Publication Date:
Tue, 2011-04-26 05:41
Article Image:
David Weekley partners with Estridge Group, enters Indianapolis market
PHOTO: Home sales by the new company will begin in May in the Anderson Hall community and soon thereafter at Highland Green.
David Weekley Homes [1], the nation’s second largest privately held home builder, has formed a partnership with Carmel, Ind.-based builder Estridge Group [2] to expand into the Central Indiana market.
Last month, Estridge discontinued its sales operations due to difficulty obtaining construction financing, despite having 25 new homes sold. Media coverage of Estridge’s situation drew national attention and caught the eye of David Weekley, chairman of David Weekley Homes.
“We are thrilled to be expanding into the Indianapolis market,” commented Weekley in a press release. “Although we weren’t looking to expand into Indianapolis, I was intrigued by the idea because I knew we had similar business philosophies and saw an opportunity. There is good potential in working with Paul [Estridge] and his team to continue to build premier homes and neighborhoods in Indiana.”
David Weekley Homes was founded 1976 in Houston and has built more than 65,000 homes in 14 markets across the country. The company has earned many coveted industry and business awards, including the “Triple Crown of American Home Building” — an honor which includes America’s Best Builder, Builder of the Year, and the National Housing Quality Award.
"We were fortunate to have a solution,” said Estridge. “The option of joining up with David Weekley Homes gives us the ability to continue to build homes and satisfy Homeowners.” Estridge will become the Indianapolis Division President of David Weekley Homes.
Home sales by the new company will begin in May in the Anderson Hall community and soon thereafter at Highland Green. Negotiations are underway to open in other neighborhoods. Construction of new homes will begin in June.
