Builders Bank on Location

THE FLINT JOURNAL FIRST EDITION
Friday, October 19, 2007
By Matt Bach

HOLLY TWP. - Steve Berges of Symphony Homes knows about the sluggish housing market, but he chooses to focus on the bright side of things. So there he was this week smiling as he and fellow members of Davison-based Symphony Homes officially celebrated the opening of their newest residential development - Riverside
North of Holly in Holly Township.

"Instead of focusing on what's wrong with Michigan, we prefer to focus on what's right with Michigan," Berges said.

"Our outlook of the local economy is perhaps much more favorable than that of others."

Berges sees the many home for sale signs throughout the area, but he also sees the new $600 -million McLaren Health Care Village at Clarkston currently under construction at Sashabaw Road and Bow Pointe Drive.

He said that project is expected to create 3,000 to 4,000 new jobs. That project is just 10 to 15 minutes south of Riverside North and it should have a positive impact on the area and the subdivision.

"Surely we will be well positioned to capitalize on that expansion," Berges said.

The company had a ribbon cutting ceremony this week at Riverside
North. The site has 84 lots that will be available. Completion is expected to take three to five years.

The project is being done in conjunction with Silverman Development, said Berges, chief financial officer for Symphony Homes and Preferred Mortgage.

Construction started in April on the first new home and the company has sold five out of six new homes that have been built there.

He said company officials are optimistic about making the project a success despite the area economy for several reasons. Those reasons include a good location five minutes west of I-75 off exit 101 and 10 minutes east of US-23; affordable price range starting from $150,000; professionally developed community by Silverman with wooded home sites available; low Holly area tax millage rate; close proximity to major employers, shopping, recreation; and an excellent school system with low student/teacher ratio and a new high school.

"The only thing holding many of these families back from purchasing a new home is the need to sell their existing house," Berges said.

To address that concern, Symphony Homes has created a trade-in, trade-up program where Symphony will either sell or buy a person's existing home in exchange for them buying a Symphony home.

Symphony Homes was founded in 2001 by Berges and Don Mahoney, the company's chief executive officer.

They have over 25 years in the real estate industry and have built the company into one of southeast Michigan's fastest growing new-home builders. The company has grown from zero sales in 2001 to a projected $10 million-plus in sales this year, according to company officials.

The company has more than 30 employees today.

Symphony Homes has other developments in Burton, Clarkston, Davison, Goodrich, Grand Blanc and Lake Orion.