Harrisburg Real Estate Firm Uses Recession to Expand

HARRISBURG, Pa., May 21 /PRNewswire/ -- Local real estate company, Triple Crown Corporation, took advantage of a down real estate market in 2009 to increase their property holdings in Central Pennsylvania.

The company acquired six new development sites for new single-family residential homes, townhomes, and a recreational complex in the Harrisburg area.

Triple Crown Corporation weathered the down housing market thanks in part to revenue from rental properties that propped up lagging new home sales.

"Our rental communities are a strong part of our business strategy," says CEO Mark X. DiSanto. "People rent when they don't buy, and we were able to take advantage of that."

Despite this success, the company developed only one of the six 2009 acquisitions below into an additional rental property:

2009 Triple Crown Acquisitions

January - The Enclave in Camp Hill (Luxury townhomes)

March - Colonial Golf & Tennis Club in Lower Paxton Township (Recreational complex)

August - Foxwood in Silver Spring Township (Single-family homes)

September - Mountaindale in Susquehanna Township (Apartments)

October - The Manor at Westport in Lower Allen Township (Single-family homes)

December - Brookmeadow in Silver Spring Township (New townhomes)

Triple Crown also opened a Design Center in April 2009 that helps prospective buyers customize the features of their new home, including siding, floor tiling, cabinets, bathroom accessories, and staircase styles.

Although new home sales were lacking when the Design Center opened in spring of last year, it was a play for the future.

"We figured that our new home sales would bounce back -- and they have -- and now we have a head start in reaching new home buyers while the market picks back up," continues DiSanto.

The company has weathered four recessions since its inception in 1977, including the savings and loan crisis of the 1980s and the dot-com bubble in the late 1990's.  DiSanto attributes his company's success to a continued commitment in delivering best-in-class services and emphasizing quality over quantity.

The company celebrates its thirty-third anniversary on June 27th.

Triple Crown Corporation is a real estate development and property management company providing real estate services to Harrisburg, PA and the surrounding area. The company offers apartments for rent, new home sales, luxury townhomes, commercial real estate, and other services throughout Central PA.

Press Release Contact Information:

Karen Jordan

Marketing Manager

Triple Crown Corporation

717.657.5729 x129

[email protected]

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SOURCE Triple Crown Corporation