04 Mar Custom homes leader shows strong belief in south Charlotte's future
Arthur Rutenberg Homes is putting its faith and money behind the Queen City’s housing market, as the custom home builder continues to expand its presence in south Charlotte.
After moving regional offices to Ballantyne and opening a franchise in nearby Matthews, the national developer is making headway on finishing their first model home in the Charlotte market. Though construction crews won’t finish the model until May, Jim Rosewater, Rutenberg’s regional vice president for the Carolinas, is already looking for a place in south Charlotte for the company’s next model home.
Rosewater said Arthur Rutenberg leaders aren’t blinking at the challenge still facing most builders. In fact, they believe the company will benefit from it.
“(South Charlotte) is a highly-desirable place to live,” Rosewater said, listing the area’s schools and convenience to uptown Charlotte as pluses for any resident. “It’s a great place to live, and people want to build new houses in places they want to live, and that’s why we feel strongly about south Charlotte.”
Rosewater and Mitch Genda, co-owner with Rosewater of the Arthur Rutenberg franchise Paragon Homes in Matthews, both live in south Charlotte. Their model home is currently under production in the Springfield neighborhood in Fort Mill, S.C., and they just signed as one of the featured builders for The Club at Longview, an exclusive local community off Tom Short Road in the Village of Marvin.
They’re ready to take advantage of whatever the market will give them. “We’re not only ready to roll, we’re rolling now,” Rosewater said.
Since they only arrived in the Charlotte market a few months ago, Paragon Homes doesn’t have any old inventory from the recession dragging them down today.
“We started new and had a clean slate,” Rosewater said. “We don’t have the challenges facing many other builders – no inventory homes or lots or things like that.”
As such, the builders say they’re in the ideal position to expand their footprint in south Charlotte.
“Many builders in the market have had a lot of inventory (they’ve) carried for a long period of time, so they’re defaulting on their obligations in terms of commitments they’ve made when things were good,” Genda explained. “They’re in preservation mode instead of looking for more opportunities. (They’re) just trying to keep things above water.”
For now, Rosewater and Genda have to hope their hard work pays off and the faith of Arthur Rutenberg is rewarded. The group’s partnership with The Club at Longview is a big step forward, but the real test will come when their first model home is ready in May and home buyers can get a look at what the company can offer.
“The model is our storefront, even though we aren’t in retail,” Rosewater said. “But the way we operate, that is our storefront, and until it opens, it’s hard for people to understand what we offer.”