Construction Management

BIG BUILDER

Johnson, Tricon Team up on Masterplanning a Future

The Johnson Companies LP, parent of masterplanned community development's hottest player right now, Houston-based Johnson Development sold an undisclosed percentage of the company to Toronto-based Tricon Capital Group for $18.5 million. The equity investment gives Johnson an infusion of growth capital and succession planning runway, and it yields Tricon an ever-strengthening yield opportunity against the United States housing market's early recovery bright spots. BUILDER's John McManus reports.

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BIG BUILDER

Get behind the headlines

The headline data points and the screaming media would suggest that housing's fragile, painstaking, and selective recovery has run off the tracks. Monthly data sets, sourced as they are from government agency number crunchers, can sorely deceive. Thankfully, we can turn to Hanley Wood chief economist Jonathan Smoke and Metrostudy chief economist and consulting director Brad Hunter for dose of perspective and actionable insight into this morning's housing starts release.

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BIG BUILDER

Breakeven 2014 ... Will You Know When You're There?

Cost trends being what they are, a flashpoint theme of 2014's home building narrative will be your ability (or not) to handle pressure on margins. Lots, labor, and materials are each constrained vis a vis relative demand. So, it's essential you're focused and disciplined on how you watch and manage costs--variable and non-variable, direct and indirect, above-the-line and below-the-line--so that your operating decisions drive business outcomes you can live with.

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