Q: Do you plan to expand into any new markets?
A: Yes, we want diversity. You tend to get so micro-focused on submarkets. You feel comfortable doing that and [then] you run out of opportunities, especially on the development side. It’s not as bad if you go and buy two existing apartment buildings in a submarket, but if you go build two, that’s a whole different story. We plan to look at Florida first because there is a lot of opportunity [there]; I am not sure if we are too early yet. We’re also looking at Charleston, S.C., Savannah, Ga., and Nashville.
Q: What are your company’s growth plans?
A: We have 21 employees, and we want to stay small. I’d love to have a management company; I don’t want the personnel. I’d love to have a marketing team; I don’t want the personnel. If you get too big, then instead of managing projects, you are managing people. Our goal is not to be larger than 25 people, so we’ve got four more to go.
Q: What would you be doing if you were not in the multifamily industry?
A: High school football and baseball coach.
About the Company
What: Develops rental and for-sale infill housing
Founded: 1993
Headquarters: Atlanta
Employeees: 21
2007 revenue: Declined to state
Units owned: 323 (as of Dec. 1)
Units in development: 1,850
Geographic coverage: Atlanta
About the Project
Project: The Gramercy Town-homes
Location: Atlanta
Units: 185 condos
Price: $300,000s to $400,000s
Notable: Located within the 44-acre, live/work/play Perimeter Place; 10-foot ceilings; pool deck with fireplace