{ Banner Image }

Gregory J. DeMars Addresses Challenges for Southeast Michigan Builders

May 28, 2008

Gregory J. DeMars, a partner in the Real Estate practice group at Honigman Miller Schwartz and Cohn LLP, will participate in a panel discussion on surviving the economic contraction facing regional builders on June 17.  The panel is part of the Building Industry Association of Southeast Michigan’s next general membership meeting.

Titled “Innovative Strategies for Surviving 2008,” the discussion will provide builders with advice on lender workouts, “building your way out of financial difficulties,” construction loans, appraisers and other issues important to those in the construction and development fields.  DeMars is planning to discuss two topics: “What could a developer have done to shield themselves from this downturn?” and “When will this market turn around?”

“This is a very difficult crisis to predict for the average developer,” DeMars said. “While options are still available, it would be wise for clients to work with a team of experts that know how to successfully negotiate with banks and creditors.  In Michigan, it could be another few years before things turn around for single-family home developers.”

DeMars is a three-time graduate of Wayne State University, earning a bachelor’s degree in 1977, a master’s degree in 1979 and his juris doctor from Wayne State’s Law School in 1981.  Widely recognized for his knowledge of the real estate field, DeMars represents Honigman clients in all types of real estate transactional work with extensive experience in work out representation.  He lives with his wife Phyllis in Grosse Pointe Shores, Mich.

About Building Industry Association of Southeast Michigan (BIA)

The Building Industry Association of Southeast Michigan (BIA), based in Farmington Hills, Mich. is a non-profit organization for the home building industry and members include builders, remodelers, property owners, developers and suppliers to the single-family and multifamily residential construction industry.  Its membership of 2,000 companies is affiliated with the Michigan Association of Home Builders in Lansing and the National Association of Home Builders in Washington, D.C.

For more information about the BIA, or to register for the event, please contact
(248) 862-1033 or online at www.builders.org.