Nobody would say that the award-winning neo-traditional community of Vickery a half-hour plus north of Atlanta is anything less than a stellar development. The problem is it's not a profitable one any more, and now it's in a bank's hands.
So how do you keep all the attributes that made Vickery successful in the upturn while reworking it to make a profit in a downturn? That's the challenge we gave Big Builder Virtual Event's Atlanta Dream Team.
It was a steep order for our team because it essentially means figuring out how to build and sell houses profitably at $300,000 or less to $500,000 in a community where they were selling for between $300,000 and $1 million.
It was clear from the beginning that it would take more than just resetting the price of the land by buying it low from the bank to knock more than $200,000 off the cost of a house. Instead, our team took a multi-pronged approach that includes everything from subtly increasing density, to redesigning product, to taking advantage of lower materials costs.
Tune in for Day 4 of Big Builder Week's live Webinars at 1:15 p.m. Eastern time on Thursday, Nov. 19, to hear how our team figured out how to have victory at Vickery. Be sure to register for free at www.bigbuilderconference.com before the Webinar starts.
Our Atlanta team includes architect Michael Medick; Chuck Fuhr, Ryland Homes; Michael Langella, Reynolds Signature Communities; Jennifer Landers, Newland Communities; and Bill Evans Jr., John Thomas Homes.
Learn more about markets featured in this article: Atlanta, GA.