A company focused on building single-family houses in North Carolina will become part of Stanley Martin Homes as it continues to expand its presence in the South.
The neighborhoods Windsor Homes has under development will be rebranded as Stanley Martin projects, the latter firm said in a statement Wednesday. Windsor currently has control of 2,100 house lots, with 270 homes under construction. Most of its projects are in the Triad region, which includes Greensboro, Winston-Salem, High Point and Burlington. The company also has projects in the Wilmington area on the Atlantic coast.
“This acquisition is a strategic step in our continued expansion across the Southeast,” Stanley Martin president Steve Alloy said in the statement. The company described North Carolina as “one of the fastest-growing housing markets in the southeastern United States.”
Mergers between larger and smaller builders have been more common amid persistently high interest rates that have made it harder for companies to sell new homes, according to Justin Benefield, academic director for Auburn University's Winchester Institute for Real Estate Development. He told Homes.com recently that slow sales have put “a squeeze on smaller builders.”
Joining Stanley Martin "ensures that our legacy of quality and customer care will continue to thrive, supported by the resources and expertise of a respected industry leader," Windsor president Tom Hall said.
Among Windsor’s active housing developments in the Triad region are Kernodle Landing in Burlington, which includes homes of three to four bedrooms on lots averaging one acre each. The properties are priced from $415,000 to $580,000. Near Wilmington, the company has two- to five-bedroom homes in the Ruffins River project starting at $350,000.
Stanley Martin, a Reston, Virginia-based subsidiary of Japan-based Daiwa House Group since 2017, has built more than 40,000 homes across seven states from Maryland south to Florida.