Expanding on comprehensive market research indicating a shift in
the needs and desires of today’s baby boomer homebuyers, TRI Pointe
Group®, Inc. (NYSE:TPH) is taking a new approach to planning and
building for this life stage. With an opportunity to deliver
enhanced lifestyles to this booming buyer demographic, TRI Pointe
Group’s ‘Life360™’ platform elevates current standards for
community placemaking by taking an authentic approach to location
proximity and high-level design. The ‘Life360’ platform leverages
TRI Pointe Group’s large-scale resources while tapping into the
local expertise and relationships of its regional builder brands to
create communities carefully optimized for baby boomer living.
“As the baby boomer generation approaches the longest
unencumbered time of their lives, their desire is not to slow down,
but to reset, recharge, and re-engage. While some are following the
traditional path of retirement, many are continuing to work
full-time or enjoying encore careers. This is a departure from the
path their parents typically took and reflects this generation’s
wide-ranging tastes and needs in all aspects of life, including
what they desire in a home and a community,” said Doug Bauer, Chief
Executive Officer at TRI Pointe Group. “We not only recognized the
need to introduce a diverse home and community aesthetic for this
dynamic group, but also to specifically focus on the regional
interests of our buyers, while delivering communities that are
centrally located and offer active and social atmospheres.”
Eight trillion dollars, or almost two thirds of the nation’s
home equity, is held by the 75 million people who comprise the
boomer generation.1 While 50 percent of these home shoppers over
the age of 55 would consider living in an age-restricted
community,2 research shows that 53 percent of them cannot find the
kind of compelling and vital community they desire.3
“TRI Pointe Group has built a strategy that is boutique versus
institutional across its builder brands – one that resists boomer
stereotypes, finds meaningful connectivity within each community,
elevates and localizes home design, and creates opportunities for
engagement with the kinds of activities and experiences that are a
continuation of the boomer generation’s pioneering spirit. Our
‘Life360’ platform focuses on building communities in close-in
locations near jobs and family, providing our buyers with
opportunities to continue working and be actively involved with
their children and grandchildren. We will provide value to the
market by carefully evaluating and delivering both age-targeted and
age-restricted neighborhoods with a variety of home sizes, designs,
and amenities in desirable locations,” says Bauer.
Execution of these new communities is based on a tailored
approach to create neighborhoods with more expressive and
individualistic community placemaking that provides robust social
calendars for diverse boomer interests, on and close to the
property. Integrating such communities adjacent to or within
all-age master planned communities in close-in locations also
affords the opportunity for boomers to be near family and a wider
range of age groups while still benefiting from exclusive
amenities. This localized strategy exemplifies TRI Pointe Group’s
approach of using placemaking as a theme to differentiate its
communities and provide meaningful connectivity between its
residents, the local community, and the surrounding region.
All of TRI Pointe Group’s future age-restricted and age-targeted
communities, including the six currently underway by builder brands
Pardee Homes, Maracay Homes, and Winchester Homes, are
conceptualized based on TRI Pointe Group’s ‘Life360’ platform. Each
community draws inspiration from the four components of ‘Life360’ –
vitality, adventure, connectivity, and style – to guide location
selections and lifestyle offerings as well as home and amenity
designs.
Pardee Homes’ gated and age-restricted community, Verano, is one
of five distinct new neighborhoods nestled within Aliento, Pardee’s
all-age master-planned community in Santa Clarita, California, one
of the largest cities in Los Angeles County4. Verano’s 95
innovative single-story homesites allow homebuyers the opportunity
to customize their home’s layout, such as two-story loft options if
additional space is needed for hobbies or visiting family and
friends. Aliento’s various amenities including the contemporary
Terrace clubhouse, Paseo Trail and future dog park connect
residents, while The Club at Verano is a combination of social hub,
peaceful retreat, and fitness center, designed to bring boomers
together.
Altis, Pardee Homes’ master-planned community currently in
development in Beaumont, California, is poised to set dramatic new
standards for 55+ lifestyle communities. Within the thriving
Sundance all-age master-planned community, Pardee’s plans include a
16,000-square-foot residents’ club, The VuePoint at Altis, to serve
as the epicenter of the community, with nearly 3,000 square feet of
additional exterior covered patios. The residents’ club design
takes a modern approach to the California ranch house art form and
is defined by its embrace of open spaces and seamless connection
between indoor and outdoor living. Altis will also cater to today’s
baby boomer consumers' desire to live near the thriving job market
of the Inland Empire, while also offering a walkable community by
providing 22 acres of parks connected by an extensive trail system.
Upon completion, Altis is anticipated to be comprised of 704 homes
and is slated to grand open in summer of 2018.
Currently under development also in Santa Clarita, California,
Skyline by Pardee Homes plans approximately 292 residences
optimized for boomers, situated within an all-age community
encompassing 492 acres and 1,220 homesites. The community benefits
from its strong location, well-situated within close proximity to
job opportunities and allows residents the option of being close to
families, a key consideration for this market. Skyline’s focus on
activity begins with the introduction of multiple recreation
centers and miles of trails for hiking and neighborhood
connectivity. Groundbreaking at Skyline commenced in March 2017,
with the first new home deliveries expected in 2019.
Maracay Homes’ neighborhood in Victory at Verrado, 25 miles from
downtown Phoenix, offers an all-new collection of floor plans
thoughtfully designed for the baby boomer homebuyer. Created in
collaboration with KTGY Architecture + Planning, one of the
nation’s most celebrated architectural and planning firms, each of
the 40 single-level homes is built for highly-efficient energy
performance and cost effectiveness. Flex Design® options, such as a
guest suite for visitors, are also available to customize each
home. Community amenities at Victory at Verrado include a Life
Performance Training Center, movement studios, yoga lawn, lap pool,
and three resort-style pools. The community is connected by the
Victory Trails, an innovative path and trail network for all
fitness levels that include one, two and three-mile loops in
addition to uniquely designed exercise stations that were developed
in partnership with certified personal trainers. Easy access from
Interstate 10 links the community to employment centers, shopping,
dining, and entertainment.
On the East Coast, Winchester Homes’ 55+ neighborhood within the
all-age masterplan of Two Rivers in Odenton, Maryland offers 168
craftsman-style homes in close proximity to Washington, D.C.,
Baltimore, and Annapolis. The lock-and-leave style townhomes offer
low maintenance living while providing plenty of private outdoor
living spaces with patios and balconies. Residents can enjoy the
main level owner’s suite and, while an upstairs loft with optional
elevator and basements are available, everyday living is kept on
the main floor. Similarly, the Birchwood neighborhood at Brambleton
in Ashburn, Virginia features 63 townhomes with stylish open floor
plans, including main-level owners’ suites for easy daily living,
and available terraces and elevators. The 55+ community at
Brambleton boasts a community garden, park trails, indoor pool, and
sporting garden.
“Our ‘Life360’ approach honors the individuality of
baby boomers while also delivering meticulously crafted homes and
experiences that will allow them to live an adventurous and social
lifestyle, all at their doorstep,” said Tom Mitchell, President and
COO of TRI Pointe Group. “This group has waited their entire lives
to be in the position they are now in, where amenities and
lifestyle opportunities in a close in location near family and
employment are key to a full and enriching life.”
About TRI Pointe Group®Headquartered in Irvine,
Calif., TRI Pointe Group, Inc. (NYSE:TPH) is a family of premium
regional homebuilders that designs, builds, and sells homes in
major U.S. markets. As one of the top ten largest public
homebuilding companies by market capitalization in the United
States, TRI Pointe Group combines the resources, operational
sophistication, and leadership of a national organization with the
regional insights, community ties, and agility of local
homebuilders. The TRI Pointe Group family includes Maracay Homes®
in Arizona, Pardee Homes® in California and Nevada, Quadrant Homes®
in Washington, Trendmaker® Homes in Texas, TRI Pointe Homes® in
California and Colorado, and Winchester® Homes in the Washington,
D.C. area. TRI Pointe Group was recognized
on Fortune magazine’s 2017 100 Fastest-Growing Companies
list, named 2015 Builder of the Year by Builder magazine,
and 2014 Developer of the Year by Builder and
Developer magazine. The company was also named one of the Best
Places to Work in Orange County by the Orange County Business
Journal and Best Companies Group in 2016 and 2017. For more
information, please visit www.TriPointeGroup.com.
1 Source: U.S. Census Bureau as of April 2016 2 Source:
John Burns Real Estate Consulting, “Product and Consumer
Insights Study 2016”3 Source: John Burns Real
Estate Consulting, “Product and Consumer
Insights Study 2016”4 Source: Los Angeles Almanac©,
2017Winchester is a registered trademark and is used with
permission.
Contact
Katy Biggerstaff
NewGround PR & Marketing
562.761.6338 / kbiggerstaff@newgroundco.com
TRI Pointe Homes (NYSE:TPH)
Historical Stock Chart
From Mar 2024 to Apr 2024
TRI Pointe Homes (NYSE:TPH)
Historical Stock Chart
From Apr 2023 to Apr 2024