Builder- March 2009 - (Page 66) AMERICA’S BEST BUILDERS 2009 URBAN PIONEERS EYA was founded to do one thing— dense, urban infill housing. Today, few builders do it better. BY NIGEL F. MAYNARD TRUE GRIT: EYA excels at building homes with classic detailing. EYA Chairman: Terry Eakin President: Bob Youngentob CFO: Frank Connors COO: Andy Warren Company Focus: Mixed-used, mixed- I income urban infill development Employees: 60 Year Founded: 1992 Web site: www.eya.com Notable: Started in suburban edge cities, but now develops dense, mixed-used urban infill projects near transit and existing neighborhoods. As a commitment to green building, it recently began construction on what is targeted to become the nation’s largest LEED for Homes residential for-sale neighborhood. One of the first builders in the nation to use Latista inspection software. FINANCIAL PERFORMANCE REVENUE CLOSINGS 250 $150 200 $120 150 $90 100 $60 50 $30 2005 2006 2007 2008 f you’ve been previously named America’s Best Builder, it’s a good bet your company is doing something right. But you know you’re special if you win the honor twice in eight years. This year, Bethesda, Md.–based Eakin Youngentob (EYA) fi nds itself in that enviable position. EYA is a moderately sized builder/ developer specializing in mixed-used and mixed-income infi ll developments in and around the Washington, D.C., area. A 16-year-old company, it has developed a reputation for architecturally driven, progressive developments that appeal to urban-lovers. “Our general market is every type of urban lifestyle–driven buyer you can think of,” says president Bob Youngentob. “It’s everything from Gen X and Gen Y to professionals, singles, couples, and empty-nesters.” The builder’s projects are relatively small, 98 percent attached, and thoughtfully conceived and designed. Exteriors mostly skew traditional, but interiors feature contemporary, open plans. And the design is specific to the neighborhood. “We don’t design a catalog of a bunch of models and take a suburban land plan and start plopping them down,” says Greg R. Schron, vice president of architecture. “They’re all contextual with the existing neighborhood and existing vernacular,” Schron continues. “We spend a lot of time and energy making sure we respect the existing architecture in the neighborhood.” As a testament to its success, the builder has achieved above-average returns on over $1 billion in sales for the past 16 years. SMART GROWTH Urban infill was the focus from the moment chairman Terry Eakin and Youngentob started the company in 1992. Having previously worked on similar projects at local developer The Holladay Corp., the two men recognized an untapped market for urban projects and saw growth for the future. “We felt that if we really focused our energy on this one particular segment, there was a tremendous number of people, both young professionals and empty-nesters, who aspire to the lifestyle,” Youngentob says. Other builders ignored this niche and EYA benefited. “Nobody was really trying to recreate neighborhoods or go in on a large scale and take two or three city blocks and rebuild those neighborhoods,” Youngentob explains. Today, EYA’s project locations contribute directly to its success. Its motto, “Life within Walking Distance,” sums up its philosophy. “We wanted to do one thing well, and we’ve kept virtually the same focus for our company since the day we opened our doors,” Eakin says. But not all of EYA’s infi ll projects are in typical downtown urban locations. The company built its brand doing market-rate projects in sought-after Washington suburban edge cities such as Alexandria, Va., but its strategy has evolved. “We’ve also done really well going into areas that have been under-supplied with new housing alternatives or have had some challenges,” says COO Andy Warren. Such areas include the now-burgeoning U Street Corridor in Washington, downtown Silver Spring, Md., and the Hyattsville Arts District in Prince George’s County, Md. Since the 2000 ABB win, EYA has (in millions) Courtesy EYA 66 ■ B U I LD E R m a rc h 2 0 0 9 W W W.BUILDERONLINE.COM http://www.eya.com http://WWW.BUILDERONLINE.COM
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