Brookstone Homes Announces New Multifamily Projects

May 31, 2006 - Brookstone Homes, Inc. has announced the creation of a new condominium division in an effort to expand into the rapidly growing multifamily market. Brookstone Homes expects to have approximately 24 units available by the end of this year in and around the greater Madison area.

“Our expansion into the multifamily market is essential to the future growth of our organization,” says Dave Lopykinski, division manager for Brookstone Homes Condominiums, LLC. “With interest rates rising and price becoming more of an issue for buyers, it is important that we have an affordable option to compliment our current single-family offerings. Condos are a very popular option for buyers to easily transition from renting to owning.”

Brookstone Homes expects to begin construction next week on their first multifamily development, Poplar Creek, located in the city of Madison in the American Family Industrial Park. Brookstone Homes will offer 51 single-story units at Poplar Creek ranging in size from 1612 to 1807 square feet with prices starting in the mid $180’s. A total of 27 units have already been completed and sold by a previous developer.

Two other multifamily projects are currently in the development stages for Brookstone Homes. Parkside Commons, located in the city of Lake Mills, will offer 127 condominium units; and the Commons at Highland Ridge, a 70-unit development, will be located in the city of Columbus. Both projects are expected to break ground later this summer.