Echelon focuses exclusively on third-party management for ownersin Colorado, banking on the company's expertise in the local marketas a competitive advantage. "We believe being here in Denver andunderstanding the Colorado market is a valuable differentiator tolocal individual owners, ownership groups and lenders withunderperforming multifamily communities," Stern says.

Stern says that Echelon aims to serve "an underserved niche inthe market for local management." Powell adds that the new companysees itself as "an alternative to the large national firms" andwill rely on its understanding of the local market to bring "anowner's perspective and intimate local knowledge."

In addition to principals Powell and Stern, the Echelonexecutive team includes vice president of operations MeredithWright and regional property manager Joe Saunders. The team membershave worked together for nearly 10 years for owners and managersthrough acquisitions, extensive renovations, tax creditdevelopment, management, condominium conversions, receivership andasset management.