We learned a lot of lessons over the past ten years, and we’ve since positioned ourselves for sustainable growth.
RALEIGH, N.C. (PRWEB) November 19, 2019
Capitol City Homes, a Raleigh-based homebuilder, is celebrating ten years of building homes in the Triangle and surrounding areas.
With over 70 years of combined new home construction experience, owners Jason Morrow, Trey McDonald, and Glenn Hartman started the company with a limited staff and only five home closings. Capitol City Homes has since expanded to 21 employees and have built more than 700 homes in over 30 communities.
“If you look at our company from its inception, we went from five closings per year to 77 closings per year in only three years. We grew rapidly, and we didn’t expect it, so we weren’t prepared,” said Morrow. “We had growing pains. We didn’t have processes or departments in place and didn’t have nearly enough land opportunities to keep pace with demand. We learned a lot of lessons over the past ten years, and we’ve since positioned ourselves for sustainable growth.”
Capitol City Homes is a steadfast regional builder, building quality homes, and supporting their employees and their community while remaining strategic and agile. Capitol City Homes is thriving in a big-builder atmosphere. “We know our costs,” says McDonald. “If you run a business without knowing what everything costs, you can’t be successful. Plus, we constantly communicate with each other internally and take customer service seriously.”
There are still challenges Capitol City Homes faces, such as the acquisition of affordable land, so they purchase property in rural areas in towns including Roxboro, Wilson, Angier, Fayetteville, Mebane, and Zebulon. Home prices in Capitol City Homes neighborhoods range from $150,000 – $1million+. “We teamed up with Rex Vick, a regional developer, in the Spring of 2014,” said Morrow. “Rex brought 20+ years of development experience and a network of new contacts for land opportunities to Capitol City Homes. When you couple those assets with what we already had in place – it’s a great relationship that has really helped us grow.”
Although Capitol City Homes has had their share of challenges, the company has strengths that most national building companies don’t. “We’re nimble. If we make a decision, we make it quick. If the ship needs to turn, we turn it. There are no layers of management to navigate,” says McDonald.
Being an insider in the business helps—the company has established productive and successful relationships over its 10-year history with local lenders, government officials, developers, and subcontractors. In turn, these relationships allow more opportunity to buy land and grow the company. When Capitol City Homes builds more homes, more jobs are available. “Think about how many subcontractors touch a home transaction, from the clearing of the lot to the closing of the home,” Morrow says. “We utilize approximately 139 subcontractors throughout the construction process. That’s a lot of jobs being created.”
Capitol City Homes continues to grow in this up-and-down housing industry. “We’re smart but ‘simple-smart.’ We don’t over-evaluate buying lots, it either works, or it doesn’t,” says McDonald.
Service to the community is essential to Capitol City Homes. The company recently sponsored their 4th annual golf tournament to support childhood disease, with all of the money donated going to a local family working to make ends meet with medical bills.
“Our friends’ son was diagnosed with cancer, and we wanted to find a way to help,” said Morrow. “We raised $17,000 for the family our first year and have increased that amount each year for other families, raising just over $30,000 last year. Our 2019 recipient, the family of a six-year old boy, was just given a check for $43,750 to help with medical expenses.”
For more information about the 4th annual charity golf tournament, visit http://www.capitolcitycares.com.
This year, Capitol City Homes is predicting to close 150-175 homes in 15 open communities, and they have 600 lots on the books through 2021.
About Capitol City Homes
Founded in 2009 by Triangle area construction professionals with more than 70 years of home building experience, Capitol City Homes was formed to change the way homes are built. By operating from a philosophy that customers should have what they want in a home at a fair price, the company has created new processes and efficiencies that allow for more choices than a traditional builder. Capitol City Homes builds new homes from the $150s to more than $1 million in the Triangle and throughout North Carolina including Wake, Franklin, Johnston, Orange, Chatham, Craven, Cumberland, Person, Wilson, and Alamance counties and are building in more than two dozen communities. For more information, please visit http://www.CapitolCity-Homes.com.