Photo Release -- Comstock Announces Grand Opening of The Hampshires

One of Largest New Home Communities in Washington, DC

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| Source: Comstock Holding Companies, Inc.
photo-release

The Wittmore at The Hampshires

The Hampshires Single Family Living Room

The Hampshires Ribbon Cutting Ceremony - Councilperson Bowser (with the HUGE scissors), Terry Goings, Charon Hines, and Sara Green.

WASHINGTON and RESTON, Va., Oct. 2, 2012 (GLOBE NEWSWIRE) -- Comstock Homes of Washington, LC, a wholly owned subsidiary of Comstock Holding Companies, Inc. (Nasdaq:CHCI) recently celebrated the much anticipated grand opening of The Hampshires, a new community of 111 single family homes and town homes being developed by Comstock in the Lamond-Riggs neighborhood of Northeast Washington, DC. City Councilperson Muriel Bowser led the ribbon cutting ceremony; "I am delighted to welcome the Hampshire's to Ward 4, this new construction will offer much needed high quality and diverse housing. I am proud to have worked with local leaders and residents to help make this development a reality, for which residents have long clamored. I look forward to welcoming new residents to Ward 4."

Photos accompanying this release are available at http://www.globenewswire.com/newsroom/prs/?pkgid=14982

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Joining Bowser for the ceremony were Lamond - Riggs Gwen Cofield - chair of the Lamond - Riggs Task Force, Charon Hine – President of Lamond-Riggs Citizens Association, and Sara Green – Chair of the ANC4B. More than one hundred neighbors as well as Comstock personnel were also on hand.

"We are excited about the opening of this tremendous new community, our first in downtown Washington, DC. It represents the launch of our new City-Style line of homes," said Maggie Parker, spokesperson for Comstock Homes of Washington, LC. "Demand for new homes in this area is apparent, as demonstrated by our early sales in the single family section of The Hampshires community. We look forward to opening the townhome section in the coming months."

The Hampshires community is located at 6000 New Hampshire Ave. The property has a lengthy history of uses that include a farm, an orphanage run by the Order of the Eastern Star, and most recently a Med-Star Health facility. The consolidation of multiple parcels allowed creation of a large new home community that is transforming a block of New Hampshire Ave, NE at Peabody into a lovely City-Style neighborhood comprised of 37 single-family homes and 73 townhomes surrounding a sizable open green space. The Hampshires is one of the largest for-sale new-home communities to be built in downtown Washington, DC recently. Comstock and its development partner, Four Points, LC have designed the brick colonial homes to meet demand for reasonably priced new homes in Washington, DC.

The single-family homes offer four and five bedroom floorplans, and are up to 2,700 square feet on three levels. Each has a two-car garage and features such as gourmet kitchens, hardwood floors, and granite counter tops. The town homes will offer three and four bedroom floorplans with up to 1,700 square feet of living space. Finely appointed, the exteriors of the homes at The Hampshires were designed to blend with the traditional historic architecture of the city, while the interiors burst with contemporary flavor and practical, livable space.

About Comstock Holding Companies, Inc. & Comstock Homes

Comstock is a multi-faceted real estate development and services company, which builds a wide range of housing products under its Comstock Homes brand through its wholly owned subsidiary, Comstock Homes of Washington, LC. 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 prominent real estate 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 projects please visit www.comstockhomes.com

The Comstock Holding Companies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=14993

About Four Points Development, LLC - Four Points LLC, a DC-based real estate development company, was established in 2004 to develop commercial, residential, and mixed-use properties in the mid-Atlantic region. Four Points seeks to develop properties in urban, in-fill locations that leverage the existing transportation network and proximity to employment centers. For more information on Four Points or its projects please visit mailto:svoudrie@fourpointsllc.com ;

MAGGIE PARKER, 703.963.6871