CLRT - Celerity Systems, In4Structures and Bala Multi-Family Announce Third Project
KNOXVILLE, Tenn., Mar 12, 2001 (BUSINESS WIRE) -- Celerity Systems, Inc. (OT
CBB:CLRT), In4Structures LLC of Bala Cynwyd, Pennsylvania and Bala Multi-Family
Investment Company LLC of Lewisville, Texas today announced the contract to
deploy Celerity's end-to-end interactive television system in the Lakepointe
multi-family property, in Lewisville, Texas. The property has 221 units and is
the third such project under the Celerity, In4Structures, and Bala agreements.
The technology based services offered under this agreement include: interactive
TV (video on demand), high-speed Internet, interactive retailing and advertising
(T-commerce), home gateway services including energy management and security
monitoring, and using the Celerity T 6000 digital set top box to provide all
services on a TV (without the need for a PC) or on a PC.
Celerity Systems is a provider of advanced digital set top boxes and video
servers for the interactive television and high speed Internet markets.
Celerity's target markets include multihousing, hospitality, schools, telcos,
energy companies, and cable companies. Celerity can also provide end-to-end
systems through strategic relationships with leading companies including Cisco,
Battelle Laboratories, Innovacom, Marconi, Nortel, nCube, and Minerva Systems.
In4Structures is a building technology integrator working with property
developers, owners, builders, tenants and technology service vendors to create
technology enabled facilities.
Bala Multi-Family was established in 1998 to develop and manage multifamily
luxury apartments. Headquartered in Dallas, Texas under the leadership of Terry
Lewis - President, Bala Multi-Family develops rental units and has created a new
paradigm for this growing market that represents a departure from ordinary
apartment living -- the housing evokes the feeling and warmth of "home" -- with
all of the amenities and none of the hassles of ownership. The exteriors
resemble large custom homes with units ranging in size from 800 to 1,500 square
feet. Some recent projects include Balawoods at Kingwood in Houston, Texas;
Desertscape Residences in Mesa Arizona (scheduled to open in March, 2001); and
Bala Pines in Orlando, Florida (scheduled to break ground in March, 2001). To
date, Bala Multi-Family has successfully developed over $150,000,000 worth of
luxury apartments and is currently managing 900 units.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: The statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks and
uncertainties including but not limited to risks associated with the uncertainty
of future financial results, additional financing requirements, development of
new products, government approval processes, the impact of competitive products
or pricing, technological changes, the effect of economic conditions and other
uncertainties detailed in the Company's filings with the Securities and Exchange
Commission.
CONTACT: Celerity Systems, Inc.
Cabot Longnecker, 865/539-3510
Email: clongnecker@celerity.com
Fax: 865/539-3502
www.celerity.com
or
In4Structures LLC
Skip Gosnell, 610/660-7405
Email: sgosnell@in4structures.com
Fax: 610/660-4950
or
Bala Multi-Family Investment
Terry Lewis, 972/315-8855
Email: tlewis@balahousing.com |
