Tri Pointe Homes Expands Its Premium Lifestyle Builder Footprint With New Divisions in Florida and the Coastal Carolinas
April 09 2024 - 5:00AM
Tri Pointe Homes® (NYSE: TPH), one of the largest homebuilders in
the U.S., announced today that it is expanding its national
footprint with the opening of new divisions in Orlando, Florida and
the Coastal Carolinas. Operations for the Coastal Carolinas, which
build upon the company’s presence in the Raleigh and Charlotte
markets, will be located near Charleston, South Carolina, while the
Florida office will be based in Orlando, Florida, elevating Tri
Pointe Homes’ national presence within two of the fastest-growing
regions in the nation.
Tri Pointe Homes’ expansion into Orlando and the
Coastal Carolinas reflects the company’s strategic plan of growing
its business organically in the top 25 homebuilding markets in the
U.S. The Southeast has emerged as an economic engine with South
Carolina and Florida being the two fastest-growing states in the
nation in 2023, growing their populations by 1.7% and 1.6%,
respectively. This growth is a significant factor driving housing
demand in these areas. Moreover, these states boast diverse
economies that fuel robust job markets. The thriving conditions and
diverse industries in these states, from technology and life
sciences to aerospace and financial services, as well as tourism,
provide a fertile ground for Tri Pointe Homes to introduce its
premium lifestyle brand, catering to the growing demand for premium
entry-level and move-up housing in markets ripe with
opportunity.
The announcement of the new Orlando and Coastal
Carolinas divisions marks the latest milestone in Tri Pointe Homes’
continuing geographic expansion and closely follows the company’s
entry into the Utah market in late 2023. It builds on the strong
momentum from organic start-up divisions launched in Austin,
Sacramento, Charlotte, Raleigh and most recently Salt Lake City,
highlighting the company’s thoughtful and sustained growth
strategy.
“In our examination of the Coastal Carolinas and
Florida housing markets, we have identified compelling
opportunities for development,” said Doug Bauer, Chief Executive
Officer of Tri Pointe Homes. “We analyze the dynamics of each
potential market to align our approach with local needs. Strategic
expansion is not just about building homes, but fostering
communities where people can thrive. The population growth, the
increase in household formations and diverse economic landscapes in
these regions highlight a clear demand for our unique brand of
premium lifestyle-oriented homes. We are thrilled to embark on this
expansion and confident in our ability to enrich these vibrant
communities.”
A key element of Tri Pointe Homes’ success in
adapting to various markets nationwide is its guiding principle:
the Best of Big and Small. This approach ensures that each of the
company’s divisions benefits from the leadership of market experts
who are intimately familiar with local market dynamics. These
leaders are empowered to make critical decisions that best serve
their communities, supported by the robust resources and financial
strength of one of the country’s leading public homebuilding
companies. As Tri Pointe Homes expands into Florida and the Coastal
Carolinas, this philosophy will continue to be a pillar for these
divisions.
Joel Underwood steps into the role of division
president for Orlando, bringing a distinguished career in the
financial and operational aspects of homebuilding to Tri Pointe
Homes. With a background in large-scale homebuilding operations
roles, Underwood has a track record of spearheading successful
divisions, driving growth and innovating processes to enhance
business results. His tenure has been marked by the adept
management of complex projects, from the development of a
5,200-unit master-planned community to significantly improving
operational efficiencies and financial performance. Underwood’s
business acumen and ability to translate complex data into
actionable business strategies makes him poised to capitalize on
the growing demand in the Orlando market, with a forward-thinking
style that suits the region’s significant increase in population
and job growth.
Ali Heavener, appointed as division president for
the Coastal Carolinas, brings a wealth of experience and a proven
track record of success in the homebuilding industry to Tri Pointe
Homes. With a dynamic career highlighted by her strategic
homebuilding leadership roles, Heavener has demonstrated
exceptional ability in market expansion, organic growth, team
building and operational excellence. Her deep-rooted understanding
of the Coastal Carolinas market uniquely positions her to lead Tri
Pointe Homes’ premium lifestyle brand in this region. Heavener’s
expertise in cultivating relationships with key business partners
further solidifies her as the ideal person to navigate the
promising landscape of this market.
“Joel and Ali are precisely the leaders we need to
launch and grow our new divisions in Orlando and the Coastal
Carolinas,” said Tom Mitchell, Tri Pointe Homes Chief Operating
Officer and President. “Both Joel and Ali are visionaries who
embody our core values of humility, empowerment, authenticity,
results and teamwork. Their experience and ability to forge key
relationships make them indispensable as we work together in these
booming markets. Our commitment is to not only meet the increasing
housing demand but also to enrich these communities, ensuring Tri
Pointe Homes becomes a hallmark of quality and innovation in
Florida and the Coastal Carolinas for years to come.”
About Tri Pointe Homes®One of the
largest homebuilders in the U.S., Tri Pointe Homes,
Inc. (NYSE: TPH) is a publicly traded company and a recognized
leader in customer experience, innovative design, and
environmentally responsible business practices. The company builds
premium homes and communities in 10 states, with deep ties to the
communities it serves—some for as long as a century. Tri Pointe
Homes combines the financial resources, technology platforms and
proven leadership of a national organization with the regional
insights, longstanding community connections and agility of
empowered local teams. Tri Pointe has won multiple Builder of the
Year awards, was named to the 2024 Fortune World’s Most Admired
Companies™ list and as one of the 2023 Fortune 100 Best Companies
to Work For®, and was designated as one of the 2023 PEOPLE
Companies That Care®. The company was also named as a Great
Place To Work-Certified™ company for three years in a row
(2021 through 2023), and was named on several Great Place To
Work® Best Workplaces lists in 2022 and 2023. For more
information, please visit TriPointeHomes.com.
A photo accompanying this announcement is available
at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4439a6a8-a282-4ade-b48d-ebd6d183a590
CONTACT:
Christine Rombouts
crombouts@newgroundco.com / 949.887.7723
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