HOUSTON – (Realty News Report) – Partners in Building, a Houston-based custom homes builder, has purchased Paul Taylor Homes, which provides a significant platform for entry into the Dallas-Fort Worth market.
Partners In Building, which was founded in 1986 and currently builds more than 250 homes a year in the Houston and Nashville. The firm is called “the largest custom home builder in the South.”
In the Inner Loop of Houston, Partners in Building is strong in the “tear-down” market where old, obsolete and flood-damaged homes are demolished and replaced with upscale custom homes.
In North Texas, Partners in Building plans to immediately introduce its popular Build On Your Lot program in the Dallas-Fort Worth market, targeting in-city neighborhoods where demolition and rebuilding are strong, as well as rural acreage owners.
The acquisition of Paul Taylor Homes includes approximately 80 homes under contract and in various stages of construction, with an average sales price of approximately $800,000 each. The deal also includes more than 120 homesites, three model homes, the company’s portfolio of home designs, and its corporate office lease at 17950 Preston Rd. The combined company will operate as Partners In Building.
The current employees of Paul Taylor Homes, about 16 in total, have been offered positions at Partners In Building.
“The extremely talented and dedicated team at Paul Taylor Homes is one of its greatest assets, with many employees who have been with the company for over a decade,” said Chris Lemming, who has been named Dallas-Fort Worth Division President of Partners In Building. “We are very happy to continue working with this great team, which will provide us with an excellent platform to build on the success and reputation Paul Taylor Homes has established over the past four decades.”
Partners In Building plans to maintain Paul Taylor Homes’ traditional strength in building custom homes on large lots in markets east of I-75, while expanding into high-growth areas including Prosper and Celina to the north; Argyle, Bartonville, and Flower Mound to the northwest; and Southlake, Keller and Colleyville to the southwest. The company is also eyeing expansion into Fort Worth.
Partners In Building will continue to offer plans in the Paul Taylor portfolio, which have had an average sales price of approximately $800,000, while also offering larger and more expensive custom homes that it has traditionally built, at prices between $1 million and $3 million.
In addition, Partners in Building will offer its custom sales process for owners interested in second homes and vacation homes for rural, farm, ranch, and lake properties in the Metroplex.
Partners In Building expects to close about 70 homes in its first year in the Dallas-Fort Worth market, and plans to reach sales of more than 200 homes a year within a few years. The company is currently in active negotiations with a number of developers to acquire homesites in new and existing communities in the Metroplex, and will also pursue opportunities to develop its own homesites.
Dallas No. 1 in Home Building; Houston No. 2
In recent years, Dallas has been No. 1 in the nation in housing starts and Houston has been No. 2, according to the National Association of Home Builders.
With its strong economic growth, the Dallas Metroplex has the potential to become the largest market for Partners In Building, the company said.
The company is led by President Jim Lemming, a Dallas native and graduate of the University of North Texas. Lemming has worked in the Houston market for a number of years.
File: Houston Builder Acquires Company
Feb. 23, 2022 Realty News Report Copyright 2022.
Images: Courtesy Partners in Building
File: Paul Taylor Homes, Partners in Building, Jim Lemming, Houston Builder Acquires Company in D-FW