SummerHill Homes Company Profile

Background

Founded in 1976, SummerHill Homes is a privately owned homebuilder specializing in the development of single-family detached and multi-family housing communities throughout the San Francisco Bay Area. As a division of Marcus & Millichap Company, SummerHill Homes emphasizes innovation, excellence, and timeless elegance in its projects. The company has completed over 83 developments, delivering more than 7,024 homes, including single-family residences, condominiums, townhomes, and apartments.

Key Strategic Focus

SummerHill Homes focuses on creating "Communities of Distinction™" by selecting prime sites and customizing development plans to maximize each location's unique characteristics. The company is committed to green building practices, integrating energy-efficient materials and smart technologies into its homes. By collaborating closely with city officials and neighborhood groups, SummerHill ensures its developments align with community needs and enhance existing neighborhoods.

Financials and Funding

As of October 2024, SummerHill Homes reported an annual revenue of approximately $35 million, with a workforce of around 90 employees. The company operates as a division of Marcus & Millichap Company, a diversified real estate firm, providing a solid financial foundation for its operations.

Pipeline Development

SummerHill Homes has several notable projects in development:

City Village in San Ramon: A 404-home community comprising 268 detached homes and 136 townhouses, featuring a two-acre public park and open spaces. Sales commenced in September 2023.

Nuevo in Santa Clara: A master-planned community with 868 residences, including 537 apartments and 331 for-sale units, alongside retail spaces and parks. Sales for the first phase began in September 2019.

Bellavista in Moraga: A development of 27 single-family homes on half-acre lots, offering panoramic views of Mt. Diablo.

Technological Platform and Innovation

SummerHill Homes integrates smart technologies and energy-efficient materials into its developments, reflecting a commitment to sustainable building practices. The company collaborates with industry experts to stay informed about green building innovations, ensuring homes are durable and environmentally friendly.

Leadership Team

Chris Neighbor: Appointed CEO in April 2024, Neighbor has been with SummerHill Homes for over 16 years, previously serving as President and Executive Vice President.

Robert Freed: Transitioned to Co-Chairman in April 2024, Freed has a background in real estate, corporate finance, and accounting, and has been instrumental in overseeing the company's development operations.

Brady Stephenson: Senior Vice President of Operations, overseeing construction and operational activities.

John Hickey: Vice President of Development, responsible for project development and execution.

Kevin Ebrahimi: Vice President of Development, focusing on new project initiatives.

Lance Freed: Senior Vice President of Land Acquisition, leading site selection and acquisition strategies.

Marjorie Szto: Senior Vice President of Corporate Finance and Accounting, managing financial operations.

Nicki Rogers: Senior Vice President of Sales and Marketing, directing sales strategies and marketing efforts.

Paul Medeiros: Vice President of Site Development, overseeing site planning and development processes.

Steve Biller: Senior Vice President, contributing to strategic planning and operations.

Leadership Changes

In April 2024, Chris Neighbor was promoted to CEO, succeeding Robert Freed, who transitioned to Co-Chairman. Neighbor's extensive experience within the company positions him to lead SummerHill Homes into its next phase of growth.

Competitor Profile

Market Insights and Dynamics

The San Francisco Bay Area's real estate market is characterized by high demand for housing, driven by a robust tech industry and limited land availability. This environment presents opportunities for developers like SummerHill Homes to create high-quality, well-located residential communities.

Competitor Analysis

Key competitors include:

G.J. Gardner Homes: Founded in 1983 and headquartered in Clovis, California, G.J. Gardner Homes operates in the real estate and construction industry, generating approximately 281% of SummerHill Homes's revenue.

Chbhomebuilders: A competitor in the residential building construction sector, focusing on custom home building.

New Home Company: Engages in residential development, offering a range of housing options in various markets.

Strategic Collaborations and Partnerships

SummerHill Homes collaborates with various architectural and engineering firms to enhance its projects:

Woodley Architectural Group: Designed the E-Homes and E-Towns for the Nuevo development.

KTGY Architecture + Planning: Designed the 537-unit apartment community and 120 condominium units in Nuevo.

SDG Architects: Designed the 176 TownFlat units in Nuevo.

HMH Engineers: Provided engineering services for the Nuevo project.

R3 Studios: Served as the landscape architect for Nuevo.

Operational Insights

SummerHill Homes differentiates itself through a deep understanding of the Bay Area market, a commitment to quality and sustainability, and strong relationships with local communities. The company's focus on infill development and green building practices positions it favorably against competitors.

Strategic Opportunities and Future Directions

Looking ahead, SummerHill Homes aims to expand its portfolio by developing new communities that address the housing needs of the Bay Area. The company plans to build an additional 1,200 homes between 2024 and 2026, surpassing its 85th community milestone. By leveraging its expertise in sustainable building and community engagement, SummerHill Homes is well-positioned to meet future market demands.