Our company started with just one man, Ed Kaeding. He had a dream to build quality homes at an affordable price. In the 1970s Ed built his first houses and apartment buildings in Devils Lake, ND. They were successful projects largely because Ed was keen on running a lean organization. In fact, the construction crew generally only consisted of himself, his brother, and a friend or two.
By the 1990s, Ed had 20 rental units and had decided to move his operations to Forest Lake, MN. He built his first building, an 8-plex, in 1995. Then he maintained a steady pace until 2002. At that point he owned about 90 units. By the early 2000s the housing market was on fire, but Ed realized that this was a poor time to invest. He wisely focused on paying down debt so that he could weather the future storm that he saw coming. After the crash in 2008, Ed was well positioned for further growth.
By 2009 Ed's son, Mike Kaeding, started to play a more significant role in the development of the company. Ed, Mike, and their wives ventured to start building a 120 unit complex. This was an intense undertaking for the small company. The project was scheduled to be completed over four phases. By the fall of 2014, their dream and hard work paid off upon the completion of this large complex.
At the start of this larger project came the realization of how important it was to build a strong team. Over the years we’ve built up an incredible core team to help us achieve our goals. We are now developing other areas of the Minneapolis and St. Paul area. Our hope is to continue to provide quality yet affordable multi-family housing. The future looks bright and we’re excited for the journey ahead.