Builder/Developer Activity Points to Recovery!
Editor's Note: After a lengthy period of receiving many press releases about doom and gloom and very few news items reporting anything positive about the homebuilding industry, your Building SAVVY editor is pleased to some change. Scouring other news media resources for hopeful news about our industry has been like looking for the proverbial needle in the haystack. But even the most sour of columnists cannot ignore the sweet smell of recovery evidenced by recent activity occurring across every corner of our marketplace.
Among the examples of companies determined to make adjustments to position themselves ahead of the pack as recovery begins to unfold is Dallas-based American Legend Homes (ALH). ALH closed 234 homes in 2010, a 28 percent increase—up from 182 homes in 2009. Most importantly, these additional closings resulted in a 32 percent revenue increase over the prior year. Price diversity seems to be a key factor, with ALH reporting strong interest across all price points from the $160s to the $600s and its sister company Belclaire picking up from there by offering luxury custom and semi-custom homes from $600,000 to more than $1 million.
Company officials are on track for continued growth in 2011 as ALH expands into several new DFW communities. Growth in 2010 included American Legend's expansion into Frisco's Stonewater Crossing and Lantana's Magnolia neighborhoods. ALH also saw increased sales within the master-planned community of Castle Hills, and had a strong presence in McKinney's The Heights at Westridge, Fort Worth's Ridgeview Farms and Little Elm's Paloma Creek. 2011 sales are also coming in from the master-planned Tribute community (surrounded by 23 miles of
shoreline at Lake Lewisville and within the exemplary-rated Little Elm ISD), McKinney's Heatherwood (within the acclaimed Prosper ISD) and Sachse's Heritage Park (with easy access to the George Bush Turnpike). ALH's upper end Belclaire Homes has been active in the Castle Hills community of North Dallas and Frisco's Chapel Creek.
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Dunhill Homes will emerge another leader in the recovery with the expansion of its homebuilding operations in Dallas/ Fort Worth. Dunhill entered the Fort Worth market last April with the Grand Opening of Lakes of River Trails - East, located near I-820 and Trinity Boulevard. In addition, Dunhill Homes is also expanding in North Dallas at Heritage Bend located just 1.5 miles west of I-75 and right off Highway 380 in McKinney. Home prices in the Fort Worth development will start in the low $200s and in McKinney from the $180s.
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Land developers provide another strong signal of marketplace confidence. GTIS (formerly known as Goldentree Insite Partners) has partnered with LGI Homes in Dallas and San Antonio to buy land to fuel LGI's fast-selling growth. Now GTIS has teamed up with Hines, a privately owned real estate firm based in Houston, to develop and finish out 500 single-family homes on more than 200 acres in Southlake and Las Colinas.
The Southlake project, known as Carillon, is a mixed-use master planned development that was formerly a commercial site now
(Continued on page 6) MARK YOUR CALENDAR
HBA's Dallas Division lunch (1st Thursday of each month)
GFWBA's Parker County Division lunch (2nd Thursday of each month)
HBA's Ellis County Division lunch (3rd Wednesday of each month)
HBA's Metro East Division lunch ( 3rd Thursday of each month)
HBA's Denton County Division lunch (4th Tuesday of each Month)
HBA's North Dallas/Collin County Division lunch (4th Wednesday of the month)
Be sure to check
fortworthbuilders.org and
dallasbuilders.org to confirm summer meeting schedules as some regularly scheduled meetings may be suspended during summer months!
4 GREATER DFW METROPLEX BUILDING SAVVY MAGAZINE Vol 3 2011
NATIONAL, STATE & REGIONAL INDUSTRY NEWS
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