Toll Brothers is working to join the ranks of the myriad Atlanta builders competing to be the first to chip away a decent sized chunk of market share. Although the Horsham, Penn.-based luxury home builder has refrained from officially announcing its entry into the competitive landscape, the Atlanta Business Chronicle reported that the company has a contract to purchase a 194-acre lot in Woodstock, Ga., for a 361-unit development.
In the article, Woodstock planning director Richard McCloud confirmed that Toll submitted a development site plan and that the city council voted to annex and rezone the land for the project on March 14.
However, Kira McCarron, Toll's chief marketing officer and senior vice president, says no deal has been sealed. She writes in an e-mail that the announcement is “incredibly premature at this time as we do not yet own any property.”
It's going to be anything but an easy entry for Toll, as the competitive field is littered with the whole spectrum of players; whether a small or large, public or private, local or national builder, everyone and his brother is doing business in Atlanta.
Bank of America real estate analyst David Fischer says, “I think it's great Toll is coming in [to the Atlanta market]. But I don't think it's going to change it all that much. These [smaller] guys are not going anywhere,” he says. “Toll is going to have to compete and compete hard in this market.”
And the higher price points hardly scales down the competition. Fischer says “there are honestly a ton” of luxury home competitors in the market. He cites John Willis Homes, Arborcraft, and John Wieland Homes and Neighborhoods as stiff competition for Toll.
No Advantage in Atlanta
Learn more about markets featured in this article: Atlanta, GA.
