Design Within Reach Making Connecticut Its New Home

STAMFORD, Conn., Oct. 27 /PRNewswire/ -- Design Within Reach, Inc. (DWR) (Pink Sheets: DWRI) announced today that it is moving its headquarters to Connecticut. DWR, which specializes in modern furniture and accessories, will relocate its headquarters from San Francisco to Harbor Point in Stamford, Connecticut. As part of the plan, an existing building will be retrofitted for offices and a Design Within Reach Studio. The $5 million project will bring 65 full-time jobs to the area.

Design Within Reach was founded in San Francisco in 1999 by Rob Forbes and has retail stores across the country, a large catalog business and an extensive e-commerce website. The company sells authentic, enduring, heirloom-quality products, from iconic mid-century works to innovative items from today's designers. DWR's assortment of clean and simple furniture and accessories represents designers, materials and processes that span categories and countries. Many of the items are contract quality, and are used in restaurants, hotels and schools around the world.

"I'm ecstatic with the news that Design Within Reach will be calling Stamford home. The company chose Connecticut, bringing with it 65 new jobs and additional investment that will build on the other positive developments going on in Stamford and Harbor Point," said Governor Rell.

"Within the last year, the state has announced financing for Harbor Point, an important project for its transit-oriented development opportunities, and financial assistance to relocate the Starwood Hotels & Resorts and Nestle Waters to Stamford, help Stamford manufacturer LiQuifix expand it headquarters, retain the headquarters of General Reinsurance Corp. Together these projects are creating thousands of jobs and generating millions of dollars in income for the city and state."

"We believe in the concept of rebirth and we love what Building and Land Technology (BLT) is doing with this fantastic waterfront area," said John Edelman, President and CEO of Design Within Reach.

"We chose Stamford due to its proximity to New York City, vibrant available workforce, and the opportunity to be part of the exhilarating renewal taking place in Stamford's South End," said the company's Chief Operating Officer John McPhee. "We look forward to having our corporate offices located directly above the newest Design Within Reach Studio, both of which will be in the former Yale and Towne lock factory at Harbor Point."

Carl R. Kuehner, III, President and CEO of Building and Land Technology said, "Design Within Reach is a welcome addition to Harbor Point and a great example of how BLT, the City, the State and the South End Community worked successfully together to inspire a nationally recognized tenant to relocate its headquarters from California to the South End of Stamford."

Stamford Mayor Michael Pavia added, "DWR continues to speak to the economic diversification of Stamford and the City's ability to attract leading consumer products companies both in headquarters as well as their retail operations."

Connecticut residents John McPhee and John Edelman were the catalysts for the move. John Goodkind and James Ritman of Newmark Knight Frank represented DWR. According to Goodkind, "Harbor Point is one of the most exciting urban renewal projects in the country, and is therefore able to attract new jobs with a terrifically diverse mix of tenants such as DWR, Starwood Hotels & Resorts and the soon to open Fairway market."

The Department of Economic and Community Development is providing up to $1.5 million in tax credits through the Urban and Industrial Sites Reinvestment Tax Credit program. The program provides tax credits on investments made in urban or industrial sites.

About Design Within Reach, Inc.

Design Within Reach, Inc., founded in 1999, is the source for the best in modern design. The company markets and sells its furniture and accessories to both residential and contract customers through its retail Studios in the United States and Canada, www.dwr.com and its phone sales team at 1.800.944.2233.

About BLT

A second-generation real estate development company, Connecticut-based Building and Land Technology (www.BLToffice.com) has completed ventures worth more than $3 billion including over 4 million square feet of commercial development and 4,500+ residential units. BLT trophy properties host the headquarters for Starwood Hotels & Resorts Worldwide, Gen Re, GE Commercial Finance, Diageo, GE Real Estate, Xerox, GE Energy Financial Services, IMS Health, Hewitt and Cornell University Veterinary Specialists. Their numerous office parks, apartment complexes, single family subdivisions, common interest communities and adaptive reuse projects total in excess of 8,000,000 square feet of development throughout Fairfield County.

SOURCE Design Within Reach, Inc.

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