What better place to rise from the ashes of the 2009 recession than in Phoenix? When Joseph Carl Homes was first founded that year, its meteoric rise led to its being acquired by Avatar Holdings, now AV Homes, less than a year later. Now the company’s founders, Carl Mulac and Stephen Adams, have reunited to revive Joseph Carl Homes once again. But, this time they will focus on an underserved sector of the market: affordable, sustainable living.
Joseph Carl Homes’ first community will offer 92 energy-efficient single-family homes in the community of Riverbend located in south Phoenix (see video above). In total, the firm has control of more than 500 lots in the area.
Mulac and Adams founded Joseph Carl Homes originally in 2009 to focus on active adult living in Estrella Mountain Ranch and other parts of the Valley of the Sun. Shortly after, public firm Avatar acquired the company to expand into the Phoenix market. Mulac continued his work with Avatar as executive vice president while Adams left the public arena to pursue a private home building company, Adams Craig Acquisitions.
Now, Mulac and Adams have reunited to revive Joseph Carl Homes. This time around, the company is majority owned by Mulac and Adams and is focused on maintaining low overhead to maximize home values, developing state-of-the-art eco-entry level housing, and fostering almost 40 years of combined local relationships to offer a new home buying experience.
The company will be focused on offering entry level homes at attainable price points. Phoenix is one of the country’s top home building markets in the country–it is ranked No. 4 on BUILDER’s Local Leaders list–but with popularity comes rising prices, says Mulac.
“With the median new home sale price in Phoenix near $300,000, it’s time we bring back affordability and the dream of homeownership to many more residents,” he says.
The firm aims to offer sustainable living options to first-time home buyers. “Not only will our buyers appreciate the affordability in our home prices, but they will enjoy the long-term utility savings,” says Adams. The newly revamped company will face large public builders that dominate the Phoenix market, including Pulte, Taylor Morrison, DR Horton, and Meritage.
Mulac has over 30 years of home building experience learning the industry from the ground up starting in sales then as construction superintendent and all the way up through division manager on to president of several large home building divisions. After selling his interest in 2010 to Avatar Holdings, Adams offered his signature Superior Energy System Home at his new firm, Adams Craig Acquisitions, a green custom homebuilder operating in the Phoenix metro area.
