WCI Communities—which is a top 40 builder among the BUILDER 100 that will report almost $2 billion in revenue for 2005—must reorganize the executive management of its Northeast division after the recent departure of the division's president, Mitchell Hochberg.
The division, formerly Spectrum Communities, was founded by Hochberg in 1985. In May 2004, the operation was sold to Bonita Springs, Fla.-based WCI. The acquisition added a luxury brand builder in New York, New Jersey, and Connecticut to WCI holdings and began the company's expansion up the eastern seaboard from its Florida base. In February 2005, WCI acquired luxury tower builder Reston, Va.-based Renaissance Housing Corp.
WCI does not report financial performance by division. However, estimates say the division does about $230 million in annual revenue and closes about 300 homes, excluding its Watermark tower properties in North Bergen, N.J., which broke ground last summer.
Among WCI's six active communities in the Northeast are the Watermark in Hudson County, N.J.; Legends at Manhattan Woods in West Nyack, N.Y.; Legends at Pocantico Hills in Sleepy Hollow, N.Y.; Four Corners in East Fishkill, N.Y.; Traditions at Historic Southbury in Southbury, Conn.; Encore Atlantic Shores in Eastport, N.Y., Encore Lake Grove in Lake Grove, N.Y.; and Encore Monroe in Monroe, N.J.
COO Andrew Stark, who has been with the division for more than a decade, has stepped up to fill the role of president recently vacated by Hochberg, who is taking time to explore opportunities both within the home building industry and in related fields.
WCI officials confirmed Stark's appointment as president of its Northeast “traditional home building operations.” A WCI executive noted that Craig Klingensmith has been and remains president of the unit's tower operations, and while he previously reported to Hochberg, he now reports directly to Chris Hanlon who is WCI's senior vice president in charge of tower operations. Hochberg was unavailable for comment.