323 Residences Holds Groundbreaking Ceremony

323 Residences held a groundbreaking ceremony to launch the start of construction on the 49-unit luxury condominium development to be built in Lake Tahoe, Nevada on Tramway Drive next to Heavenly Ski Resort.

Representatives from Behringer Harvard Funds, Genesis Real Estate Group, Gruene Construction and the 323 Sales Team were present for the ceremony. Construction is expected to be completed in late spring to early summer of 2008, with the Grand Opening of 323 Residences to occur soon thereafter.

About 323 Residences:
Located adjacent to Heavenly Ski Resort, 323 Residences is a full-ownership, luxury residential real estate property located in Lake Tahoe, Nevada that offers the convenience and security of a condominium residence with the comfort, style and luxury of a world-class, full-size vacation home. Designed by Aspen’s leading architect, Poss Architecture + Planning, 323 Residences will reflect a high-end mountain ambiance for the ideal luxury vacation and/or second home retreat. Standard condominium residences range in size from 1,800 square feet for two bedroom homes to over 3,200 square feet for 4 bedroom homes, with prices starting at $1.5 million. Four bedroom penthouse condominiums range in size from 3,800 square feet to over 6,000 square feet. Each of the 323 Residences will enjoy spectacular, unobstructed vistas of either Lake Tahoe or Carson Valley, with penthouse owners enjoying the luxurious views of both. Visit http://323tahoe.com or call us at 866-LAKE-323 (866-525-3323) for more information. You can also visit us at the 323 Residences Model and Discovery Center in Heavenly Village, Space 38, in South Lake Tahoe