RESTON, Va.--(BUSINESS WIRE)--
Comstock Holding Companies, Inc. (Nasdaq:CHCI) ("Comstock" or the
"Company"), a homebuilding and multi-faceted real estate development and
services company in the Washington, D.C. metropolitan area, today
announced a series of changes within its senior management team,
including the resignation of Gregory V. Benson as President and Chief
Operating Officer as of May 5, 2014. He remains on the Company's Board
of Directors. His current term will expire at the Company's 2015 annual
meeting of stockholders.
Michael Twiss, Vice President of Construction, will assume management of
the Company's production functions. Dennis Kelleher, Vice President of
Land, will assume management of the Company's project entitlement and
land development functions. Mr. Twiss, a 16-year veteran of the Company
and the former President of its Raleigh Division, has over 28 years of
experience in the homebuilding industry. Mr. Kelleher, who joined
Comstock in 2012 after his role as Area President-Washington/Baltimore
Region for the NYSE-listed company MI Homes, has over 25 years of
experience with regional and national homebuilders.
"We thank Greg for his 20+ years of management service to Comstock,"
said Christopher Clemente, Chairman and Chief Executive Officer. "I
value my longstanding relationship with Greg and look forward to working
with him in the future in his continuing capacity as a member of our
Board of Directors. I am pleased that Comstock has a deep bench of
talent that enables us to transition Greg's management responsibilities
to experienced and capable managers as we continue to focus on growing
our business and enhancing our results."
Separately, Tere Richards has been appointed Vice President of Sales,
assuming management of the Company's project sales and related
functions. Ms. Richards has more than 30 years of experience in
management of new home sales and marketing, having held management
positions with NVR, one of the nation's largest homebuilding and
mortgage banking companies, and others prior to joining Comstock in 2006.
About Comstock Holding Companies, Inc.
Comstock is a homebuilding and multi-faceted real estate development and
services company that builds a wide range of housing products under its
Comstock Homes brand through its wholly owned subsidiary, Comstock Homes
of Washington, LC. Our track record of developing numerous successful
new home communities and more than 5,500 homes, together with our
substantial experience in building a diverse range of products including
apartments, single-family homes, townhouses, mid-rise condominiums,
high-rise condominiums and mixed-use (residential and commercial)
developments, has positioned Comstock as a leading residential developer
and homebuilder in the Washington, D.C. metropolitan area. Comstock
Holding Companies, Inc. is a publicly traded company, trading on NASDAQ
under the symbol CHCI. For more information about Comstock or its new
home communities, please visit www.comstockhomes.com.
Cautionary Statement Regarding Forward-Looking Statements
This release contains "forward-looking" statements that are made
pursuant to the Safe Harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve known
and unknown risks and uncertainties that may cause actual future results
to differ materially from those projected or contemplated in the
forward-looking statements. Additional information concerning these and
other important risks and uncertainties can be found under the heading
"Risk Factors" in the Company's most recent Form 10-K, as filed with the
Securities and Exchange Commission. Comstock specifically disclaims any
obligation to update or revise any forward-looking statements, whether
as a result of new information, future developments or otherwise.
Source: Comstock Holding Companies, Inc.