Colorado builder makes big move into Central Texas

Sep 13, 2013
Austin American Statesman

Jumping into Central Texas’ robust housing market, Colorado-based Century Communities Inc. has acquired the Austin and San Antonio assets of Georgetown-based Jimmy Jacobs Custom Homes

Combined with six other new transactions in Austin, Century Communities now has ownership or control of 915 lots in Austin and San Antonio, at a time when developed lots in prime locations are in short supply

“These transactions highlight our entry into one of the strongest areas in Texas and represent a natural continuation of our strategy to focus on the best locations in markets with favorable demographics and economic growth,” said Robert Francescon, co-chief executive officer of Century Communities

“Austin has been one of the fastest-growing metro areas in the country over the past several years having attracted some of the most innovative companies, resulting in strong population and employment growth and tight supply of homes for sale.”

Michael Kahn, managing principal of Michael P. Kahn & Associates, said Century bought the “vast majority” of Jimmy Jacobs’ assets and operations, though “not 100 percent.” Century plans to continue to use the Jimmy Jacobs brand, Kahn said

Century Communities is a leading builder of upscale single-family homes, townhomes and flats in desirable areas in Denver, Colorado Springs, Fort Collins, Colorado, and now, Austin and San Antonio. Steve Hayes, a 20-year veteran of the Texas home building industry, will head up Century’s Central Texas operations as division president

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