FOR IMMEDIATE RELEASE
March 4, 2008
Contact: K.E. Schwab
Pittsburgh business leader brings ideas for company growth to SRU
SLIPPERY ROCK, Pa. - Pittsburgh condominium community developer Paul Scarmazzi will offer details on the success of his business and his view of the future housing market when the Slippery Rock University School of Business continues its "Success Starts Here" lecture series Feb. 28.
The 12:30 p.m. address will be delivered in the Advanced Technology and Science Hall as part of the ongoing series offered in conjunction with the Pittsburgh Business Times.
Scarmazzi, who inaugurated the SRU series in 2006, is president and owner of the Pittsburgh-based Hawthorne Partner Inc.
"The series is designed to bring regional business leaders from throughout western Pennsylvania to campus to encourage and motivate students and graduates to remain in the region and consider business opportunities that will contribute to the local economy," said Bruce Russell, dean of SRU's College of Business, Information Science and Social Sciences. "We hope by seeing models of others' success, our students, our graduates and those from other regional colleges, as well as others in the community, will make use of the information. We hope they will apply the information to ideas they may have for opening or operating a successful business in the regional community, including Slippery Rock and Butler County."
Scarmazzi and his wife, Lisa, are developers and managers of several lifestyle condominium communities, south of Pittsburgh. They saw opportunity to create condominium communities for aging baby boomers. The Business Times reported the company has seen phenomenal results, including a 599.83 percent growth from 2004-2007.
The company's first construction projects have been sellout as those reaching their late-50s see the advantage of ranch condos, or those who have raised their children seek more carefree living available in condominiums.
Scarmazzi, a former banker, examined the figures and saw increasing numbers of people reaching age 60. He saw them all as potential customers and teamed with a Columbus, Ohio, company that franchises home and community layout designs, bringing the concept to Pittsburgh.
In a Pittsburgh Business Times interview, Scarmazzi said, "The hard thing is to identify an unmet need. You need to do proper research and analysis; you have to identify an unmet need; and finally decide whether you can meet that need profitably."
At his SRU lecture, Scarmazzi is expected of offer his predictions for future home construction and condominium development in light of the downturn in the nation's housing market and in view of the tightening credit crunch.
Slippery Rock University is Pennsylvania's premier public residential university. Slippery Rock University provides students with a comprehensive learning experience that intentionally combines academic instruction with enhanced educational and learning opportunities that make a positive difference in their lives.
PN, PGN, WPN, PR