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3rd Quarter Update

September 22, 2017

21 East 66th St. - 2

Photo Credit: Holger Obenaus

 

Wow where has the year of 2017 gone? As we end the 3rd Quarter, Milan has put the final touches on a couple of projects here in Dallas and finished up our last project for the year in Manhattan, New York. Currently, we are in various stages of the Design + Build process with a handful of incredible clients in Dallas and the surrounding areas. Additionally, our construction team and our associated partners in the field are working diligently on two beautiful model homes available for sale here in Dallas, located at 6480 Royalton Drive and 5923 Park Lane. 

21 East 66th St. - 2

Photo Credit: Holger Obenaus

 

As real estate would have it, the markets are always changing. Milan currently does not have any ongoing projects in New York after recently completing the Upper East Side pre-war property on East 66th Street. A larger number of new luxury high-rise residential properties have flooded the market and at this time we are electing to sit on the side lines until market conditions change. That being said, we continue to look at new markets and are currently evaluating the Austin, Texas market along with Vail and Aspen, Colorado. Here in Dallas, conditions are still great; however, the higher-end market of three million dollars and up seems to have softened a bit as of late. Lot prices have risen to the point where being selective is critical for constructing a product that will have adequate sale value at acceptable margins. As I assess the market, I've noticed that the increased land values have influenced others to sacrifice their quality of construction in order to maintain their margins; however, at Milan we will continue to challenge that notion and maintain the highest quality construction in areas where customers will always choose quality over an inferior product.

 

Last, but not least, I'd like to welcome our team's newest members: Eric Pastore and Brandon Pridgen. As I emphasize quality with no exceptions, it is essential as our company grows, and we assume more projects, that we have the components in place to ensure each job is performed to the Milan standard. The efforts of these two men can not be commended enough as is evidenced by the cleanliness of the construction sites and the quality of construction on our two model projects I mentioned previously. Master Builder Eric Pastore, will assume the role as Head Project Manager, while Brandon Pridgen will assist in Project Management and Sourcing of Materials. 

   

 

We hope to see each of you soon.

 

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5220 Spring Valley Road, Suite 212

Dallas, Texas 75254

Office: 469 333 8880

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