Two Local Developers Make Donation to Support Expansion of Library in Palm City, Fla.
August 11, 2008
FOR IMMEDIATE RELEASE
Thorp & Company
Palm Beach Gardens, Fla., August 11, 2008 – Ram, a leader in real estate development and acquisitions, today announced that its Chairman and CEO, Peter Cummings, and his wife, Julie Cummings, donated $150,000 to support the expansion of the library that bears their name – the Peter and Julie Cummings Library in Palm City, Fla. In addition, Regency Centers, a well-respected business with substantial interest in Martin County, also donated $50,000 to the library’s expansion.
The Cummings donated the land to the Library Foundation of Martin County in 1980, which built the library in 1995. The donations will be used to fund the planned expansion of the library, which will include a second story addition, a reading area for adults and a gathering area for teens. Construction of the children’s and youth wing began in April 2008 and will be completed in April 2009.
“We’re big advocates of education, and we wanted to support a cause that would have a positive impact and enhance the lifelong learning of our community members,” said Cummings. “This library not only serves as a resource center, but it is also a place where members of the community can gather and discuss civic and cultural activities that are important to them.”
“Being good stewards of the communities where we invest in is at the core of who we are,” said Mike Kinsella, CEO of Regency Centers. “We’re proud to support a resource facility that meets the needs of citizens of all ages.”
Founded in 1978, Palm Beach Gardens, Florida-based Ram is an affiliated group of companies comprised of Ram Development Company, a leader in retail, residential and mixed-use development and acquisition, and Ram Realty Services, a provider of residential and retail management and leasing services. In addition to the Palm Beach Gardens office, Ram has offices in Fort Lauderdale and Tampa, Fla., Raleigh, N.C., and Atlanta, Ga. Currently, the company manages approximately 2.5 million square feet of retail property and 3,000 apartments and is active in Florida, North Carolina and Georgia. Ram is committed to making places that are socially responsible, economically vibrant and environmentally sustainable. For more information, visit www.ramrealestate.com.
About Regency Centers
Regency is the leading national owner, operator, and developer of grocery-anchored and community shopping centers. At March 31, 2008, the company owned 450 retail properties, including those held in co-investment partnerships. Including tenant-owned square footage, the portfolio encompassed 60 million square feet located in top markets throughout the United States. Since 2000, Regency has developed 189 shopping centers, including those currently in-process, representing an investment at completion of nearly $3.0 billion. Operating as a fully integrated real estate company, Regency is a qualified real estate investment trust that is self-administered and self-managed.
About The Library Foundation of Martin County
The Library Foundation of Martin County provides funding from individuals and other private parties to provide free programs for children and adults and construction grants for the expansion and the building of libraries. Membership in the Foundation is $35 for an individual and $50 for a family. For further details, please contact the Foundation office at 772-221-1409 or visit the Web site at www.libraryfoundationmc.org.