New TRI Pointe Homes East Coast Division Adds Key Hires, Leverages Product Design Capabilities, Strong Local Knowledge and Relationships to Achieve Prime Growth Position
CHARLOTTE, N.C. (November 22, 2019) – TRI Pointe Homes Carolinas, a member of the TRI Pointe Group (NYSE: TPH) family of premium regional homebuilders, launched in late 2018 with the aim of bringing its signature approach to homebuilding and the homebuying experience to Charlotte and Raleigh, the No. 3 and No. 9 markets nationally.1 Thanks to a comprehensive strategic land plan and a seasoned local management team bringing innovative product designs, the homebuilder controls 1,339 homesites just 12 months later.
“Charlotte and Raleigh have so much to offer homeowners, from their diversified employment sectors and more attainable home prices to an outstanding quality of life that attracts a broad range of homebuyers,” said Gray Shell, president of TRI Pointe Homes Carolinas. “We’ve been excited to bring our premium homebuilding formula to a region with such great appeal.”
The homebuilder’s 1,339 lots under contract represent 17 future communities, with the first four neighborhoods being well-located infill developments with attached townhomes. Located in the South Charlotte metro submarket of Fort Mill, S.C., TRI Pointe Carolinas’ first townhome community Ashburn will consist of 58 homesites and will be ready for a Spring 2020 grand opening. TRI Pointe also has two upcoming South Charlotte townhome communities within a few miles of SouthPark named Kenley and Everton. A 23-lot subdivision named Waterside is in the works in Raleigh’s prestigious ‘Inside the Beltline’ submarket. In addition, TRI Pointe Homes Carolinas, in conjunction with MPV Properties, recently broke ground in Farmington, a new master-planned community in Harrisburg, N.C., that will include three distinct single-family and townhome neighborhoods totaling 227 homesites.
With the Charlotte and Raleigh metros seeing continued strong market fundamentals including robust population and employment growth, limited new and resale home supply, and great relative affordability, TRI Pointe Homes Carolinas has set an ambitious goal of 700 closings by 2023. They also strive to significantly increase the number of home plans offered. Leveraging the large-scale resources of its parent company TRI Pointe Group, the homebuilder has conducted extensive market research over the past year resulting in 24 newly designed home plan offerings, from townhomes to traditional single-family and ranch homes, that will be ready to go to market as early as next year.
To support TRI Pointe Homes Carolinas’ growth, the homebuilder has made 10 key hires across its two new offices in the first year, four in land acquisition and six in operations. The team brings not only strategic, operational and financial experience to the company, but also 80+ combined years of local knowledge and dependable market relationships.
“I’m so proud of the foundation our team has established in its first year,” Shell said. “We are off to a fast start but will remain true to the initial strategy that TRI Pointe Homes brought to the market last year: start with people, invest in talent, design creative new product and provide a premium homebuying experience for our customers. That’s a major strategic differentiator for us and a big reason why the company’s path looks so promising.”
As TRI Pointe Homes Carolinas and parent company TRI Pointe Group enter their second year and second decade, respectively, both are primed for strong growth. While remaining consistent and disciplined in the land it chooses to acquire, TRI Pointe Homes Carolinas will continue to look for opportunities to develop well-located attached and detached communities for multiple market segments ranging from entry-level townhomes to move-up single-family homes to age-qualified product in core markets.
About TRI Pointe Homes® Carolinas
Based in Charlotte, North Carolina, TRI Pointe Homes Carolinas designs, constructs, and sells innovative single-family homes and townhomes. Founded on more than a century of combined real estate industry experience, the company focuses on building quality master-planned and urban infill communities throughout the Charlotte and Raleigh metro areas. Dedicated to insightful design and superior craftsmanship, the company is setting a new standard in homebuilding and customer experience. The company is a member of TRI Pointe Group®, a family of premium regional homebuilders. TRI Pointe Group is one of the largest homebuilders in the U.S. and was recognized as 2014 Developer of the Year by Builder and Developer magazine and 2015 Builder of the Year by Builder magazine. For more information about TRI Pointe Homes Carolinas, please visit https://www.tripointehomes.com/carolinas/.
1 Source: Emerging Trends in Real Estate 2019