Tri Pointe Homes Expands Its Premium Lifestyle Builder Footprint With New Divisions in Florida and the Coastal Carolinas

Orlando Division President Joel Underwood and Coastal Carolinas Division President Ali Heavener will leverage regional insights to fuel growth in markets with rapid population increase and housing demand

INCLINE VILLAGE, Nev., April 09, 2024 (GLOBE NEWSWIRE) -- 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.”