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PARAMUS, NJ-Michael and David Kasparian, brothers who have been partners in a variety of business endeavors, have formed MDK Development LLC, based here. The company’s primary focus will be in-fill, mixed-use projects in urban and semi-urban markets in the Garden State.According to Michael Kasparian, the company’s mixed-use agenda will primarily encompass multifamily with retail support. “With our housing demand at all-time highs, it is important to note that such demand is very much a function of the lack of suburban and even rural opportunities,” he says. “We have experienced increased regulation in the most densely populated state that is still growing at the rate of 80,000 and 90,000 residents a year.”"But where sites are appropriate and demand exists, we will construct facilities such as offices and even hotels,” David Kasparian adds.The brothers’ previous endeavors have included Caspar Properties Inc., named for their late father. They currently have new sites under contract in Holmdel and Wall Township, and remain partners in an apartment-retail-office complex now under construction in Englewood. Additionally, Michael Kasparian serves as a public member of the New Jersey Redevelopment Authority.

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