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Verizon Wins the First 'Outstanding Multifamily Partner Award,' at Broadband Properties Annual Summit

Property Owners, Developers, and Managers Chose Verizon as the 'Outstanding' Vendor in Providing Service and Value to Their Communities

News Release

April 28, 2009 –

IRVING, Texas - Verizon Enhanced Communities, the Verizon business unit that markets and sells communications and entertainment services to single-family homes, multiple-family communities, and small and medium commercial sites, received on Tuesday (April 28) the first Outstanding Multifamily Partner Award.

The new award, presented at the Broadband Properties Annual Summit here, was created by a committee of multifamily property owners, developers and managers to honor an outstanding business partner. Verizon and the other candidates for the award had to provide documented evidence that they added value to the property owners' business or communities, or both.

Since 2005, Verizon Enhanced Communities has worked with multifamily owners to deploy the company's all-fiber-optic network and FiOS services to their communities.

Chris Acker, director, building technology services group, Forest City Enterprises Inc., and one of the co-chairs of the multifamily owners committee, said, "Verizon has proven to be an outstanding vendor by how it has conducted business with the multifamily community over the years. Verizon listened to owner concerns, developing and customizing its deployment of FiOS to work specifically for the multifamily community."  

Scott DeGarmo, CEO of Broadband Properties, said, "Broadband Properties is honored that our Summit provided the venue for this distinctive award. It has exceptional credibility because of the way the winners are chosen."

Eric Cevis, vice president of Verizon Enhanced Communities, said, "Verizon's FiOS initiative has grown tremendously since we began to deploy our all-fiber-optic network into multifamily and multitenant properties. We are thankful for the communities' energy in wanting to work with us to upgrade their IT infrastructure and bring their residents and tenants the latest cutting-edge technology."

A recent study conducted by Parks Associates found that respondents in general would be willing to pay $20 more per month to have access to fiber-optic services in a multifamily dwelling.

Since the onset of Verizon's program to bring FiOS services to multiple-family communities, the company has constantly reduced the time it takes to deploy the services and minimized the disruption to residents.

For example, Verizon has reduced the size of the optical network terminal (ONT), which connects the company's fiber-optic network to a customer's house or apartment.  In addition, the company has introduced fiber-optic cable that can be bent without affecting its transmission capabilities, enabling Verizon to wire a building much more efficiently and cost-effectively. To hide the fiber-optic cables, Verizon offers a wide selection of moldings, which can also greatly enhance the interior of a building.

In 2006, Verizon won Broadband Properties magazine's Cornerstone Award, for deploying the company's all-fiber-optic network and FiOS services at a new 300-unit, eight-building residential community in Dedham, Mass., in just 14 days.

Verizon has deployed FiOS services in developments owned by many of the largest real estate companies in the country, including Aimco, Archstone, JPI, Southern Management, Tishman Speyer and Trump. Verizon has also secured deals with smaller, regional builders and with the owners of low- and moderate-cost properties.

Verizon is the only national network to deliver 100 percent fiber optics straight to customers' homes and businesses. Verizon's award-winning FiOS Internet service offers the fastest connection download speeds at up to 50 Mbps* (megabits per second) and symmetrical speeds at up to 20 Mbps. Verizon FiOS TV offers the purest HD (high definition) signal available for amazing picture quality, plus razor-sharp 100 percent digital quality on all its more than 500 channels. 

Property owners and developers interested in bringing Verizon's FiOS services to their property can visit www.verizon.com/communities or call 866-MDU-6066 (866-638-6066) for more information.

* NOTE: actual (throughput) speeds will vary.

Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers.  Verizon Wireless operates America's most reliable wireless network, serving more than 86 million customers nationwide.  Verizon's Wireline operations provide converged communications, information and entertainment services over the nation's most advanced fiber-optic network.  Wireline also includes Verizon Business, which delivers innovative and seamless business solutions to customers around the world.  A Dow 30 company, Verizon employs a diverse workforce of more than 237,000 and last year generated consolidated operating revenues of more than $97 billion.  For more information, visit www.verizon.com.

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Media Contact:
Bill Kula, APR, 972-718-6924
Ellen Yu, 908-559-3496

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