There are lots of signs that real-estate development in Detroit is back, from rising home prices to the construction of the M-1 Rail line moving ahead at full steam. And then there is growth of an infrastructure consulting firm like Giffels Webster.
The downtown Detroit-based firm has watched its revenue grow by up to 40 percent over the last five years, including a 15 percent jump over the last year. Its staff has spiked from 55 people in 2010 to 86 people today, including 10 new hires. It also promoted three of its managers to partners in a move to assure its future growth.
"We have had a very sustained growth over the last five years," says Scott Clein, president of
Giffels Webster.
The Giffels Webster team is made up of everyone from civil engineers to landscape architects to city planners to surveyors. The firm typically handles the macro end of real-estate development, such as helping municipalities figure out long-range development plans or developers maximize what they can get out of redeveloping property.
Work typically divides into public works and private land deals. The public portion has played a critical role in the firm’s growth, providing a solid base for it to profit from.
"It helped keep us on an even keel during the recession," Clein says.
But the private land portion is where the growth is at today.
"There has been great growth on all segments," Clein says. "But it has been mainly driven by the private-land side."
While Giffels Webster has enjoyed private-sector growth at its satellite offices in Macomb and Oakland counties, its Detroit work, most of which is coming from redevelopment of existing buildings and even some new build work, is leading the way.
Source: Scott Clein, president of Giffels Webster
Writer: Jon Zemke
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