We are diversifying our development portfolio and going where the occupancy is...  in today's marketplace this means multi-family properties.  Kitchell has partnered with a recognized leader in the luxury apartment industry, Mark-Taylor, to develop the first multi-family housing communities in the metropolitan Phoenix area in more than two years. The financial stability and depth of experience of both companies is an optimal combination to obtain financing and elicit positive forecasts. According to the Wall Street Journal, "more Americans have been opting to rent in recent years as the allure of owning a home has diminished, due in part to tight lending restrictions, falling prices and rising foreclosures." These forces are driving up apartment building values—to levels unseen since 2007, in some cases. We see our partnership with Mark-Taylor as an ideal complement to our diverse development portfolio of retail, office and industrial projects.