HOUSTON, Nov. 15, 2005 (PRIMEZONE) -- Window Rock Capital Corporation (Pink Sheets:WRKC), a real estate asset development company, announced that it has entered into a memorandum of understanding with RPM Ventures, LLC (dba Reynolds Family Homes), under which the companies will jointly develop and manage a real estate development project in New Orleans.
RPM Ventures has been approved to be a minority-certified contractor in the U.S. Central Contractor Registration system.
Charles Shirley, CEO of Window Rock, stated, "We are looking forward to work cooperatively with RPM concerning the redevelopment and refurbishing of homes and businesses in the New Orleans area that were hurt by the devastation caused by Hurricane Katrina. We have worked been working with RPM in Columbus, Ohio and we are pleased with their work. We foresee, as a rough estimate, building or refurbishing up to 1,000 homes. Based upon that estimate, we forecast revenues from the New Orleans project only heading toward US$30 million."
"RPM is glad to have found a partner like Window Rock, who has experience in this arena and will allow us to take advantage of our contacts in New Orleans," said Tony Reynolds, Chief Managing Member of RPM.
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