Christopher reverts to private ownership

Christopher Homes reverted to private ownership last month after a five-year affiliation with The Fortress Group, a nationwide home builder based in McLean, Va. Chief executive J. Christopher Stuhmer, who established Christopher Homes in 1981, said repurchasing his company was both a timely and sensible move.

"We found that it makes much more sense for a company like ours to operate under a private structure rather than a public one," Stuhmer said. "Public companies are valued based on financial ratios that are more conducive to less expensive homes. They tend to try to meet the needs of a much broader segment than a builder like Christopher Homes, which concentrates on the luxury market. Also, the task of integrating very diverse organizations in different locations throughout the country can be very daunting and expensive. For those reasons, it made sense to buy the company back.

"The level of excellence we are recognized for is far easier to sustain as a private company, as opposed to a conglomerate, where the emphasis is on growth in all markets. Growth is part of the plan, but it is not our primary focus. The real focus is to continually improve the level of quality in every aspect of our relationships with our customers, our trade partners and our employees. We feel that we are already the leader in these areas, but we continually strive to raise the bar."

Stuhmer did say, however, that without the management team he has in place, that he would not have repurchased the company.

"This is a people business and you need great people in order to build great homes," he said. "... We have a core group of individuals that are the best in the industry. Most of our key management people have been with us for 10 years or more and have risen to the top of their disciplines. We also attract new people who are among the best in the industry and want to be part of this company because of what it does and what it represents."

Company President Steve Hackney has 25 years of experience in home building, on both the public and private sides.

"One of the wonderful discoveries I made upon joining this company is the family spirit that exists within the organization," Hackney said. "Everyone feels as though they are really part of something special, which is important for employee development and, most importantly, for maintaining consistency in the quality we deliver to our customers."

Stuhmer plans to continue developing high-end production-home neighborhoods, and to expand the company's full-service custom-home division. The division has nearly 30 homes under construction in such communities as Summerlin, Southern Highlands, Lake Las Vegas Resort, Seven Hills, Anthem and MacDonald Highlands.

Among the neighborhoods Christopher is developing are The Villas and The Christopher Collection, both of which are located within the guard-gated Southern Highlands Golf Club community in the southwestern valley. Southern Highlands provides roving security, concierge service, and recreational facilities that include a sports and fitness center, swimming pool, tennis courts and a clubhouse.

Seven designs are available at The Villas, and range from 2,100 to 3,400 square feet. Homes are priced from the mid-$300,000s to the mid-$800,000s. The 15 single- and two-story floor plans within The Christopher Collection measure from 3,000 to 6,200 square feet and are priced from the mid-$400,000s to more than $1 million. To tour these sites, take Interstate 15 to St. Rose Parkway and exit west, following the signs.

The builder is developing three guard-gated neighborhoods within Summerlin, a master-planned community that aligns the western edge of the Las Vegas Valley. Both Bellacere and Palisades overlook the TPC at The Canyons golf course.

Designed for homes valued from about $650,000 to more than $4 million, Bellacere offers half-acre custom-home sites in a setting highlighted by entry monuments, a park, tennis court, play area, and landscaped open space. To visit, take Summerlin Parkway to Town Center Drive, head south to Alta Drive then go east. Information about the builder's custom-home division is also available at Bellacere.

Palisades features five single- and two-story designs built on lots ranging from one-quarter acre to nearly one-half acre. Floor plans measure from 3,758 to 6,200 square feet and are priced from the mid-$400,000s. To visit, take Summerlin Parkway to Town Center Drive then head south to Hualapai Way.

Vineyards is situated within The Arbors village. Buyers can choose from four single- and two-story floor plans, ranging from 3,072 to 5,000 square feet. Prices start from the high $300,000s. To tour the neighborhood, take Summerlin Parkway to Town Center Drive, go south to Alta Drive then turn east.

The guard-gated community of Queensridge North is where the builder is developing San Michelle, a neighborhood of single- and two-story homes. Homes measure from 3,474 to 5,200 square feet and are priced from the high $500,000s. To visit the community, take Summerlin Parkway to Rampart Boulevard, head south to Alta Drive then go west.

Christopher offers options such as elevators, motor courts, courtyard fireplaces, casitas, room and bath additions, four-car garages, bonus rooms, libraries, wine cellars and wet bars. In-house architectural and interior designers are available to assist buyers.

All sales offices are open daily from 10 a.m. to 6 p.m.

Real Estate home