HOUSTON – (Realty News Report) – Partners In Building, a Houston-based custom home builder founded in 1986, has acquired Paul Taylor Homes, providing a substantial platform for immediate expansion into the Dallas-Fort Worth market.
Partners In Building currently constructs more than 250 homes annually across Houston and Nashville and is known as one of the largest custom home builders in the South. The company has a strong presence in Houston’s Inner Loop tear-down market, where older, obsolete, or flood-damaged houses are demolished and replaced with upscale custom residences.
With the acquisition of Paul Taylor Homes, Partners In Building will introduce its popular Build On Your Lot program to the Dallas-Fort Worth region, focusing on in-city neighborhoods experiencing active demolition and rebuilding, as well as owners of rural acreage seeking custom second or primary homes.
The deal includes roughly 80 homes currently under contract and at various stages of construction, with an average sales price near $800,000. Also part of the transaction are more than 120 homesites, three model homes, Paul Taylor Homes’ portfolio of designs, and the corporate office lease at 17950 Preston Rd. The combined business will operate under the Partners In Building name.
Approximately 16 current Paul Taylor Homes employees have been offered positions with Partners In Building, preserving institutional knowledge and continuity for clients and projects.
“The talented and dedicated team at Paul Taylor Homes is one of its greatest assets, with many employees who have served the company for more than a decade,” said Chris Lemming, who has been named President of Partners In Building’s Dallas-Fort Worth Division. “We are pleased to continue working with this experienced team, which gives us a strong foundation to expand on the reputation Paul Taylor Homes has built over the past four decades.”
Partners In Building intends to retain Paul Taylor Homes’ traditional emphasis on custom homes built on larger lots in areas east of I-75, while also expanding into several high-growth suburbs and communities: 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 exploring expansion into Fort Worth.
The company will continue to offer the Paul Taylor portfolio, which has averaged about $800,000 per sale, while also providing larger and more expensive custom options drawn from Partners In Building’s traditional range, typically priced between $1 million and $3 million.
In addition to urban and suburban custom homes, Partners In Building will extend its custom sales processes to owners interested in vacation properties and second homes on rural, farm, ranch, and lake sites across the Metroplex.
Partners In Building projects it will close roughly 70 homes during its first year in the Dallas-Fort Worth market, with a goal of exceeding 200 home sales annually within a few years. The company is actively negotiating with multiple developers to secure homesites in both new and established communities and will consider opportunities to develop its own homesites.
Dallas No. 1 in Home Building; Houston No. 2
Recent data from the National Association of Home Builders shows Dallas leading the nation in housing starts, with Houston ranking second. Given the robust economic growth in the Dallas Metroplex, Partners In Building sees the region as a potential primary market for its operations.
The firm is led by President Jim Lemming, a Dallas native and University of North Texas alumnus who has extensive experience in the Houston market.
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