The Greenwood Village, Colo.-based company plans to open its first community, Maple Hills, in the second half of 2016.The community and its 47 finished lots are located in West Jordan, “a rapidly growing suburb” of Salt Lake City. Maple Hills will cater to entry-level and move-up buyers with homes ranging in size from 1,600-to-2,600 square feet and home prices expected to be in the low-to-mid $300,000’s.
Century likes the Salt Lake City economy, citing total its employment, which is now at 109% of the prior peak in 2007. The improving economy and steady population growth have produced strong buyer demand amid very tight home supply near two months. With over four jobs added for each single-family permit, the Salt Lake City features a very favorable home building environment, the company stated in a release.
“We are thrilled to enter this vibrant and expanding new market,” said Dale Francescon, co-chief executive officer. “Salt Lake City is an exceptional fit within our long-term multi-market growth strategy, with its improving economy and strong demand for high quality homes. Our newly established presence here marks another step towards further diversifying our footprint on our scalable platform. We are excited to open our first community and introduce our desirable homes and amenities to the Salt Lake City market in the second half of 2016.”
Amberry joined Century in 2008 and has served in various leadership positions, including his role as senior vice president with responsibility for the management of all the company’s land acquisition activities across the country.
“Todd has proven himself as a skilled operator with increasing levels of responsibility at our company,” Francescon said. “He has a deep understanding of our company’s strategy, operation and culture. We look forward to guiding his success in his expanded role to significantly strengthen our emerging presence in the very attractive Salt Lake City market.”