Created from the merger of Newmark Homes and Engle Holdings in 2002, Technical Olympic USA (TOUSA) is the U.S. housing arm of Technical Olympic, SA, a large construction company based in Greece. Leading the charge as the country's 12th largest public home builder is president and CEO Antonio (Tony) Mon. In 2005, TOUSA delivered more than 9,400 homes, targeting diverse buyers in high-growth areas of Florida, the mid-Atlantic, Texas, and the West. That number could rise to 15,000 this year. Mon is recognized for his ability to motivate people by treating them with respect. With two grown children, Mon's outside interests include good wine, good books, and fishing. He lives in Fort Lauderdale and spoke with BIG BUILDER in late April.
BB: How is your company's strategy of going for high-growth areas serving you at a time when new home sales nationally are somewhat depressed?
AM: Well, I think we're doing pretty well, actually. We believe we are well-positioned for the future. The market is the market. Markets do what markets do—they go up and down. Our job is really to manage through various types of cycles. I would not trade our market position for anyone else's because we are in very, very good stead there.
BB: What growth targets do you think you'll be able to meet this year?
BB: Which region is doing best for you?
AM: In terms of growth over the prior year, Texas. Coming from a three-year recession, Texas is clearly back, and it is acting counter-cyclically to the rest of the country.
BB: How big a target is the active adult market?
AM: Ideally, over time, we'd like to do between 10 and 20 percent. We are currently closer to 10 [percent], so we need to double that.
BB: TOUSA'S acquisitions have blended many different brands. When will there be one national brand?