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ADDITIONAL EXPERIENCE

DENALI DEVELOPMENT GROUP

Metro Lofts

Location

Royal Oak, Michigan

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Project

30 unit loft building

One of the first new developments of loft condominiums to hit the market in 2004.  Although the market was booming, the sales and marketing of this project were challenging due to its location in the Warehouse District with close proximity to the railroad tracks. The loft style is not typical in Michigan where most purchasers still focused attention on bedrooms available vs. open space.

 

The solution was to create a vision for purchasers about the development and location. This was achieved by distinguishing the units in the market place by emphasizing building features that made them stand out, such as high ceilings, oversized windows, large outdoor spaces, high end finishes, and sense of lifestyle.

Results

  • Sold 11 units prior to ground being broken

  • All 30 units sold out in 6 months

  • Increased projected sales price on average 20% per unit

Services

  • Determined pricing to maximize profit margin

  • Defined product and target market 

  • Determined look and feel of product

  • Defined selections materials/differentiate upgrades

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