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1 Top MPCs of 2018 | John Burns Real Estate Consulting Top 50 Master-Planned Communities of 2018 Top 50 Master-Planned Communities of 2018 JODY KAHN Senior Vice President 603-235-5760 [email protected] DEVYN BACHMAN Senior Research Analyst 303-956-9881 [email protected] Amenities and Broad-Based Demand Drove Top 50 Masterplans’ Sales

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Page 1: Master-Planned o 2018 Top 50 - realestateconsulting.comrealestateconsulting.com/wp-content/uploads/2019/01/JBREC-Top-50-MPCs... · Top 50 Master-Planned Communities of 2018 Notable

1Top MPCs of 2018 | John Burns Real Estate Consulting

Top 50Master-Planned

Communities of 2018

Top 50Master-Planned

Communities of 2018

JODY KAHNSenior Vice [email protected]

DEVYN BACHMANSenior Research [email protected]

Amenities and Broad-Based Demand Drove Top 50

Masterplans’ Sales

Page 2: Master-Planned o 2018 Top 50 - realestateconsulting.comrealestateconsulting.com/wp-content/uploads/2019/01/JBREC-Top-50-MPCs... · Top 50 Master-Planned Communities of 2018 Notable

Top 50Master-Planned

Communities of 2018

RANK DEVELOPER NET SALES

SOURCE: John Burns Real Estate Consulting, LLC (January 2019)

PROJECT NAME2018

12345678910111213

14T14T16171819202122232425

2,134

1,482

1,318

1,108

1,000

938

929

902

717

660

625

623

575

530

530

507

490

482

481

480

478

477

474

470

463

THE VILLAGES

LAKEWOOD RANCH

SUMMERLIN

WEST VILLAGES

IRVINE RANCH1

NOCATEE

EASTMARK

ONTARIO RANCH

INSPIRADA

OTAY RANCH1

STAPLETON

RANCHO MISSION VIEJO

DAYBREAK

VERRADO

SIENNA PLANTATION

LAKE NONA

ESTRELLA

BRIDGELAND

CADENCE

THE GREAT PARK NEIGHBORHOODS

SKYE CANYON

MOUNTAIN HOUSE

CANE BAY PLANTATION

SIENA1

VIERA

Villages of Lake Sumter, LLC

Schroeder-Manatee Ranch, Inc.

The Howard Hughes Company

West Villages Partnership

The Irvine Company

The PARC Group

DMB and Brookfield

Brookfield, DR Horton, Lennar, Lewis, Stratham

Beazer, KB Home, Pardee & Toll Brothers

Baldwin, Stratford Land, Cornerstone & HomeFed

Forest City Enterprises

Rancho Mission Viejo, LLC

Daybreak Communities

DMB

Johnson Development Corp.

Tavistock Group

Newland Communities

The Howard Hughes Company

The LandWell Company

Five Point Communities

Olympia Companies

Mountain House Developers LLC.

Gramling Brothers Real Estate & Development

John Lloyd Development

The Viera Company

2018LOCATION

Villages, FL

Sarasota, FL

Las Vegas, NV

Sarasota, FL

Orange County, CA

Jacksonville, FL

Phoenix, AZ

Riverside-San Bernardino, CA

Las Vegas, NV

San Diego, CA

Denver, CO

Orange County, CA

Salt Lake City, UT

Phoenix, AZ

Houston, TX

Orlando, FL

Phoenix, AZ

Houston, TX

Las Vegas, NV

Orange County, CA

Las Vegas, NV

Stockton, CA

Charleston, SC

Austin, TX

Brevard County, FL

Top 50Master-Planned

Communities of 2018

1Estimates Bold=Multiple MPCs on list 18,873 TOP 25 TOTAL

UPDATED JANUARY 12, 2019

Page 3: Master-Planned o 2018 Top 50 - realestateconsulting.comrealestateconsulting.com/wp-content/uploads/2019/01/JBREC-Top-50-MPCs... · Top 50 Master-Planned Communities of 2018 Notable

Top 50Master-Planned

Communities of 2018

Top MPCs of 2017 | John Burns Real Estate Consulting

RANK DEVELOPER NET SALES

SOURCE: John Burns Real Estate Consulting, LLC (January 2019)

PROJECT NAME2018

26272829303132333435363738394041

42T42T44454647484950

455

451

444

435

430

425

421

420

412

409

400

385

380

370

366

365

357

357

343

339

335

334

330

328

327

CROSS CREEK RANCH

VISTANCIA

WESTSHORE

STARKEY RANCH

ALIANA

HARMONY

BARTRAM PARK

HARVEST

LATITUDE MARGARITAVILLE

RIVER ISLANDS

WILLOWSFORD

TRADITION

WHITNEY RANCH

RIVERSTONE

TEHALEH

WOODFOREST

VIRIDIAN

BRAMBLETON

THE WOODLANDS

BANNING LEWIS RANCH

WILDWOOD AT NORTHPOINTE1

BALMORAL

ALAMO RANCH1

THE MEADOWS1

HIGHLAND MEADOWS

Johnson Development Corp.

Vistancia Land Holdings/Stratford Land

K Hovnanian, Lennar & DR Horton

Wheelock Communities

AIRIA Development Company

Johnson Development Corp./Land Tejas Company

Eastland Development Group

Hillwood Communities

Minto Communities

River Islands Development

Willowsford Management, LLC

Tradition Land Company

Sunset Ranchos Investors

Johnson Development Corp.

Newland Communities

Johnson Development Corp.

Johnson Development Corp.

Brambleton Group LLC

The Woodlands Dev Co/Howard Hughes Corp

Oakwood Homes

Friendswood Development Company (Lennar)

Land Tejas Company

Galo Properties

Communities Southwest

Landmark Investment Services, LLC

1Estimates 28,491 TOP 50 TOTALBold=Multiple MPCs on list

2018LOCATION

Houston, TX

Phoenix, AZ

Sacramento, CA

Tampa, FL

Houston, TX

Houston, TX

Jacksonville, FL

Fort Worth, TX

Daytona Beach, FL

Stockton, CA

Washington, DC

Port St. Lucie, FL

Sacramento, CA

Houston, TX

Tacoma, WA

Houston, TX

Dallas, TX

Washington, DC

Houston, TX

Colorado Springs, CO

Houston, TX

Houston, TX

San Antonio, TX

Phoenix, AZ

Lakeland, FL

Top 50Master-Planned

Communities of 2018

UPDATED JANUARY 12, 2019

Page 4: Master-Planned o 2018 Top 50 - realestateconsulting.comrealestateconsulting.com/wp-content/uploads/2019/01/JBREC-Top-50-MPCs... · Top 50 Master-Planned Communities of 2018 Notable

4Top MPCs of 2018 | John Burns Real Estate Consulting

Top 50Master-Planned

Communities of 2018

Amenities and Broad-Based Demand DroveTop 50 Masterplans’ SalesBy Jody Kahn, Senior Vice President, and Devyn Bachman, Senior Research Analyst

Broad-based demand supported a solid sales year for builders and developers. The surge in first-time buyer demand that we identified in 2017 continued to expand in 2018, benefitting many MPCs. Though numerous builders are shifting away from higher price points, move-up demand continued in 2018 at many masterplans, but at more subdued levels than earlier in the housing recovery. Strong demand among 55+ buyers also supported sales at the top 50 masterplans, in both age-targeted sections and mixed within the larger community.

Amenities feed into the masterplans’ lifestyle. Masterplan developers continue to look for the newest ways to attract buyers to their masterplans, and unique amenities always seem to be a hot topic. From large investments, such as the Crystal Lagoon in Balmoral, to smaller investments like cornhole in Lakewood Ranch, the developers who create a sense of community by incorporating multiple demographic groups, while also generating social media buzz, reap the largest benefits.

Giant sales increase at Balmoral With a 345% increase year over year, the Balmoral masterplan developed by Land Tejas on Houston’s northeast side wins the title for most improved sales, exploding from a partial sales year in 2017. Senior Vice President David Jarvis observes that Balmoral opened Texas’s first Crystal Lagoon amenity this year to great excitement. The developer has plenty of additional lots under development for 2019 sales.

• A range of home sizes, types and prices and a variety of builders (with rare exceptions for especially large and well-segmented communities)

• Consistent themes, such as signage, landscaping, lighting, street names, mailboxes, etc.

• Shared or reciprocal amenities and activities for a variety of lifestyles

• Branding and marketing that give the community a unique and well-recognized identity

WE EXPECT A MASTER-PLANNED COMMUNITY TO HAVE:

Page 5: Master-Planned o 2018 Top 50 - realestateconsulting.comrealestateconsulting.com/wp-content/uploads/2019/01/JBREC-Top-50-MPCs... · Top 50 Master-Planned Communities of 2018 Notable

5Top MPCs of 2018 | John Burns Real Estate Consulting

Top 50Master-Planned

Communities of 2018

Supply constraints sometimes limited 2018 sales. Developers were challenged to deliver lots at a pace matching builders’ demand, and temporary lot gaps were common in many strong housing markets. Bad weather, development trade shortages, understaffed jurisdictions, and backlogged power companies created plenty of headaches.

Two developers placed 4 or more MPCs each in the top 50. Johnson Development accounts for 6 of this year’s top 50 masterplans—5 in Houston and one in Dallas. In addition, Lennar claims 4 of the top 50 masterplans, including those developed by its Friendswood Development and Five Point Communities affiliates and through ventures with other builders. Several developers have 2 masterplans in the top 50, including Brookfield, DMB, The Howard Hughes Company, Land Tejas, Newland Communities, KB Home, DR Horton, and Stratford Land.

Region

SOURCE: John Burns Real Estate Consulting, LLC (January 2019)

TexasSouthwest Florida SouthernCalifornia

5%

10%

15%

20%

25%

30%

NorthernCalifornia

Southeast Northeast

24%

10%

22%

28%

36%

24%

12%

20%

Northwest Midwest

8%

4%2%

4% 4%

0%2%

0% 0% 0%

35%

40%

2018 Top 50 Masterplans by Region

Top 50Top 25

Page 6: Master-Planned o 2018 Top 50 - realestateconsulting.comrealestateconsulting.com/wp-content/uploads/2019/01/JBREC-Top-50-MPCs... · Top 50 Master-Planned Communities of 2018 Notable

6Top MPCs of 2018 | John Burns Real Estate Consulting

Top 50Master-Planned

Communities of 2018

Notable regional shifts versus 2017More Southwest masterplans ranked in the top 50 this year, as in-migration from California and other regions augmented strong local demand. Phoenix claims 5 of the top 50 masterplans, which captured over 2,700 new home sales or nearly 10% of the sales at top 50 masterplans. Eastmark, the #1 Phoenix masterplan developed by Brookfield and DMB, beat prior annual records to top 900 sales in 2018.

Southern CaliforniaSouthern California masterplans represent 20% of the top 50, up from 12% in 2017, but 10% of the top 25.

Northern CaliforniaNorthern California has fewer large-scale masterplans, capturing 8% of this year’s top 50 compared to 6% in 2017, with only 4% of the top 25.

SouthwestSouthwest masterplans claim 24% of the top 50, flat YOY, but the region’s share of the top 25 jumped to 36%.

TexasTexas captures 28% of our 2018 top 50, the highest share of any region, despite cooling from 30% last year. Sienna Plantation by Johnson Development is the only Texas masterplan to place among the top 25 ranking in 2018.

FloridaFlorida captured 22% of this year’s top 50, similar to 2016 and 2017, but 24% of the top 25. Sarasota’s Lakewood Ranch and West Villages mega-masterplans captured two of the top 5 rankings.

SoutheastIn the Southeast, Cane Bay Plantation in Charleston was the only masterplan to rank among the top 25, staying on our list for years. Outside of Charleston, the large Southeast metros have few large-scale masterplans.

Our developer contacts rush to provide us with annual sales only days following year-end. Final accounting over the next couple of months may produce minor adjustments up or down.

SALES TOTALS MAY ADJUST SLIGHTLY.

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7Top MPCs of 2018 | John Burns Real Estate Consulting

Top 50Master-Planned

Communities of 2018

Numerous single-builder communities have sales rivaling masterplans. We exclude from consideration masterplans with only one active builder to avoid sharing confidential, community-specific information at the request of our publicly traded home builder contacts. Numerous entry-level and 55+ communities would qualify for our ranking if we removed the multiple builder requirement. The Exchange by Edge Homes in the Provo MSA and Lennar’s ChampionsGate and Storey Lake projects in Orlando are great examples of single-builder communities with gigantic sales.

More Information: John Burns Real Estate Consulting congratulates the developers and home builders that achieved our top 50 ranking. Please contact Jody Kahn at [email protected] or Devyn Bachman at [email protected] for information on any of the top masterplans.

We invest significant time and effort to identify all top-selling masterplans; however, some developers and investors choose not to participate.

WE CONNECTED WITH DEVELOPER, BUILDER, AND CAPITAL SOURCE CONTACTS TO CONSIDER 410 MASTER-PLANNED COMMUNITIES NATIONWIDE.

VIEW PRIOR TOP 50 RANKINGS ON OUR WEBSITEYou can view our historical rankings since 2010 by visiting the following link:

www.realestateconsulting.com/stay-informed/top-selling-master-planned-communities/

Page 8: Master-Planned o 2018 Top 50 - realestateconsulting.comrealestateconsulting.com/wp-content/uploads/2019/01/JBREC-Top-50-MPCs... · Top 50 Master-Planned Communities of 2018 Notable

8Top MPCs of 2018 | John Burns Real Estate Consulting

Top 50Master-Planned

Communities of 2018

John Burns Real Estate Consulting, LLC, helps executives make informed housing industry decisions. Our passionate team of analysts and consultants from around the country helps our clients identify the best risk-adjusted investment opportunities. We are known for our:

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9Top MPCs of 2018 | John Burns Real Estate Consulting

Top 50Master-Planned

Communities of 2018

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