CLEVELAND, OH - Weston Inc. announced that it has formed a new entity, Weston Builders. In discussing this new venture, T. J. Asher, CEO of Weston Inc. underlined Weston’s continued need to expand its business opportunities particularly in the multifamily residential industry it has forged into. He explained that Weston Builders primary focus will be on Low Income Housing Tax Credit (LIHTC) renovation work, the senior living industry, and higher education student housing.
“This venture is a natural progression for us,” he says. “It makes complete sense. We have the staff in place. We have long-standing relationships with our lenders so that we can get deals done. And, we have a great reputation in the marketplace.”
Mark Horton, President of Weston Development, will head up this effort, supported by Chris Gellin as Vice President, formerly of Merit Enterprises, the building arm of Associated Estates, Inc. “These two have loads of experience,” Asher adds.
Gellin defines the strategy for future growth of Weston Builders as “practical”, referencing its first project, a HUD financed ground up construction of 108 units as a second phase of the existing. The Residences at Carronade in Perrysburg, Ohio with an anticipated groundbreaking slated for August, 2013.
“We have existing relationships with subcontractors and an understanding of Low Income Housing Tax Credits,” Gellin adds. “We appreciate these types of projects from the owner’s point of view.”
As to why he has decided to jump on board with Weston, Gellin responds, “Weston’s reputation is unsurpassed. It’s a pleasure to be part of this team.”
Source: Weston, Inc. / #Multifamily #Apartments