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LGI Homes
LGI Homes is a Texas-based builder of housing developments, with its development projects mostly focused in the southwestern region of the United States. According to ''Builder Magazine'', LGI Homes is the 21st largest home builder in the United States. In 2013, the company announced that they would be expanding to the southeast, and that plans to develop new home communities in Florida and Georgia were in place. The company began building houses in the Houston area in 2003.
Total revenue for LGI Homes in 2011 was $86 million, a 49% increase from the prior year, while end totals for 2012 show 1,062 homes sold and $149 million in revenues, with a 58% increase over 2011.〔 LGI Homes closed 1,617 homes in 2013.
LGI Homes began publicly trading shares of their company on November 7, 2013. The share price of the initial 9 million shares rose from $11 per share to $12.26 by market closing, an increase of 11%. According to LGI Homes CEO Eric Lipar, the company plans to use the $90 million they raised to grow their company even more, with plans to expand particularly in major Texas markets.
==History==
LGI Homes was founded by Tom Lipar in 2002 in The Woodlands, Texas. In the next year, the company closed on its first home. From there, the company expanded with housing developments in Houston, Austin, San Antonio and Dallas, Texas. Builder Magazine named LGI Homes the industry's fastest growing private company of 2008.〔 In 2011, they expanded outside of Texas for the first time to include developments in Phoenix, Arizona. In the same year, the company was recognized as the only builder on the Top 100 list to post gains across the three previous consecutive years. LGI Homes was named one of the Houston Fast 100, based on revenue growth in 2012.〔 The builder has started selling homes in the Tampa and Orlando areas, and has started planning and developing more communities in Orlando and new communities in the Atlanta metropolitan area.
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