RS Parker, a family-owned home builder headquartered in Myrtle Beach, SC with residential developments throughout the Carolinas, announced today that it is transitioning its business from home building to residential development. The firm will complete all contracted and under construction homes within the first six months of 2018, and will sell a portion of its remaining inventory of lots to H&H Homes and Caviness & Cates, two home builders headquartered in Fayetteville, NC.
“The transition from builder to developer will be a seamless one for all of our existing new home clients,” said Ronnie Parker, Jr. “We will complete construction on existing and contracted new homes and maintain warranties for each, just as we’ve done for the past 15 years. And residents within our existing neighborhoods can all rest assured that the balance of new homes in these neighborhoods will all be built to the same high standards as they’ve come to expect from RS Parker, because we have partnered with the two of the best builders in the Carolinas in H&H Homes and Caviness & Cates.”
Added Parker, “The decision to restructure our firm after 15 years was not done lightly but was the right decision, as it will allow us to focus our efforts on what we do best, which is identifying and developing unique parcels of property for new home neighborhoods.” Since its inception in 2002, RS Parker has built more than 1,200 homes in Myrtle Beach and more than 400 in the Triad (Winston Salem, Greensboro, and High Point area of North Carolina).
As of December 15, RS Parker will no longer accept pre-sale contracts for new homes. Beginning in January, H&H Homes will purchase a select number of RS Parker’s inventory of non-contracted lots in Wilmington and the Triad, and both H&H Homes and Caviness & Cates will purchase some of the non-contracted lots in Myrtle Beach. The total number of lots to be purchased and marketed to new home buyers by the two builders is approximately 600. This is H&H Homes’ first foray into the Triad market, although both builders are already quite active in the Myrtle Beach market.
Moving forward, RS Parker has a significant portfolio of undeveloped lots that it plans to develop and sell to H&H Homes and Caviness & Cates as they become available. “This partnership with H&H and Caviness & Cates is for the long-term,” said Parker. “RS Parker is not going away – we’re just shifting our focus. We have numerous development opportunities either underway or on the horizon and we look forward to continuing to work with these two builders for many, many years to come.”
According to Parker, the firm employs approximately 50 people, most of whom will transition their employment to H&H Homes or Caviness & Cates. RS Parker will retain its warranty personnel in Myrtle Beach and the Triad to continue to provide warranty support for its new homes in those markets. In addition, RS Parker’s subcontractors and vendors will also transition to H&H Homes and Caviness & Cates, and several already have existing working relationships with both firms.
“We are very excited about our new partnership with RS Parker, as this company is not only a very successful builder in highly sought-after markets, but also because they have a complimentary culture and operational structure,” said Ralph Huff, founder of H&H Homes. “In addition, this opportunity supports our goal to expand our footprint in the Myrtle Beach market and to become one of the largest builders in the Grand Strand.” H&H Homes is currently building in nine Myrtle Beach communities, and with this new partnership, it will add four new communities and approximately 100 lots in 2018.
According to Parker, finding the right building partners for this transition was critical to its success. “We’ve been friendly competitors with H&H and Caviness & Cates for the past several years in Myrtle Beach and have always been impressed with their quality and professionalism. We look forward to a long and successful partnership with both firms.”
Added Chris Cates, owner of Caviness & Cates Communities, "Our partnership with RS Parker presents a great opportunity for Caviness & Cates to continue our growth within the Myrtle Beach market. Adding five new communities to our portfolio will result in an additional 150 new home opportunities in 2018. We believe the shared quality and values of RS Parker and Caviness & Cates make this an excellent partnership opportunity.”
ABOUT THE BUILDERS
Established in 1991 by Ralph and Linda Huff, H&H Homes was originally formed to provide high-quality affordable new homes for military families serving at Fort Bragg in Fayetteville, NC. Today, the company has grown to six metro areas in the Carolinas and has built more than 6,250 homes.
Caviness & Cates was founded in Fayetteville, NC in 1999 by Watson Caviness and Chris Cates. The firm builds homes in more than 35 communities in North and South Carolina and has a significant presence in Myrtle Beach, SC.
Both H&H Homes and Caviness & Cates have been featured in Builder Magazine’s Builder 100 list, which highlights the nation’s leading builders based on annual closings from the prior year. H&H Homes was first featured in the Builder 100 in 2009 and today ranks at #78. Caviness & Cates first made the Builder 100 in 2009 and in 2017, ranked at #87.
Additional information on each firm can be found at rsparkerhomes.com; hhhomes.com and cavinessandcates.com.