Ready or Not, Homebuilders Are Back

Shaking off the bust, builders are breaking ground on big projects
Photograph by Bear Guerra for Bloomberg Businessweek

Standing on a rough plateau in the foothills of Orange County’s Santa Ana Mountains, Seth Ring swears that on a clear day, you can see the Pacific Ocean. That vista is part of what makes Ring, a vice president at the nation’s largest luxury homebuilder, Toll Brothers, excited about the land under his feet, an undeveloped 387-acre site 50 miles south of Los Angeles. Toll plans to put up as many as 1,780 houses in a joint venture with Shea Homes. Here, orange earthmovers have begun digging into the shrub-strewn soil to make way for the sewers, roads, and other infrastructure that must be in place before model homes can open in 2014. “This,” says Ring, “is our big ‘we’re back in’ play.”

To continue reading this article you must be a Bloomberg Professional Service Subscriber.