WASHINGTON, D.C. (PRWEB) May 10, 2016
Hanley Wood, the premier information, media, event, and strategic marketing services company serving the residential, commercial design and construction industries, announces that Level Homes is the recipient of the Fastest-Growing Private Builder Award in the Next 100; Wade Jurney Homes has been awarded the Fastest-Growing Private Builder Award; AV Homes has been named the Fastest-Growing Public Builder; and CalAtlantic Group was named the 2016 Builder of the Year. These awards will be presented at the 2016 Housing Leadership Summit, May 16-18, at the Ritz-Carlton in Dana Point, Calif.
“This year’s crop of honorees cracked the code of fast growth and solid income gains in a muted, slow-going recovery,” said John McManus, Editorial Director of Hanley Wood’s Residential Construction Group. “Hanley Wood salutes these award recipients for their commitment to teamwork, operational excellence, and serving customers’ evolving needs.”
Fastest-Growing Builder in the Next 100: Level Homes
Southern builder Level Homes’ commitment to smart, well-planned growth is what made it stand out as the fastest-growing builder in this year’s Next 100 list. The Baton Rouge, La.–based company grew by an impressive 101.39% from 2014 to 2015. Level first appeared on the Next 100 in 2014, and has since climbed more than 75 spots, to No. 118. Four new communities in Baton Rouge and an 850-lot master planned community in Raleigh, N.C., contributed to its success in 2015. “We have quite a bit of opportunity to expand into sub-markets of Raleigh and Baton Rouge, and we will continue to steadily grow year over year in our core markets,” says President Ric Rojas.
Fastest-Growing Private Builder Award in the Builder 100: Wade Jurney Homes
Wade Jurney Homes, based in Greensboro, N.C., is catering to first-time buyers with success. The builder sells exclusively to the entry-level market, with prices ranging from $80,000 to $200,000 across its five regions— Raleigh, Charlotte, and Greensboro/Triangle in North Carolina, the coastal Carolinas, and Southwest Florida. “We value-engineer our homes, making the products and procedures as efficient as possible,” says President Wade Jurney. In this year’s Builder 100, Wade Jurney Homes moved up 30 slots to No. 60, growing from 437 closings and $60 million in gross revenue in 2014 to 690 closings and $96 million in revenue in 2015. The firm expects to reach 1,100 closings in 2016.
Fastest-Growing Public Builder Award in the Builder 100: AV Homes
Scottsdale, Ariz.–based AV Homes closed 41 new sales in 2011; in 2015, that number jumped to 1,750, which landed it in the No. 25 spot on the Builder 100. In that time, the company completely revamped its strategy and hired former Pulte Group CFO Roger Cregg as CEO. Cregg fixed AV’s balance sheet and expanded its presence into more markets with the purchase of Central Florida–based Royal Oaks Homes and Charlotte, N.C.–based Bonterra Builders. “We invested in green-field properties in all of our markets, and we were able to capitalize on that,” Cregg says. “It’s been a combination of organic growth as well as acquisition growth.”
2016 Builder of the Year: CalAtlantic Group
The $5.7 billion merger of equals between Standard Pacific Homes and Ryland Homes—two companies born in the mid-1960s in, respectively, California and Maryland—is one of home building’s most compelling mergers-and-acquisitions narratives ever. The October 2015 merger into CalAtlantic Group pairs two multiregional firms whose re-sculpted footprint now covers 41 total metropolitan statistical areas (MSAs) in 538 active communities in 17 states, including 20 of the top 25 MSAs for new-home construction.
Combined, the two giants own or control just over 70,000 lots, a six-year supply mapped to a wide diversity of community and product price points and positions from entry level to luxury. In the 12 months ended June 30, 2015, the pro forma combined company delivered more than 12,786 homes in aggregate, with combined pro forma revenues of approximately $5.2 billion, which jettisoned the combo to a No. 5 ranking on the 2016 Builder 100.
Larry Nicholson, former Ryland CEO, and Scott Stowell, former Standard Pacific CEO, developed a bond from sitting together at industry meetings. Both are athletes; both have working-class backgrounds; both are family men; and both shared similar paths through the ranks at their respective companies. Now working together at CalAtlantic, Stowell is Executive Chairman, while Nicholson serves as CEO and President, with day-to-day responsibility. Structured as planned, Standard Pacific’s shareholders own 59% of CalAtlantic, and Ryland’s own 41%. Each group picked five members for the new company’s 10-member board.
Published by Hanley Wood, BUILDER is the authority in the residential construction industry and serves as the magazine of the National Association of Home Builders (NAHB). For more than three decades, BUILDER has provided essential news, information and resources about products, technologies, trends, regulatory requirements and best practices to help home building professionals build smart.
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