Property development company has 7,400 lots in the works for delivery!
Atlanta-based asset management and property development company, St. Bourke is focused on helping to solve the massive undersupply in lots nationwide and doing it with a strong focus on placemaking. At present, St. Bourke’s portfolio consists of nearly 100 residential projects comprising nearly 26,000 residential lots across various U.S. markets. Thirty-two of these projects, which combine for more than 7,400 lots, are in some stage of the horizontal development process. St. Bourke is on-track to deliver these homesites to various investment and homebuilding clients over the next 6 to 24 months.
“While our primary focus at St. Bourke is on delivering finished homesites to market on behalf of our clients, we pride ourselves in doing so in a thoughtful way that allows us to create interesting places that people can connect with,” St. Bourke President Ben Simpson said. “Places where people want to live, places that truly feel like home.”
Estimates from Harvard Joint Center for Housing Studies show the U.S. is short 5.24 million homes, up from 2019. The pandemic and recent demand for homes intensified the housing shortage by further depleting the existing inventory, creating an even bigger gap between supply and demand. Lot inventory fell alongside housing inventory as homebuilders, racing to fill unmet demand, began buying as many finished lots as possible to avoid any lulls in production.
Focused on Southeast communities, St. Bourke specializes in the design and development of new residential communities as well as the revitalization of stalled or abandoned communities.
With less than a month of housing supply in Atlanta metro (.7 to be exact), the lot shortage is real.
“If your lot production isn’t keeping up with demand, then you aren’t going to have enough houses,” MarketNsight Principal John Hunt said. “You have to have lots to have housing.”
St. Bourke is breaking ground on three projects in the next month alone, including future phases of existing communities in Douglas and Gwinnett counties and a new community in Carrollton.
St. Bourke is an asset management and property development company primarily focused on residential communities and commercial assets. Offering a full suite of placemaking services ranging from acquisition through detailed design and development to ongoing management, St. Bourke creates thriving communities and drives significant value for its clients, partners and community stakeholders. Since its inception in 2015, St. Bourke has helped a variety of both private and institutional clients achieve their project goals. With more than 90 active projects across 20 U.S. markets, the St. Bourke portfolio consists of more than 12,000 acres of land and 25,000 residential lots. For more information on how to work with St. Bourke from the ground up, call 678-853-2530 or visit www.StBourke.com.
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