Marlyn Development started as a custom home builder when it was founded in 1983, but has since planted its flag in the multifamily market, building almost 7,000 new units and renovating more than 1,600 in Virginia, North Carolina, and Maryland.
Last year’s revenue for the Virginia Beach, Va.-based contractor jumped 90.7 percent to $85.8 million on the closing of 903 low-rise units. Marlyn expects 2013 revenue to match or slightly exceed 2012. Ninety-five percent of the business is focused on for-rent multifamily construction.
“It has been Marlyn Development’s philosophy of providing a quality product at a fair value that has carried our company through good times and bad,” the company said in a statement. “We work hand in hand with our clients from project inception until completion to deliver on this philosophy.”
Marlyn credits its growth to being well-versed in all types of construction from affordable to high end, and being able to navigate any type of construction financing. Project managers, superintendents, and subcontractors all work toward the common goal of making the owner and developer successful. Accomplishing that end multiple times helped establish long-term bonds to the point where Marlyn has been the sole builder for some owners and developers for more than 25 years.
“We will continue to follow our philosophy of providing a quality product at a fair value as we adapt to the changing market,” the company said regarding 2013. “Marlyn has developed a unique pricing structure that has provided nice benefits to our clients.”