Midtown Exchange, Jim Ryan each honored for investment in and commitment to community

(MINNEAPOLIS, Minn.) May 5, 2009 –The Minneapolis/St. Paul Business Journal, celebrating the 10th anniversary of their Best in Real Estate Awards, honored Ryan Companies US, Inc. in two new award categories. Jim Ryan, CEO of Ryan Cos. US, received the publication’s first-ever Lifetime Achievement Award, and Midtown Exchange was named one of two “Best of the Decade” project award winners.

Jim Ryan was recognized for his contributions to Minneapolis’ community and real estate industry that can be traced back a quarter-century. From his decision to relocate the company’s Edina office to Minneapolis to the numerous high-profile Ryan developments that now dot the landscape, to countless charitable endeavors, Jim’s award not only honors his dedication but also his humility in embracing each opportunity to make a difference.

“While Jim would shrug this off as no big deal, anyone who’s had the privilege of working with him knows this is a much-deserved honor,” said Pat Ryan, President, Ryan Companies US, Inc. “Any project he takes on, whether it’s a development deal or a fund drive for a charity, Jim is grounded by the belief that his work serves a higher purpose. I couldn’t be more thrilled for him.”

The award also recognized Jim’s dedication to serving communities. In recent years, Jim helped lead a fundraising campaign for Children’s Hospitals & Clinics of Minnesota, and has served on numerous nonprofit boards of directors. Along with co-owners Pat Ryan and Tim Gray, Jim helped establish the Ryan Foundation, encouraging company employees to give back to their own favorite charitable organizations through a matching program.

Midtown Exchange was recognized in front of the sold-out audience as an example of investment in and commitment to the community, instrumental in turning a blighted area into a vibrant, thriving neighborhood.

 “Receiving Project of the Decade is a tremendous compliment to the thousands of people who had a hand in bringing Midtown Exchange to life,” said Rick Collins, vice president of development, Ryan Companies US, Inc. “We knew that working on the old Sears retail and catalog warehouse was a once-in-a-lifetime opportunity, bringing collaborators from the community, local government and private businesses to the table, united around a single cause: reclaiming the corner of Chicago and Lake in Minneapolis.”

This award adds to the dozen-plus accolades the mammoth redevelopment – led by Ryan Companies US, Inc. as master developer and design/builder – has received since its completion nearly three years ago. In 2006 the National Trust for Historic Preservation recognized Ryan for its work on Midtown Exchange with an Award of Excellence.

Ryan won development rights in 2004 and took responsibility for putting together all the development pieces and then completely renovating Midtown Exchange in 16 months while staying on budget. This massive project consisted of redeveloping nearly one million square feet while providing positive neighborhood impact and respecting the building’s history. Midtown Exchange was embraced by a high level of neighborhood involvement and a 99% occupancy rate at opening. The project anchors include: Allina Health System, Hennepin County Services Center, Midtown Global Market, the Sheraton Midtown Hotel, the 219-unit Midtown Exchange Apartments, the 88-unit The Chicago condominiums (in the historic building), and the 57-unit Midtown Exchange Condos on the Greenway (“wrapping” the 6-level parking ramp). Project team members included:

Master Developer and Office/Commercial Developer:    Ryan Companies US, Inc.

1928 Housing Developer:    Sherman Associates, Inc.

Townhome Developer:    Project for Pride in Living

Hotel Developer:    Ryan Companies US, Inc.

Hotel Consultant:    Wischermann Partners

Midtown Global Market Developer:    Neighborhood Development Center (with other partners)

Coordinating Architect/Building Shell & Parking Ramp:    Collaborative Design Group

1928 Housing Architect/Hotel Architect:    Elness Swenson Graham (ESG)

Townhome Architect:    UrbanWorks Architecture

Landscape Architect/Urban Designer:    Close Landscape Architecture

Interior Common Area Design:    Shea

Allina Commons Interior Architect:    Perkins & Will

Neighborhood Facilitation:    The Green Institute

Leasing and Brokerage:    Welsh Companies

Historic Preservation:    Hess, Roise and Company

Government Relations:    McGrann Shea Anderson Carnival Straughn & Lamb, Chartered

Allina Representatives:    Real Estate Strategies/Nelson, Tietz & Hoye

About Midtown Exchange

Midtown Exchange is a mixed-use historic landmark development in the Midtown district of Minneapolis. The redevelopment team, a consortium of development and community organizations led by Ryan Companies, spent 21 months transforming the site into a place to work, play and live, further connecting the site to the surrounding community and supporting the Midtown renaissance. At peak construction, as many as 750 trades-people worked daily on the million-plus square foot site.

About Ryan Companies, US, Inc.

Ryan Companies US Inc., a nationally recognized developer, design-builder and real estate manager, has specialized in fully integrated solutions for more than 70 years. Ryan builds lasting relationships with a project delivery model based on full-service customized solutions and total collaboration – pairing the customer’s needs and expectations with the talents of a team of developers, financiers, architects, engineers, constructors and property managers. In addition to its Minneapolis office, Ryan has offices in Chicago, Phoenix, San Diego, Tampa, Cedar Rapids, Davenport and Des Moines, Iowa. Ryan was named the 2007 National Developer of the Year by NAIOP, the Commercial Real Estate Development Association. For more information, visit www.ryancompanies.com.