At a Glance

Fifield Cos. uses a three-prong business strategy to smooth out business cycles, dividing its core competencies into high-rise luxury condominium, infill rental, and commercial development arms.

The tower company currently builds throughout California and Florida, as well as Chicago, Las Vegas, and Hawaii. Plans are in the works to expand into the Washington, D.C., market.

In 2005, the company’s value of construction put in place was $450 million. It anticipates that number to swell to $1.6 billion by 2007.

Bottom Line President Rick Cavenaugh says the market downturn will shift the company’s business DNA. Whereas today, the company does about 65 to 70 percent of its business in condo construction, he estimates in five years that number will drop to 50 percent. And although he says that “it’s easier on the nerves to have market-rate projects” in a softening market, luxury pricing will prevail because infill continues to gain momentum. “It’s not just a flash in a pan,” he says.

FIFIELD COS. 20 N. Wacker Drive

Chicago, IL 60606

Phone: 312-855-1600

Fax: 312-855-1719

At a Glance

About the Author

BIG Staff

More from Builder Magazine

Inside the Movement Toward More Resilient Design

Builders Embrace Pet-Friendly Living

10 Trends for Outdoor Living Spaces

Upcoming Events

Zonda’s Building Products Forecast Webinar

Future Place

Q3 Master Plan Community Update