First Capital Realty Celebrates Opening of Toronto's First 'Green' Shopping Centre



    
           Morningside Crossing Opens With Exciting New Retailers
                       in Toronto's West Hill Community
    

    TORONTO, Sept. 25 /CNW/ - First Capital Realty Inc. ("First Capital
Realty") (TSX:FCR) Canada's leading owner, developer and operator of
supermarket and drugstore-anchored neighbourhood and community shopping
centres located predominantly in growing metropolitan areas, today announced
the grand opening of Morningside Crossing Shopping Centre, located at the
corner of Morningside Avenue and Kingston Road in Toronto, Ontario. This is
the City's First Green Shopping Centre and the second of First Capital's fully
built properties in the Greater Toronto Area.
    First Capital is a committed proponent of Leadership in Energy and
Environmental Design (LEED), and in May 2006 became the first shopping centre
developer in Canada to announce that all of its new development projects would
be constructed to LEED standards and principles. In 2008 alone, First Capital
is investing over $160 million in properties developed to LEED standards
across Canada, totaling 1.6 million square feet of space at 33 projects
including new shopping centres, redevelopment properties and expansion space.
First Capital Realty dominates the list of retail development projects
registered for LEED certification with the Canadian Green Building Council.
    "This is an exciting day for our Company, the retailers, the environment
and the residents of this Toronto nieghbourhood," said Dori J. Segal,
President & CEO, First Capital Realty. "We are extremely proud of our pledge
to construct green buildings and we are very encouraged by the enthusiasm we
have experienced from the premium line-up of retailers who have joined us in
this commitment to improving the environment in which we all live and work."
    "First Capital Realty has clearly demonstrated that the principles of
sustainable development can be integral to a successful business strategy"
said Douglas Webber, Chair of the Toronto Chapter of the Canadian Green
Building Council. "With 33 LEED registered projects, they are the retail
industry leader and have paved the way for others to follow."
    As Canada's leading owner, developer and operator of supermarket and
drugstore anchored neighbourhood and community shopping centres, the
introduction of clean, new green buildings to the Morningside Crossing
location has already proven to be a huge success for retailers and the
community.
    "The people of West Hill are thrilled with Morningside Crossing and
pleased to welcome First Capital Realty to the community," said Councillor Ron
Moeser. "They have proven their leadership in developing great properties
while responding to the needs of the environment and the interests of local
residents."
    First Capital is celebrating the grand opening of Morningside Crossing on
Saturday September 27, 2008 from 11am to 2pm with a free Family Fun Day and
Charity BBQ to include a number of activities and giveaways. Management of
First Capital and Morningside Crossing invite everyone in the community to
join them to celebrate this commitment to environmental awareness.

    ABOUT FIRST CAPITAL REALTY (TSX:FCR)

    First Capital Realty is Canada's leading owner, developer and operator of
supermarket and drugstore-anchored neighbourhood and community shopping
centres, located predominantly in growing metropolitan areas. The Company
currently owns interests in 170 properties, including eleven under
development, totalling approximately 19.6 million square feet of gross
leasable area and 7 land sites in the planning stage for future retail
development. In addition, the Company owns 14 million shares of Equity One
(approximately 19%), one of the largest shopping centre REITS in the southern
U.S., that trades on the New York Stock Exchange under the ticker symbol EQY.
Including its investment in Equity One, the Company has interests in
328 properties totalling approximately 35.5 million square feet of gross
leasable area.





For further information:

For further information: Dori J. Segal, President & C.E.O., or Karen H.
Weaver, C.F.O, First Capital Realty Inc., 85 Hanna Avenue, Suite 400, Toronto,
Ontario, Canada, M6K 3S3, Tel: (416) 504-4114, Fax: (416) 941-1655,
www.firstcapitalrealty.ca


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