Fast Track 2002

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 Homes 2401 Weston Pkwy., Suite 101, Cary, NC 27513	32%	$7	40.00%	7 MU, LUX	1984	13

Fast Track 2002: Rankings #47-91