DEVELOP YOUR PROPERTY
Penna Real Estate Group LLC is an aggressively growing real estate development firm, specializing in single-family residential developments in the greater Detroit metropolitan area. In an impressively short period of time prior to and following the “Great Recession” the principal in Penna Real Estate Group has acquired, entitled, developed, has under construction or sold land which encompasses over 500 residential lots, 100,000 sf ft of medical space and over 90,000 sq ft of commercial space.
Anthony Penna, the principal of Penna Real Estate Group, is an attorney by trade with over 13 years of experience specializing in rezoning & land use issues. He has been involved in the planning, rezoning, and site plan approval of well over 2,000 acres involving large PUD’s, Residential Subdivisions, Multi-Family developments and Commercial tracts. His vast legal real estate experience naturally allows him to navigate quickly and efficiently through governmental agencies ranging from the MDEQ, Public Work Departments to local planning departments. He speaks their language!
Penna Real Estate Group is not just buying, entitling and flipping land….We are building infrastructure and we are good at it! Penna Real Estate Group has an extensive and reliable list of contractors it works with to ensure its developments are delivered on budget and in a quality and timely manner. Our development capabilities are highlighted in our most recent residential development called Park Terrace located in Shelby Township, MI. The site consists of a smaller 46 lot boutique subdivision; which most developers passed on because of the 20ft elevation change and high water table located on the site. However, with proper planning and development work we were able to import over 100,000 sq ft of compactable material, balance the site, fill a pond and build roads and lots on property many thought was unbuildable. Penna Real Estate Group received a 2017 Shelby Township Business Award for the extraordinary development work it displayed at Park Terrace.
Anthony Penna’s proven and stable real estate development track record has allowed an endless stream of funding for projects. His funding contacts range from various institutional lenders to private equity investors.
In June 2017, Tony Penna was recognized during the Sterling Heights Regional Chamber of Commerce’s first Shelby Township Business Awards ceremony. Tony and Park Terrace were honored for redeveloping a former private golf course lot. This development was a 46 single-family homes project, which was built next to River Bends Park and the hike and bike trail that connects the township to Lake St. Clair. Click to read more…
38600 Van Dyke, Ste 300
Sterling Heights, MI. 48312
Please feel free to contact us using the contact form with your comments, questions, or to inquire about our services.