forest City’s Boston office. “Forest City is extremely proud to have transformed a barren industrial site into an around-the-clock, live-and-work community. Today, University Park is home to cutting-edge bioscience companies, comfortable apartments and a four-diamond rated hotel. It truly represents the ideal urban community, combining the benefits of neighborhood life with the convenience of urban living.”

Located on more than 27 acres in the heart of the biotech cluster in Cambridge, Mass., University Park at MIT is a master-planned, 2.3-million-square-foot, mixed-use development that includes ten state-of-the-art bioscience research and office buildings; five residential complexes; a 210-room hotel and conference center; restaurant and retail space; and structured parking for 2,700 cars in three shared-use garages. University Park has made a significant positive contribution to Cambridge’s economy, both in terms of construction, the 4,000 jobs generated by the development, as well as the more than $11 million contributed annually to the Cambridge tax base.