FOR IMMEDIATE RELEASE
August 21, 2007

Media Contact:
Ann Wills, Keating Magee
504.299.7168 / 504.494.3810-c
awills@keatingmagee.com

TRAÇAGE DEVELOPMENT TEAM COMMITTED TO REBUILDING THE “NEW” NEW ORLEANS

Developer Marks Second Anniversary of Hurricane Katrina with the City’s First Major Condo Development

NEW ORLEANS – As the second anniversary of Hurricane Katrina approaches on August 29, 2007, the real estate market in New Orleans continues its steady rebound with buyers from around the country seeking opportunities to own new condominiums, not only as a means of providing the City tax revenues, but also as a way of helping to rebuild one of the crown jewel cities of the South.

WHO’S DEVELOPING THE “NEW” NEW ORLEANS?

Among the developers choosing to invest in the city is Traçage Development, LLC, a joint venture between Spectrum Capital out of Jackson, MS and Isis Development Group, LLC, based in New Orleans, LA. But this is no ordinary partnership. This group of 30-something local and regional businessmen--Jason Voyles, Stephen King, Rob Tatum, Anthony “TJ” Iarocci and Daniel Jussely-- are representative of the energy and passion that young professionals are bringing to New Orleans.

But young does not mean unproven. The group brings a wealth of knowledge to Traçage with experience developing numerous large multi-million dollar projects located along the Gulf Coast and southeastern part of the country. Their extensive portfolio includes the development of over 2,500 condominium units either underway or already complete as well as condo conversion projects, retail entertainment destinations and luxury apartment developments.

WHY BUILD NOW?

Pre-Katrina, the Warehouse Arts District (a revitalized area between the Garden District and the Central Business District) was home to a variety of projects including structures built and converted specifically for the Louisiana World’s Fair in 1984 and more recently, smaller condominium properties and hotels that mixed new construction with existing structures.

Traçage will be the first modern high-rise residence, post-Katrina, to live side-by-side with its historic neighbors. The $60+ million project will provide tax revenue to the City during its construction phase as well as offer permanent employment for many more New Orleanians upon completion.

“Since Katrina, there has been a great deal of talk and very little action on the condo front in New Orleans,” says Jason Voyles, president of Spectrum Capital and lead developer on the Traçage project. “We could have easily chosen development sites in areas outside of New Orleans and Louisiana, but the opportunity to pioneer the rebuilding efforts of the ‘new’ New Orleans is what excites the Traçage team. Most developers spend their entire careers without having an opportunity to significantly impact the future of an entire city. We are committed to delivering a world-class project that will become a lasting landmark and make New Orleanians proud,” adds Voyles.

WHO’S BUYING?

“Interest in Traçage has been incredible as evidenced by the number of units under contract and the interest we have received to date,” says Bethany Foote, Traçage sales agent. “Traçage buyers range from destination travelers to New Orleanians who, pre-Katrina, were living in centuries-old Victorians, Italianate mansions and contemporary Lakeview homes, and are now excited about calling Traçage home or purchasing a second home for themselves or their recent college graduates. Other buyers are simply ready for something new and want to ‘buy the sky’ and enjoy high-rise luxury living in downtown New Orleans.”

Traçage residences, ranging from the mid-200K’s to over two million dollars, offer the benefits of a modern day lifestyle with all of the latest amenities in the historic New Orleans Warehouse Arts District. Open floor plans, oversized windows, gourmet kitchens and large balconies are common throughout Traçage living options. Becoming a part of the Traçage community offers residents the enjoyment of smart-technology, ample storage and parking, a fitness center with state-of-the-art cardio and strength training equipment, a community room with floor to ceiling glass, and a rooftop deck 24 stories above street level that offers an infinity edge pool and breathtaking views of downtown New Orleans and the mighty Mississippi.

A LOOK TO THE FUTURE

As the Traçage development team prepares for groundbreaking in late 2007, they are doing their part for the community by supporting numerous non-profit organizations and sponsoring such cultural events as the Whitney White Linen Night, a summertime gallery crawl, which supports the arts in New Orleans.

According to Voyles, “New Orleans is unlike any other city in the country. Like many others, we are committed to doing our part to help move this great city forward, while supporting what makes her culturally unique. We are combining the city’s rich heritage and historic past with the exciting possibilities and opportunities of the future. The end result is a better way of life in the best city in America.”

The 24-story, 136-unit Traçage is slated to take its place among the tall buildings dotting the growing New Orleans skyline in late 2009 in the historic Warehouse Arts District of New Orleans. It is being developed by Traçage Development, LLC. The development team consists of Spectrum Capital, LLC, Yates Construction, Foil Wyatt Architects and Planners of Jackson, MS, and Trapolin Architects of New Orleans, Louisiana.

For more information, call 504-525-8029 or 1-877-872-2244 or visit the website: www.tracageliving.com.

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RENDERING OF BUILDING ATTACHED

About Spectrum

Spectrum is a privately owned, diversified real estate investment company focused on development, management and acquisition of real estate assets including high-rise condominiums, retail and entertainment destinations, sports facilities, and mixed use properties.

About IDG | ISIS DEVELOPMENT GROUP

ISIS specializes in large-scale for sale and for rent multi-family development projects concentrated in the Gulf Coast United States. ISIS has a proven track record of identifying and acquiring development sights that exhibit the potential for excellent returns while mitigating investment risk. This strategy has allowed ISIS to develop multi-family projects that will benefit areas affected by Katrina and become a leader in the rebuilding of New Orleans and surrounding areas in the Gulf South.