Doran Cos., one of the fastest-growing local construction companies, has a new CEO and big plans for expansion.
The Bloomington-based company said Monday that Scott Stenman, who played a leading role in the construction of U.S. Bank Stadium in Minneapolis, will lead Doran Construction and Architecture, effectively succeeding founder Kelly Doran, who will focus on property development and business growth.
The move is also aimed at facilitating a national expansion. The company recently opened an office in Denver, where it already has three employees after landing a $40 million construction project. Doran is also contemplating expansion into a third market, likely Tampa.
"He's been described by a number of people as being one of the smartest construction guys they've ever worked with and we expect he'll do big things for our organization." Doran said of Stenman. "He has the opportunity to take the company where he wants it to go."
Doran said that during the past five years the company has grown from 30 to 140 employees who are divided among several entities, including those who focus on development, architecture, construction and management.
The company has developed several commercial projects, but the bulk of the company's business right now is multifamily, mostly luxury rental apartments. After building hundreds of units near the University of Minnesota, the company has shifted its own development efforts to suburban markets that have been underserved during the latest boom.
Doran has projects underway in Brooklyn Park, Hopkins and Maple Grove. The company is also general contracting several apartment buildings for other companies, including Sherman Associates, Graves Hospitality and Bigos Management.
The company has 1,200 units under construction, including 750 units that will remain in the company's portfolio.