May 17, 2017

Miller-Valentine Group makes top 25 developer list

Miller-Valentine Group is honored to be cited as one of the top 25 developers of multifamily housing for 2017 by The National Multifamily Housing Council (NMHC).

The list is based on the number of units started in 2016 and Miller-Valentine Group landed at #18 with the largest percentage increase in starts from 2015 to 2016 at 401%. The closest competitor was about half of that, with a 202% increase.

Clearly, the measure of a developer’s success goes well beyond the number of units started in a given year. Miller-Valentine Group focuses not only on creating top-quality developments but finding those perfect locations that will increase residents’ quality of life.

Placing Premiums on more than Amenities

Anyone can build an upscale development, but considering factors like transit system availability, traffic patterns, recreational opportunities and proximity to popular shopping areas is what makes the Miller-Valentine properties stand out.

“Patience is a key for us,” explains Dave Liette, President of Miller-Valentine Property Management. “We know it’s not just about finding the next plot of available land, it’s about finding those locations where people want to live, creating a vision and working to make it happen.”

As the housing and construction markets ebb and flow, a strong focus on industry trends and a drive to improve the communities where Miller-Valentine develops properties is what will foster future success.

Millennials and Empty Nesters – Rental Relatives

These two demographics may be quite disparate in age ranges, but together they’re a force driving a major trend in the rental market. While millennials are looking for portability in their lifestyle with freedom to pick up and move to a new job and/or town as needed, empty nesters and retirees are looking to downsize in a way that doesn’t decrease their housing quality — both are looking for higher-end amenities, regardless of budget.

What this means is that premium developments must provide options which appeal to both millennials and empty nesters — location and quality also matter as both groups have discriminating taste. Millennials may be more price sensitive and often sacrifice size while empty nesters tend to require more space. Ultimately, both groups desire the convenience associated with luxury apartments versus the financial restrictions and upkeep associated with home ownership.

Millennials may be looking for school districts and entertainment options while empty nesters like the idea of being able to travel for long periods without worrying about their home. In either case, Miller-Valentine is delivering options that satisfy everyone from the more budget-minded to the most discriminating, like the recently opened WaterStone at Hamburg, in Lexington.

As apartment markets remain tight, the ability to deliver well-situated, desirable properties in crowded markets will set developers apart. Miller-Valentine Group is well positioned to continue the success that’s led to this year’s #18 on the NMHC top developer list.

For more information, contact Dave Liette at 513.588.2689.