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Jim Previti wondered for a while how he would keep busy after selling Forecast Homes. "Having $240 million will give you a lot of confidence," says Previti, CEO and chairman of Empire Capital, his new company, located in Ontario, Calif.Previti signed a non-compete agreement with Forecast not to build homes in the $300,000-and-below price range in California, but that won't affect Empire's game plan to build high-end. The homes in the master planned community are priced at about $600,000 and will complement other upscale projects he has planned for the Inland Empire, including a six-story office building topped with penthouses and a $2.5 million jet terminal.Empire Capital also houses Previti's new land banking business, which will provide low-cost capital for land. More
