Tri Pointe Homes, Inc. A New Homebuilder Delivering On An Inspired Committment

Oct. 21, 2009 - PRLog -- A new team of homebuilders with over a century of combined experience in the industry are launching a new company, TRI Pointe Homes, Inc.  Debuting this fall on the Irvine Ranch in Orange County and in San Miguel Ranch in San Diego, TRI Pointe Homes enthusiastically begins their journey, building toward reaching their annual goal of 1,000 homes over the next five years and becoming a significant private homebuilder throughout Southern and Northern California.

“We believe that in the face of today’s many challenges, it is time for a new generation of homebuilders to deliver quality homes for new home buyers,” stated Douglas Bauer, who, with Thomas Mitchell and Michael Grubbs, is one of the three founding principals of TRI Pointe Homes. “We plan to establish TRI Pointe Homes as the vanguard of the homebuilding industry's future. Our company’s core values of quality, integrity and excellence are the driving forces behind energy efficient, innovative designs that will connect with today's and tomorrow's buyers and exceed their expectations.”

Bauer, Mitchell and Grubbs, who all previously held executive positions at a large, publicly held homebuilding company, agreed that it is an unwavering commitment to think, renew and inspire that guides TRI Pointe Homes. “Insightful thinking means anticipating and encompassing all the events and needs of the individuals and families that will live in our homes,” Mitchell explained.  “We have a passionate desire to renew a sense of belonging by creating spaces that invite both energized interaction and peaceful solitude. And because of our strong relationships with key people throughout the real estate industry, we feel we can inspire the hundreds of experts involved in building our homes to take pride and care in their craftsmanship,” Bauer added.

Grubbs noted that he and his partners saw a business opportunity in the current economic climate. “As the market turns around, which it has already started doing, many doors open and opportunities present themselves,” he pointed out.  “And unlike our competitors, we are unencumbered by the financial challenges of many existing companies.”

One key focus of TRI Pointe Homes will be connecting with its customers on a personal level. “The difference between a homebuilder and an exceptional homebuilder is customer service,” Mitchell explained. “Our buyers will understand that difference firsthand when we arrive at their final walk-through, personally answering any questions that may arise. It’s all about that one-on-one connection with the homeowner. We want the home-buying experience to be memorable and special for every one of our customers.”

TRI Pointe's initial steps toward its goal of 1,000 homes in five years will be unveiled this fall at Sonoma at Woodbury in Irvine and Patria at San Miguel Ranch in Chula Vista.

The comfort of a spacious single-family detached home and the convenience of a neighborhood central to all of Orange County will be within reach at Sonoma, where TRI Pointe plans to build 95 residences. Floor plans will encompass three to five bedrooms and two and one-half to three baths to fit growing families. With approximately 2,350 to 2,622 square feet of living space, residents will have plenty of room to entertain or just relax and enjoy the many luxurious features that distinguish their new home. Sonoma homes are expected to be priced from the high $700,000s.

Patria, encompassing 52 homes, will be distinguished by elegant architecture and exceptionally spacious homesites of approximately 15,000 square feet. Ranging from approximately 2,600 to 3,300 square feet, these single-family detached homes will include a choice of one- and two-story floor plans, each in Spanish, Formal Spanish or Tuscan exterior styles. Three- to four-car garages and space for a pool and RV parking will make them especially appealing to active families. Prices are anticipated to start in the low $500,000s.

A deep and diverse background in residential construction gives TRI Pointe Homes the perspective to provide environmentally friendly, energy-efficient residences that anticipate families’ needs. Decades of success as builder/developers and experience with every facet of the homebuilding process link the principals of TRI Pointe Homes to proven resources throughout the industry. “From development to finance to construction, our hands-on experience ensures effective solutions that will lead TRI Pointe Homes to new insights and a promising future,” Bauer explained, “and that future will be built on the reputation for trust and integrity that we have earned over many years.”

TRI Pointe Homes founders Bauer, Mitchell and Grubbs were instrumental in founding a prominent, publicly held real estate developer in 1993, delivering more than 28,000 units, generating over $9.5 billion in revenue and establishing that company as one of the nation’s largest homebuilders. Bauer served as president and chief operating officer and chairman and CEO of the company's mortgage subsidiary. Mitchell was regional president, overseeing all aspects of daily operations in Southern California, where he was directly responsible for the unprecedented growth of the company’s Southern California operations. Grubbs spent 16 of his 25 years in the real estate industry, most recently as senior vice president and chief financial officer.

Additional information on TRI Pointe Homes is available by calling (949) 596-8660 or visiting http://www.TriPointeHomes.com.

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We are the next generation of homebuilders, and we believe to think, renew and inspire are not only guiding principles, but also the source of energy that will lead TRI Pointe Homes to new insights and a promising future.