• Backed by $50 million in private equity money from Warburg Pincus, Wall Homes established itself in 2005 with a simultaneous presence in three Texas markets: Dallas/Fort Worth, Houston, and San Antonio. Plans are in the works to expand into Atlanta. This year the company also opened a community in Austin, Texas.
  • After one year, the company is managing 21 active neighborhoods–with another six coming online by year-end. Sales are expected to top 300 in 2006 and swell to 700 or 800 by 2007.
  • In its first foray into attached product, Wall Homes is offering “modular” floor plan choices. Buyers at the 135-unit townhome Lakeridge project in the Dallas area will be able to create a design that addresses individual lifestyle needs: If the buyers prefer a first-floor layout from one plan and a second-floor layout from another, Wall Homes encourages them to mix and match.

    • Bottom Line The company's strategy is to build “attainable luxury” products aimed primarily at the first-time move-up buyer. “We underestimated how ripe the market was for that,” says Steve Wall, the company's founder and CEO. “Our average sale price has been higher than I expected.” Wall Home's focus on differentiation has prevailed despite the industry slowdown and competitive sales environment, but he admits, “We are working hard for every sale.”

    This year, he intensified the focus on the company's products by creating a design committee comprised of eight managers and executives to work closely with the staff architect. “I underestimated how time consuming the product piece of this business would be,” Wall says. “It's been a lot of brain damage. But [many] people are just going to be putting lipstick on their existing designs. There is a real opportunity to differentiate ourselves and get closer to the customer if we do it right.”

    WALL HOMES 1701 E. Lamar Blvd., Suite 290

    Arlington, Texas 76006

    817-299-6500

    www.wall.com

    Learn more about markets featured in this article: Dallas, TX.