CLEVELAND--(BUSINESS WIRE)--Steve Kimmelman and David Conwill, founding principal and president of Redwood Living, Inc. (Redwood), were named winners of Ernst & Young’s Entrepreneur Of The Year for Northeast Ohio among 26 other finalists. The Entrepreneur Of The Year awards program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance and personal commitment to their businesses and communities.
Reinventing the Suburban Apartment Home
Redwood began in 1991 when developer Steve Kimmelman recognized an emerging need: 76 million baby boomers would begin to downsize in the next few decades. Where would they go?
Realizing that so many Americans would be seeking to unburden themselves from home ownership, Mr. Kimmelman saw an opportunity to create a new type of residential rental product that offered the experience of a single-family home without the obligations and complexities of home ownership.
Determined to give renters what he believed they deserved and wanted, Mr. Kimmelman purchased and managed five rental communities and even moved into one of them to truly understand the needs and wants of residents.
The Eureka Moment
While living as a renter himself, a vision emerged of a neighborhood of single-story apartments uniquely featuring attached garages and two-bedrooms with peace and quiet built in and no one living above or below. No shared elevators, no shared hallways or elevators, and no stairs to climb. In 2002, Mr. Kimmelman met Mr. Conwill, a young and ambitious leader whose tenacity and business acumen would not only help the pair realize their vision but would drive their business through the worst economic climate our nation had seen for real estate.
Do One Thing Really Well
Today, Redwood is proud to have delivered 7,000 of their reinvented apartments with just as many currently under development. The now company of 310 employees centers on the strategic development of high quality, single-story apartment homes with private attached garages. The company focuses specifically on the single-story, open-floor plan, attached garage design and believes that the growth of the “renter-by-choice” population demands the response that Redwood provides. The success of this approach continues to be validated in new markets. In 2017, Redwood is a fully-integrated development and management company, with communities in Ohio, Michigan, Indiana, Iowa, North Carolina and South Carolina.
“It’s an honor to be recognized among so many talented and well-deserving colleagues,” said Kimmelman, founder of Redwood. “We would like to share this award with our team of loyal, dedicated and talented employees, who demonstrate Redwood’s commitment to deliver more than is expected, communicate openly and honestly and exhibit integrity in all aspects of our business,” added Kimmelman.
“We are thrilled to receive such an honor among such a rich and distinguished mix of Northeastern Ohio entrepreneurs,” said David Conwill, president of Redwood. “The prestige offered by the Ernst & Young Entrepreneur of the Year Awards further underscores the value and innovation that our esteemed peers provide this community and beyond,” he added.
Now in its 31st year, Ernst & Young’s Entrepreneur Of The Year program has expanded to recognize business leaders in over 145 cities in 60 countries throughout the world. Regional award winners like Kimmelman and Conwill are eligible for consideration for the EY Entrepreneur Of The Year national program. Award winners in several national categories, as well as the EY Entrepreneur Of The Year Overall National Award winner, will be announced at the annual awards gala in Palm Springs, California on November 18, 2017. The US Entrepreneur of the Year Overall Award winner then moves on to compete for the World Entrepreneur Of The Year Award in Monaco in June 2018.
Redwood Living, Inc.
Redwood Living Inc. is a company that believes in our mission, product & our amazing people. We create a simplified, relaxed lifestyle for our residents, and we offer a challenging and rewarding atmosphere for our employees. We build pet-friendly, single-story apartment home communities in Ohio, Michigan, Indiana, Iowa and South Carolina. For more information, visit http://www.byredwood.com.