GLHomes Opens its Seventh Valencia Community and Sells 38 Homes in the First Three Weeks

Garrett Foster
Advertising Real Estate Writer

Last month, on January 24, G.L. Homes held the grand opening of its latest active-adult community, Valencia Reserve, to a crowd of over 1,000 enthusiastic people. The same thing happened the following day, and they’ve been busy ever since.

In fact, the company, which has over 30 years of experiencing creating single-family homes, already has 48 solid contracts on homes in Valencia Reserve.

There were 22 prospective buyers who did not want to — or couldn’t — wait a year for their new home to be built, but were impressed enough with what they saw to purchase quick-delivery homes at Valencia Reserve’s sister community, Valencia Pointe, also in West Boynton Beach.

Here, Theresa Fowler, vice president/project manager for G.L Homes, explains why she believes the builder is so successful, even in a troubled economy. Fowler, who has been with the company for an impressive 20 years, says she’s as passionate about what she does now than ever — and that she is absolutely optimistic about the future of G.L. and South Florida.

Get Homes: What is G.L.’s philosophy of doing business?
Theresa Fowler: Doing the right thing. The character and the integrity of the organization speak for themselves. We add the personal touch. As the vice president, I’m out in the field making decisions that others might only make in the corporate office. The advantage is that I can feel the pulse of the community and the residents. I even run the HOA meetings, instead of hiring a property management company to do it.

GH: What defines a G.L. community?
TF: From the magnificent entrances, to the well thought out landscaping and state-of-the-art clubhouses, our communities emulate elegance. You also will never drive down a main street in a G.L. community and see the front or back of a home. We purposely do this to create a sense of intimacy and a neighborhood feel. The homeowners continue creating that intimacy by socializing at the clubhouse and getting involved in one of the many clubs they form.

GH: What influenced your decision to open another community during a time in which new construction is viewed by many as such a risk?
TF: We exhausted all opportunities for lakefront homes and Crown Series homes at Valencia Pointe, so it kind of forced our hand. I know it sounds crazy in this economy, but we’re committed to the Valencia brand, which is going on 13 years. (The Valencia communities include: Valencia Lakes, Isles, Falls, Shores, Palms, Pointe and now Reserve.)
Sure it’s a risk: we’re putting $20 million into the ground at Valencia Reserve and another $10 million for the clubhouse, but we believe the buyers are there. The baby boomers who make up our market only turned 62 last year, so they’re just beginning to retire. Because of the current economy, some might downsize their dream a bit, or put it off for a while, but they won’t wait long to start this phase of their lives.
As proof of that, we had six people actually camp out the night before the grand opening at Valencia Reserve — talk about reliving history — because they had their hearts set on getting a certain lot.

GH: What models have been the most popular at your Valencia communities?
TF: We just opened the Vintage Series, which has been well received. The Signature Series has always been the most popular series, though, because it is moderately priced — you can purchase one now from $249,000 to $369,900 — and we place them in great locations within the community on zero-lot lines to keep them affordable.
We’ve actually designed our site plans around the popularity of the Signature homes. They especially appeal to our demographic because they’re not too big or small. The average size home in the Signature Series is about 2,000 square feet.

GH: Have you found that buyers are cutting back on the number of upgrades they now choose?
TF: Fortunately, our homes come loaded with standard features that are typically considered options. Beyond that, though, people may be spending less, but they’re still spending. Many of them believe that this will be their last home, and they want it to be just right.

GH: G.L. is known for their clubhouses. Will the one at Valencia Reserve be different in any way?
TF: They all have the same or greater elegance level, but they’re all different; we don’t template them. This one will be 41,000 total square feet versus 35,000 at Valencia Pointe because Valencia Reserve is going to be a bigger community. It will have similar amenities, including four card rooms, a fitness center, a café, an Internet room, a billiards room, and tennis and basketball. It will also have a social hall, which is one of the major draws at our communities. The social hall has stages for performances. The residents also have lots of parties there.
At Valencia Reserve, we’re also going to have a separate resort-style swimming pool and lap pool, and we’re going to have a Wi room. That’s a new amenity for us and something I know our residents will use.

GH: How long will it take for the clubhouse to be built?
TF: The first homes will be complete by the end of 2009 or the beginning of 2010, and the first section of the clubhouse will be open about a year after that. The second phase will follow soon after, but all uses will be available.

GH: Are your buyers local or from out of town?
TF: Both. We get a lot of people from the North, especially the New York area, but we’ve also had local buyers who have been living in country-club communities and no longer want to pay the equity membership, dining fees and high assessments. They’re getting a great lifestyle here without all those fees.

GH: What advice do you have for buyers who may be on the fence in today’s economy?
TF: The only regrets we have in life are the things we don’t do. Don’t miss out on this extraordinary opportunity because now really is the time to buy. It’s a buyer’s market, and we have strategically positioned ourselves to be there for the buyer.Many people say they’d like to buy, but they can’t face having to sell their home for $100,000 less than what they could have once gotten. I always have to remind them that it’s really relative, since the home they want to purchase now would also have been worth $100,000 more at that time.

GH: What’s the one last thing you’d like people to know about G.L. Homes?
TF: It’s not uncommon for residents to convince family or friends to move here, or to buy multiple homes themselves in different communities. That’s really exemplary and speaks volumes about our reputation.