Diddy enters real estate bidness?

Sean “Diddy” Combs’ Sean John imprint may soon become synonymous with real estate.

Ohio-based Reynolds Family Homes, which has become known nationwide as the “hip-hop builder” for giving their home models names like “P-Lo,” “Platinum Grillz” and “Bling Bling,” are currently seeking an agreement with Bad Boy Worldwide Entertainment Group to license the name “Sean John” for one of its models.

“We have already contacted Mr. Combs’ office,” said Tony Reynolds, founder of Reynolds Family Homes, via a statement. “I felt we needed a name for our 3000+ sq ft model that will exemplify the class, drive and determination of a young Black executive. Immediately Mr. Combs comes to mind.”

Last year, Reynolds Family Homes launched their naming scheme to appeal to young urban professionals after President Bush called for young minority home ownership to rise, and not just in relation to Hurricane Katrina. Reynolds signed an agreement with real estate developer Window Rock Capital Corporation to finance the development and management.

“Our first priority is building fine, quality affordable housing,” Reynolds added. “Tinkering with the naming scheme hasn’t had any negative impact. It’s not like I have a Fitch ‘AA’ rating to be concerned with.”

2006 is shaping up to be a memorable year for Diddy. He was recently named hip-hop’s top money maker by Rolling Stone and will be showing off his culinary skills on NBC’s latest reality show “Celebrity Cooking Showdown.”

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