ADDITIONAL EXPERIENCE
DENALI DEVELOPMENT GROUP
Loft 322
Location
Ann Arbor, Michigan
Project
21 unit loft building
Loft 322 was one of the first new loft developments to surface in Ann Arbor in 2005. Ann Arbor has a high end, cutting edge image that the project had to uphold in order to be successful. This project had to overcome purchaser established perceptions and engage the idea of more open space and the value of living within walking distance to everything. Focus needed to be shifted to the lifestyle. With this project the plan was to sell without a sales office because the construction site was so tight, the market still good, and the demand for new downtown living existed. Emphasized a strong internet presence and signage from downtown traffic. Capitalizing on the strong broker presence and realtor relations was also essential. More of a boutique approach was successful for this project.
Results
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Sold 18 units in initial private opening
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Sold all 21 units in 3 months
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Increased prices as units sold to increase expected margin
Services
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Determined pricing to maximize profit margin
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Vendor selection and determination
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Product and target market definition
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Defined selections and materials