Dominion Homes Announces Expansion into Lexington Market.Business Editors LOUISVILLE, Ky.--(BUSINESS WIRE)--Oct. 1, 2003 Dominion Homes (Nasdaq:DHOM), one of the top 30 homebuilders in the country, announced today that the Company has selected Lexington, KY as its next expansion market. "As we looked at expansion opportunities, Lexington was the most appealing for several reasons," Steve George Steve George may refer to:
adj. Not satisfied or fulfilled: unmet demands. demand in Lexington for higher quality, medium priced single-family homes. In addition, Lexington's continued growth, historically strong economy, and demographic profile A demographic or demographic profile is a term used in marketing and broadcasting, to describe a demographic grouping or a market segment. This typically involves age bands (as teenagers do not wish to purchase denture fixant), social class bands (as the rich may want make the market very attractive to us," George said. Dominion Homes is a developer of well-designed communities and a builder of quality single-family homes. The Company expects to initially build homes in the $125,000 - $300,000 price range. Dominion prides itself on using custom-like, quality building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . , such as hand-built structurally-engineered floor trusses and category 5 wiring, and the best name brand components, like Anderson(R) wood windows, Kohler(R) plumbing fixtures, GE(R) appliances and Trane HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free systems. The Company hires local construction subcontractors and crews to build their homes and developments. Dominion anticipates that they will create about 300 jobs in the Lexington area over the next five years. Dominion Homes has reviewed a number of prime sites in the Lexington area, has agreements to acquire a few parcels of land, and is actively pursuing the purchase of additional sites. They expect to start land development by the end of the year, with their first model home opening in Spring, 2004. The Company's new office will open in late November where George, as President of the Kentucky region, will be overseeing the expansion project. "Our company has a successful development philosophy which allows us to maintain our high community standards Community standards are local norms bounding acceptable conduct. Sometimes these standards can itemized in a list that states the community's values and sets guidelines for participation in the community. . People will come to recognize our well-maintained, signature entries, and for the way we preserve the aesthetics aesthetics (ĕsthĕt`ĭks), the branch of philosophy that is concerned with the nature of art and the criteria of artistic judgment. of the surrounding area," George said. The Company, which celebrated its 50-year anniversary in 2002, is headquartered in the Columbus area, and is publicly traded on the Nasdaq Exchange (symbol DHOM). Dominion Homes currently offers four series of homes that are differentiated by size, price, standard features and options. The Company's building philosophy focuses on "The Best of Everything(R)" for its customers. With homes ranging in price from $100,000 to $300,000, Dominion has built homes for more than 21,000 Ohio and Kentucky families. Dominion Homes currently has more than 50 locations and offers a wide selection of floor plans designed to fit the lifestyles and budgets of every customer it serves. Log on to www.dominionhomes.com for more information. |
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