Ryland Homes
From Wikipedia, the free encyclopedia
| The Ryland Group, Inc. | |
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| Type | Public (NYSE: RYL) |
| Founded | 1967 |
| Headquarters | Calabasas, California, USA |
| Key people | Chad Dreier (Chairman/CEO) |
| Industry | Homebuilding |
| Products | Construction, Real estate, Financial services |
| Revenue | $4.818 Billion USD(2005) |
| Net income | ▲ $447 Million USD (2005) |
| Employees | 3,200 [1] |
| Website | www.ryland.com |
Ryland Homes is the United States' 11th-largest developer and home-builder. The builder, based in Calabasas, California, has built over 250,000 homes across the United States since its inception, focusing primarily on first-time homebuyers and first- and second-time moveup buyers.[2][3] Ryland currently serves 28 markets in 18 states and the District of Columbia.[4]
In addition to its homebuilding segment, Ryland's other main business unit is Ryland Mortgage Company, which specializes in financial services such as consumer mortgages, homeowner's insurance, title, and escrow services.[3][5]
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[edit] History
James P. Ryan left Pittsburgh, Pennsylvania-based Ryan Homes in 1967 to form the James P. Ryan Company, and the new company became the first and largest builder in the planned community of Columbia, Maryland. Subsequent developments were launched in Baltimore, Reston, and Houston during the 1960s.[6]
In 1970, Ryan noticed a "Maryland" sign with the initial "M" and "A" covered, and shortly thereafter the company changed its legal name to The Ryland Group, Inc. Ryland made its initial public offering in 1971 Ryland had continued its national expansion during the 1970s, and by 1977 had reached the 10,000-home milestone by expanding into Georgia, Pennsylvania and Delaware, while deepening its market penetration in Texas and Virginia.
Ryland acquired Cincinnati, Ohio-based Crest Communities in 1978, a company led by James Ryan's younger brother William Ryan.
