CRESCENT REAL ESTATE EQUITIES

Daily Point of Light # 2705 Jun 17, 2004

Crescent Real Estate Equities Company is one of the largest publicly held real estate investment trusts in the nation. The sense of commitment and excellence found at Crescent properties is brought to the community through Crescent’s FACES of Change program. Founded in 1997, FACES of Change creates three-year partnerships between Crescent properties and elementary schools in need. Currently, 37 Crescent properties are partnered with 26 elementary schools nationwide. FACES of Change partnerships take many different forms but they all create powerful benefits for the schools, students, families and volunteers. During the 2002-2003 school year, Crescent properties raised a combined $312,513 for their FACES of Change partner schools.

For Read Across America Day, in celebration of Dr. Suess’ birthday, volunteers from 14 different Crescent properties volunteered their time at FACES of Change partner schools, reading to students and stressing the importance of strong literacy skills. The volunteers added to the fun by dressing like the Cat in the Hat, complete with signature red and white striped hat and big red bowtie. In addition, the schools were presented with new books for their classrooms and libraries.

A FACE of Change partner school, Sidney Lanier Elementary in Dallas, Texas, was the recipient of a brand-new ten-station obstacle course and playground. Previously no play equipment was available for the schools’ older students. FACES of Change volunteers from The Crescent® funded the playground through two silent auctions at the property raising a total of $20,000. The shiny new playground has also become a community resource since the school is located in an urban neighborhood with very few parks.

Last spring, more than 35 students from Nash Elementary School in Fort Worth learned first hand what it means to be a Crescent team member at the “Hands On” Crescent Career Day. Crescent’s corporate office hosted the career day involving more than 64 Crescent employees.

With a FACES of Change partnership in every market in which Crescent operates, FACES has touched the lives of more than 25,000 children through 52 partnerships with elementary schools since its inception in 1997. And FACES’ 7,000+ volunteers have contributed more than $1.2 million, including goods and services, and more than 22,000 hours of service.

Crescent CEO, John Goff, explained the FACES philosophy best in a recent interview, “I could write a check for [students from a FACES partner school] to go to Six Flags or I could spend some quality time with them. At the end of the day, I think time is more valuable.”

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