Summit Contracting Group is the #1 multifamily builder in the country, with 9,065 units started in 2019. This recognition is published by National Multifamily Housing Council’s (NMHC) 2020 NMHC 50. For the past three decades, the NMHC 50 rankings have remained a key industry benchmark and resource.
“We are more proud than ever to be a part of the multifamily industry, especially during the global pandemic that we are experiencing right now. People need a place to live and there are few industries more rewarding than helping provide others with a special place they can call “home.” We are once again honored to be ranked in the NMHC50 alongside the best in the business, and we are grateful for the advocacy that NMHC provides for the multifamily industry.”
– Marc Padgett, President, Summit Contracting Group
Summit is Planning Ahead with Innovation in Garden Style Multifamily Construction
At the heart of Summit Contracting Group’s success is our focus on relationships with clients, employees and subcontractors. For the future of our relationships and the multifamily industry, we are looking ahead and improving the way we build all the time.
Over the course of the past 3 years, Summit has been developing options for a garden style product with an emphasis on maximizing rentable space and strategically designed, with a focus on what renters appreciate the most: high quality finishes. We are calling it the Summit Prototype Program.
Saving Time and Money for Multifamily Developers
The Summit Prototype Program has been able to save our clients both project schedule time and vertical construction costs by leveraging buying power, pre-negotiated pricing with national suppliers, and strong subcontractor relationships. We created this program in concert with our subcontractors, vendors, leasing and architectural relationships. This program has resulted in what is likely one if the most sensibly and efficiently designed multifamily products on the market today geared toward projects ranging from Market Rate A+ to Affordable Housing.
The Prototype projects pricing currently appear to be averaging around 5-10% less than a custom designed development with compatible finishes, unit mixes and average square footages. One thing that has been most appreciated by our clients is the ability to have very accurate cost forecasting from virtually day one. In most cases the prototypes are “pre-priced” with the exception of a few project specific allowances. This cost savings, alongside an accelerated project schedule, combined with the ability to very precisely forecast cost has helped to create development opportunities that may not have otherwise been feasible.
We have a number of projects scheduled to start this year that are implementing our Summit Prototype Program. The first two of these projects started construction already: Reserve at Oakleaf in Jacksonville, FL and NOVO Mauldin in Mauldin, SC.
About NMHC 50:
The NMHC 50 is the National Multifamily Housing Council’s authoritative ranking of the nation’s Top 50 Apartment Owners and Top 50 Managers as well as the Top 25 Developers, Top 25 Builders and Top 10 Syndicators. NMHC partners with Kingsley Associates, a leading real estate research and consulting firm for the NMHC 50’s research and analysis. NMHC is the place where the leaders of the apartment industry come together to guide their future success. With the industry’s most prominent and creative leaders at the helm, NMHC provides a forum for insight, advocacy and action that enable both members and the communities they build to thrive. For more details about the NMHC, visit www.nmhc.org.