In a record year for housing, these fast-growing builders set a dizzying pace. Our fourth annual list shows who can race with the pack.
By Alison Rice/List research by Loretta Williams
Every moment matters when you’re on the fast track. At every turn, hungry competitors surround you, seeking the inside edge. On the straightaways, you must maintain your speed or risk losing your position. And in the pits, your crew must be the fastest–or watch victory slip away by just fractions of a second in the final laps.
Sounds like NASCAR, but fast-growing home builders also know that the right mix of strategy, speed, and seamless teamwork can propel them to the winner’s circle of profitable growth.
It’s a race builders must master if they want to expand their companies in a time when so many builders are scrambling for market share. Yet, despite consolidation, grow they have. In 2001, Fast Track builders closed 102,350 homes, achieving a compound annual closings growth rate of 100 percent. They performed financially, too, generating more than $25 billion in revenue with an average three-year growth rate of 44 percent.
| Fast Track 2002 |
| All for One |
| Crushing the Competition |
| Rankings #1-47 |
| Rankings #47-91 |
But average doesn’t begin to describe these fast-growing builders. Founded in 1999, Kara Homes of East Brunswick, N.J., went from $1 million to $34 million in revenue in just three years, making it the fastest-growing builder on our list, with 483 percent revenue growth. In closings growth, Amber Homes of Aurora, Colo., is tops (1,675 percent, just edging out Kara), but bows to Kara in revenue with “just” 294 percent growth. Past performers have also maintained their presence on the Fast Track. Last year’s No. 1 builder, World Development of Palm Desert, Calif., remains among the fastest of the fast trackers, landing the No. 3 spot with 160 percent revenue growth. Two builders have stayed in the top 25 for three years running: McDaniels Homes of Lanham, Md., and Zausa Development Corp., based in Orland Park, Ill. Continuing to grow quickly and well is a challenge; just 10 builders have made the list every year since its inception four years ago (see “Fast Track Hall of Fame“).
For many fast trackers, their dedication to teamwork, with all the flexibility, speed, and creativity it contributes, provides their competitive advantage in their drive for the checkered flag.
| Rank | Company/Address | % Gross Revenue Change 1999-2001* | 2001 Gross Revenue** | % Closing Growth From 1999-2001 | 2001 Closings (What They Build) | Year Founded | No. of Employees |
| Key: EL = Entry-level, MU = Move-up, LUX = Luxury/Custom, AA = Active adult, SEC = Second home | |||||||
| *Revenue change = the compounded annual growth rate over three years. **In millions | |||||||
| 1 | Kara Homes 197 Rt. 18, Suite 202N, East Brunswick, NJ 08816 | 483% | $34 | 1,650.00% | 105 EL, MU, LUX, AA, SEC | 1999 | 100 |
| 2 | Amber Homes 4901 E. Hampden Ave., Suite 320, Aurora, CO 80014 | 294% | $31 | 1,675.00% | 213 EL, MU, SEC | 1998 | 32 |
| 3 | World Development 74333 Highway 111, Suite 103, Palm Desert, CA 92260 | 160% | $27 | 196.77% | 92 EL, MU | 1997 | 32 |
| 4 | Hallmark Communities 10675 Sorrento Valley Rd., Suite 200 B, San Diego, CA 92121 | 95% | $84 | 71.96% | 184 EL, MU, LUX | 1982 | 33 |
| 5 | Brownstone Homes 12670 S.W. 68th Ave., Suite 200, Portland, OR 97223 | 90% | $18 | 246.88% | 111 EL, MU, AA | 1998 | 11 |
| 6 | Forrest Homes 4040 Nina McFarland Dr., Suite 1100, Alpharetta, GA 30004 | 80% | $29 | 158.75% | 207 EL | 1998 | 33 |
| 7 | Newcastle Construction 433 Highway 13, Helena, AL 35080 | 73% | $6 | 187.50% | 23 MU | 1997 | 6 |
| 8 | Syncon Homes 1380 Lead Hill Blvd., Suite 201, Roseville, CA 95661 | 71% | $73 | 138.94% | 270 EL, MU, LUX | 1995 | 50 |
| 9 | Renaissance Housing Corp. 12030 Sunrise Valley Dr., Suite 170, Reston, VA 20191 | 70% | $176 | 268.18% | 324 LUX | 1985 | 100 |
| 10 | Town & Country Home Builders 1807 S.W. S. Macedo Blvd., Port St. Lucie, FL 34984 | 69% | $2 | 150.00% | 15 MU, SEC | 1998 | 2 |
| 11 | Patrick Malloy Communities 851 Cedar St., Carrollton, GA 30117 | 67% | $25 | 164.71% | 135 EL, MU | 1997 | 35 |
| 12 | Kalian Corp. 225 Highway 35, Red Bank, NJ 07701 | 66% | $116 | 299.38% | 643 EL, MU, AA, SEC | 1986 | 155 |
| 13 | KFarrell/Parkside Homes 16000 Memorial Dr., Suite 250, Houston, TX 77079 | 65% | $30 | 93.28% | 230 EL | 1998 | 31 |
| 14 | Summit Homes 200 W. River Dr., St. Charles, IL 60174 | 64% | $46 | 170.59% | 177 EL, MU | 1992 | 58 |
| 15 | M.B.K. Homes 175 Technology Dr., Irvine, CA 92618 | 63% | $96 | 142.22% | 327 EL | 1995 | 56 |
| 16 | Zausa Development Corp. 10709 Winterset Dr., Orland Park, IL 60467 | 61% | $13 | 109.68% | 65 EL, MU | 1996 | 13 |
| Rank | Company/Address | % Gross Revenue Change 1999-2001* | 2001 Gross Revenue** | % Closing Growth From 1999-2001 | 2001 Closings (What They Build) | Year Founded | No. of Employees |
| 16 | Mauri Construction P.O. Box 347, Avon, CO 81620 | 61% | $13 | 100.00% | 20 LUX, SEC | 1997 | 150 |
| 18 | Longford Group 3077 E. Warm Springs Rd., Las Vegas, NV 89120 | 59% | $66 | 115.75% | 548 EL, MU | 1991 | 119 |
| 18 | Ole South Properties 275 Robert Rose Dr., Murfreesboro, TN 37129 | 59% | $53 | 132.16% | 462 EL | 1988 | 30 |
| 20 | McDaniels Homes 9470 Annapolis Rd., Suite 226, Lanham, MD 20706 | 58% | $15 | 89.29% | 53 EL, MU, LUX | 1995 | 8 |
| 21 | Gehan Homes 1101 N. Union Bower Rd., Suite 160, Irving, TX 75061 | 55% | $125 | 111.06% | 840 EL, MU | 1991 | 180 |
| 22 | Hometowne Building Co. 37899 W. 12 Mile Rd., Farmington Hills, MI 48331 | 53% | $54 | 108.96% | 140 EL, MU, LUX | 1995 | 57 |
| 23 | Dunmore Homes 2150 Professional Dr., Suite 150, Roseville, CA 95661 | 50% | $97 | 53.64% | 401 EL, MU, LUX | 1953 | 91 |
| 23 | Bowen Builders Group 4460 Commerce Dr., Buford, GA 30518 | 50% | $159 | 119.17% | 903 EL, MU | 1993 | 66 |
| 25 | Marrano/Marc Equity 2730 Transit Rd., West Seneca, NY 14224 | 49% | $96 | 62.63% | 309 EL, MU, LUX, AA, SEC | 1956 | 66 |
| 26 | Pacific Century Homes 40925 County Center Dr., Temecula, CA 92591 | 48% | $164 | 118.93% | 821 EL, MU, LUX | 1995 | 280 |
| 26 | Meritage Corp. 4050 W. Park Blvd., Plano, TX 75093 | 48% | $747 | 99.03% | 3,270 EL, MU, LUX | 1985 | 500 |
| 28 | Century Builders Group 7270 N.W. 12th St., Suite 410, Miami, FL 33126 | 47% | $115 | 44.52% | 620 EL, MU | 1999 | 121 |
| 28 | Ernest Homes P.O. Box 1008, Richmond Hill, GA 31324 | 47% | $13 | 84.21% | 70 MU | 1987 | 20 |
| 30 | Ivanhoe-Huntley Homes 7001 Orchard Lake Rd., Suite 200, West Bloomfield, MI 48322 | 45% | $63 | 194.81% | 227 MU, AA | 1989 | 40 |
| 31 | R.J. Moreau Cos. 24 Eastman Ave., Suite C2, Bedford, NH 03110 | 44% | $31 | 48.39% | 138 EL, MU, AA | 1992 | 25 |
| 31 | Astoria Homes 9555 Del Webb Blvd., Las Vegas, NV 89134 | 44% | $159 | 94.54% | 819 EL, MU, LUX | 1995 | 105 |
| Rank | Company/Address | % Gross Revenue Change 1999-2001* | 2001 Gross Revenue** | % Closing Growth From 1999-2001 | 2001 Closings (What They Build) | Year Founded | No. of Employees |
| 33 | TK Constructors 5141 W. Hessler Rd., Muncie, IN 47304 | 43% | $45 | 45.00% | 435 EL, MU | 1990 | 115 |
| 33 | The Drees Co. 211 Grandview Dr., Fort Mitchell, KY 41017 | 43% | $806 | 56.81% | 2,719 EL, MU, LUX, AA | 1928 | 930 |
| 35 | Sotherby Homes 4975 Preston Park Blvd., Suite 360, Plano, TX 75093 | 41% | $48 | 134.72% | 169 EL, MU | 1995 | 40 |
| 35 | Christopherson Homes 1315 Airport Blvd., Santa Rosa, CA 95403 | 41% | $131 | 38.66% | 269 EL, MU, LUX | 1989 | 108 |
| 37 | Kyle Carter Homes 3851 Fruitvale Ave., Bakersfield, CA 93308 | 40% | $65 | 101.42% | 425 EL, MU, LUX | 1975 | 131 |
| 38 | Stillbrooke Homes 8901 Adams N.E., Suite A, Albuquerque, NM 87113 | 39% | $29 | 42.68% | 117 EL, MU, LUX | 1997 | 29 |
| 39 | Neumann Homes 4355 Weaver Pkwy., Warrenville, IL 60555 | 38% | $211 | 63.88% | 1,098 EL, MU | 1992 | 225 |
| 39 | Hubble Homes 701 S. Allen St., Suite 104, Meridian, ID 83642 | 38% | $80 | 57.02% | 705 EL, MU | 1986 | 66 |
| 41 | Anderson Homes P.O. Box 1237, Lodi, CA 95241 | 37% | $71 | 46.45% | 227 MU | 1989 | 45 |
| 42 | The Knight Group 9497 Thornton Blvd., Jonesboro, GA 30236 | 35% | $64 | 72.43% | 419 EL, MU | 1978 | 50 |
| 42 | Ryan Building Group 945 N. Plum Grove Rd., Suite G, Schaumburg, IL 60173 | 35% | $186 | 61.43% | 770 EL, MU | 1991 | 153 |
| 44 | Sterling Communities 2700 N. Military Trail, Suite 360, Boca Raton FL 33431 | 34% | $47 | 73.42% | 137 EL, MU, LUX, SEC | 1996 | 22 |
| 44 | K. Hovnanian Enterprises 10 Highway 35, Red Bank, NJ 07701 | 34% | $1,749 | 80.23% | 6,791 EL, MU, LUX, AA | 1958 | 2,400 |
| 44 | Gateway Homes 10255 Richmond Ave., Suite 400, Houston, TX 77042 | 34% | $66 | 29.83% | 457 EL, MU | 1990 | 55 |
| 47 | Holiday Builders 2293 W. Eau Gallie Blvd., Melbourne, FL 32935 | 32% | $175 | 46.07% | 1,690 EL | 1983 | 178 |
| 47 | Youngquist Homes2401 Weston Pkwy., Suite 101, Cary, NC 27513 | 32% | $7 | 40.00% | 7MU, LUX | 1984 | 13 |
