Steven Streeter, president of Streeter Custom Builder, is leading the Wayzata-based company through an uptick in projects, an updated leadership structure and adjusting to working remotely in light of the coronavirus pandemic.
No clients have canceled jobs since the pandemic began, Streeter said. The company, meanwhile, has picked up a half-dozen jobs and had three multimillion-dollar home projects go from on hold to active in recent weeks.
Minneapolis’ 2040 Comprehensive Plan, which eliminates single-family zoning and allows for more duplexes and triplexes, also is driving new business, Streeter said.
“The environment always seems to surprise you,” Streeter said.
Streeter Custom Builder upgraded computers in January, making working remotely easier, Streeter said. Most of the 50-plus employees work at home with a few working in individual headquarters offices. Some on-site meetings still take place but most are through videoconferencing.
Streeter founded the company in 1985 with brothers Donald and Kevin. A fourth brother, Mark, joined some years later.
Streeter’s Signature division specializes in building luxury homes starting at $4 million. Its Elevation division builds custom homes starting at $1.5 million. Other divisions do custom home renovations and condominium build-outs.
The company this year rebranded to bring the former Elevation Homes division under the Streeter name, leveraging design and building processes and partner and supplier networks Signature and Elevation each had developed.
Next-generation leaders are moving to the forefront in 2020 as well, with Nate Wissink serving as vice president and director of business development, Bill Costelloas director of operations, Kevin Hilgers as director of project management and David Bohnsack as director of field operations. Kevin Streeter is a part-time field operations consultant after having retired.
Steven Streeter continues to work with clients, in sales and in maintaining relationships with architects and other partners. He also is project manager on homes being built on adjoining lots for a longtime client and the client’s son.
Q: What distinguishes Streeter Custom Builder in the custom homebuilding market?
A: The common thread has been our core values and the culture of quality that we really believe in. The other thing is our passion for design and collaboration with architects and landscape architects. It’s our passion for design and making everything the best you can make it.
Q: How are you taking advantage of Minneapolis’ 2040 plan?
A: We have three sites where we can do triplexes, but they’re going to be really beautiful, architectural ones. Not everybody is going to fit in a condo, not everybody wants a single-family house. You’ve got to look at the future, and density is going to be pushed going forward. With the right type of multifamily done right, it’s going to be a good market.
Q: What is the company’s growth potential?
A: There’s great potential, but we’re not looking to double our revenue. That’s not what we want to do. You’ve got to be careful about whether there are enough trade partners to handle our type of work. We want to keep the passion for design and the culture of quality. There aren’t enough people going into the trades, so you’ve got to monitor what you want to be about. That’s all about taking the right projects, the right fit and not burning out your employees.
Todd Nelson is a freelance writer in Lake Elmo. His e-mail is email@example.com.