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Design Build typically retired – they’ re in the last few years of their working life – but they want an urban lifestyle and to be closer to the action.” He believes one factor behind the empty-nester skew is the absence of state income tax in Texas.“ About 90 percent of our buyers come from New York or California, often working in fields like tech and financial services, where they can work remotely and relocate for the tax savings.” The younger buyers normally work downtown, often in tech, without children and on a dual income.“ They’ re trading size for location and lifestyle,” he observes.“ The location of our houses allows them to walk to coffee shops, restaurants and music venues.”
Proof of concept
Thomas and Gabe aligned with new partners around 18 months ago to fund the company’ s expansion who agreed on the scalability of the missing middle market and shared the founders’ belief that outstanding design shouldn’ t just be reserved for custom homes. The excellent results of this collaboration are shown in recent projects, such as 1912 South 3rd Street. Due to complete within weeks [ at time of writing ], Thomas says a significant project and proof of concept for everything that comes next.“ Our goal is to go public or sell within four years,” reveals Thomas.“ We’ re in growth mode, aiming to reach 250 homes a year. We’ re already established in Austin, currently undertaking our first project in Dallas, and looking next at moving into Nashville, Raleigh and Seattle. We want to expand our missing-middle product with first-rate design nationally.” ■
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