MOUNTAIN LAKES, NJ—Before Legacy of Mountain Lakes could become the successful townhome community that it is today, the project required an assessment and repositioning for it to reach its full market potential, says Michael A. Kehl, president of Marketlogics, an independent firm that specializes in property development research.
Three years ago HornRock Properties of Paramus acquired the partially completed development in Morris County from a bank. HornRock saw an opportunity to develop a new signature residential project in a prestigious community that could produce high returns. To properly position the project, the developer turned to Builder Marketing Services, which provided target marketing, merchandising and sales.
Marketlogics, a wholly owned subsidiary of Builder Marketing Services, was brought in to evaluate market conditions and determine what type of product would best fit homebuyers' needs.
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