Tri Pointe Homes, one of the largest homebuilders in the U.S., has announced that it is opening of a new division in Utah. The Incline Village, Nevada-based company, employer of more than 1,500, said its operations will be based in the Greater Salt Lake City region.
Tri Pointe Homes’ said its expansion capitalizes on the rapid population and job growth that Utah has been experiencing for more than a decade and that is a key driver of housing demand.
“We conducted in-depth research into the Utah market leading up to our expansion into the region,” said Tom Mitchell, president and chief operating officer of Tri Pointe Homes. “We are a growth company that looks closely at each new market’s fundamentals and carefully analyzes how we can best execute on them. When studying the Utah market, we saw clearly how Tri Pointe Homes’ model of being a customer-driven, premium lifestyle builder will fill a need in a very strong market. We are excited to announce our expansion into Utah and are confident it will prove to be a successful strategic move for Tri Pointe Homes.”
“Utah’s consistently strong housing market is fueled by its diverse economy, which provides a runway for long-term growth,” said Ken Krivanec, who has been named as president of the new division. Krivanec, who has served as division president for Tri Pointe Homes’ Washington division for 12 years, will serve in a dual president role. “The state is home to a large number of different industries, including tech, life sciences, aerospace, financial services and energy/natural resources. This diversity has led to one of the strongest job growth markets in the country which coincides with an ever-increasing demand for housing.”
“Ken is the ideal leader to launch our new Utah division,” said Mitchell. “Having been raised in Utah, working in the industry there previously, and regularly travelling over the last decade between the Washington and Utah markets, Ken has deep ties and a profound understanding of the market. Ken is a strategic and collaborative leader who has the backing of a highly qualified and engaged team in Washington, which will allow him to take on this expanded leadership role focusing first on land and talent acquisition and contribute in a significant way to Tri Pointe Homes’ strategic growth in both the Washington and Utah markets.”
Tri Pointe Homes Inc. is a publicly traded company and builds premium homes and communities in 10 states.