PulteGroup Expanding into New Markets in Colorado and North Carolina

PulteGroup, Inc. (NYSE: PHM), the nation’s third largest homebuilder, announced its plans to enter the Denver market and expand into the Triad area of North Carolina.

“This strategic expansion provides another avenue of growth and allows us to extend our high-returning operating model into important new housing markets,” said Ryan Marshall, PulteGroup president and CEO. “Having made these initial investments, we see the potential to introduce our first-time, move-up and active adult brands to each of these markets in the future.”

The first new Pulte Homes community in Colorado will debut at Sterling Ranch, a master-planned community in northern Douglas County, which is expected to open later this year. This community will sell under the Pulte Homes brand and offer the innovative floor plans and outstanding quality for which Pulte is known.

“We are excited to be entering the Denver market and start building a strong local presence,” said Les Anderson, PulteGroup’s division president for New Mexico and Colorado. “Sterling Ranch is our initial community, but we already have a number of other projects under review to further our entry into Colorado.”

Separately, PulteGroup is increasing its presence in North Carolina, expanding into the Piedmont Triad region of Greensboro, Winston-Salem and Burlington, located approximately 75 miles northwest of Raleigh. The first of several planned communities will begin construction this year in High Point.

“Thanks to its central location, low cost of living and top-rated schools, the Triad has become a highly sought-after area for homebuyers,” said David Carrier, Raleigh division president for PulteGroup. “We are thrilled to expand into this part of the state to help meet the growing demand for new homes and continue delivering exceptional homebuyer experiences in North Carolina, as we have for the past 35 years.”