Woodbridge Pacific Group Brings Award-Winning Track Record To New Ventures
January 31, 2022
Homebuilder/developer Woodbridge Pacific Group (WPG) expects strong growth in 2022, fueled by super-charged demand and favorable land positions it holds in multiple Western market regions. WPG President Todd Cunningham said that two generational cohorts will drive most of the company’s activity.
“Our abiding commitment is to deliver limited edition homes and neighborhoods that respond to specific locales and lifestyles,” said Cunningham. “Baby Boomers and Millennials want distinctive design and quality, at a lower cost than they find in metropolitan areas, and appreciate what and where we build.”
WPG’s latest expansions add new regions and Build For Rent projects to its portfolio of for-sale homes, neighborhoods and master-planned enclaves. “We expect to start 700 for-sale and for-rent homes this year,” said company co-founder Carl Neuss. “In terms of land, new home volume and community amenities, we are highly competitive and quality driven, to the benefit of both our customers and the communities in which we build.”
Coachella Valley—WPG is a one of the largest companies in California’s Greater Palm Springs / Coachella Valley region. Proximity to Los Angeles, San Diego, and Orange County, and celebrated cultural, entertainment, and recreation offer compelling alternatives to California’s far more expensive and densely populated coastal cities. WPG’s early recognition of this region’s many attractions inspired timely pursuit of strategic land positions, and an array of unique niche properties, with such best sellers as Flair at Miralon, Skye and The QUE at Vibe also earning renown in prestigious design and planning awards. Expanding aggressively here, WPG is developing 500 lots in Palm Springs, Palm Desert and La Quinta. All will offer enclave character and such lifestyle advantages as recreational amenities, quality schools and connectivity to work centers, retail, dining, entertainment and cultural destinations.
California’s Central Valley—Active in this market since 2014, WPG will focus primarily on its Belcourt master planned village, part of the Seven Oaks master planned community in Southwest Bakersfield. This year’s plan includes development of 125 lots for upscale family homes. Inspired by local focus group gatherings, Belcourt features pedestrian/bicycle links to Seven Oaks’ retail, dining and commercial enterprises; an internal park; and lavish community club. Walkable, tree-lined streetscapes and discovery points invite sociability throughout its neighborhoods.
Southwest Idaho—WPG entered the Boise MSA after also reviewing diverse locales in Arizona, Nevada, Utah and Washington. In 2020, WPG identified southwest Boise’s Treasure Valley; began acquisitions in Eagle, Star and Middleton; and named Jim Perry Vice President of Operations. WPG has since initiated 6 projects totaling 400 lots. Designs address diverse households of young buyers, growing families and empty nesters. Projected pricing ranges from the $600,000s to the $1.3 millions, with model home openings anticipated in March and July.
“As the move to Idaho demonstrates, WPG’s solid capital base, excellent track record and strategic staffing additions continue to strengthen our capabilities,” said Chief Investment Officer Andrew Murphy. “Adding Build For Rent activity to our portfolio is another example of our robust versatility.”
Build For Rent (BFR)—This rapidly growing sector is WPG’s latest addition to its development portfolio, with debut projects accounting for approximately 1,000 dwelling units in California’s Inland Empire. Foremost Pacific Group (FPG) is a separate business unit established to meet this demand, and first projects include detached or townhome designs geared to couples, families and empty nesters seeking the upscale quality of new, modern for-sale homes. Some seek a desirable residence while considering area purchase opportunities, while others prefer the lower maintenance and convenience of long term rentals. Both groups appreciate convenient locations and neighborhood and community amenities.
“Delivering enticing design in inviting locations remains our dual focus,” said Cunningham. “We are excited about broadening our geographic reach and diversifying the choices we offer.”
Woodbridge Pacific Group is a privately held, selective developer/homebuilder with an excellent track record in all markets, recognized for architecturally distinctive homes in premier locations. WPG’s business platform encompasses real property acquisitions, land planning, entitlement activities, property sales and/or residential development and construction and home sales. Cunningham and Neuss established WPG in 2011, formalizing a collaboration begun in 2005, when Cunningham was president of Woodbridge Homes and Neuss headed Pacific Cascade Group (PCG), his land development company. www.woodbridgepacific.com.