Last night was the Dallas Business Journal’s Middle Market 50 awards and we are beyond thrilled to announce that we are the #1 fastest growing middle market company in the Dallas/Fort Worth area. Shaddock Homes has been working hard to deliver dream homes with superior craftsmanship to all of our homebuyers. Check out this article for more information on the Middle Market 50 and our growth.
The Dallas Business Journal also did a wonderful write up on Peter H. Shaddock which you can find below:
For 50 years, Plano-based Shaddock Homes has specialized in building custom, luxury homes in the Dallas-Fort Worth area. The key to the company’s longevity and growth, CEO Peter Shaddock said, has been building the most beautiful houses. “Quite frankly, we’re better than our competition,” he said. “We have better looking stuff.”
Since 2015, Shaddock Homes has grown its headcount by eight, to 54 employees. Far more impressive is the company’s revenue growth: $89 million in 2015, $126 million in 2016, and a whopping $277 million last year. The company has a strong reputation in the North Texas homebuilding industry, said Ted Wilson, principal of Dallas-based Residential Strategies, which analyzes the Dallas-Fort Worth residential market. “Shaddock Homes is a great story,” Wilson said. “They build a really high-quality house and they’re very active throughout Dallas-Fort Worth.” “The work ethic in that family is unbelievable,” he added. “They know how to make a deal. They have kind of a folksiness about them, but they’re very smart, very shrewd.”
Shaddock Homes faces growing competition in the market, Peter Shaddock said. “What’s happened is the Dallas Metroplex has been so successful that a lot of competition has moved into the area,” he said. “Lots of competition creates shortages in labor supply and higher labor prices because everybody needs (workers). Lot prices rise. Material shortages also cause everything to go up. Mortgage rates are going up, so it squeezes your buyer into buying less house.” To combat some of the problems, Shaddock is building slightly smaller homes to keep the price down, he said. Tradition and homeowner satisfaction in the higher-priced home market, and the focus on building north of Interstate 635, differentiates Shaddock Homes, he said. The company offers a variety of innovative home designs and constantly tries to provide exterior and interior craftsmanship that distinguish it from other Dallas homebuilders, he added.
“Our houses are supposed to appeal to not the average guy, but the average abnormal guy,” Shaddock said. “Somebody who has a good income, like doctors. A lot of people build south of LBJ. We build north of LBJ.” Attention to detail, creativity and the ability to understand homeowners’ needs allows the company to create functional, open floor plans, Shaddock said. The homes accommodate today’s most requested features, including clean-lined design, energy efficient materials and private baths for every bedroom in the house. The family home-building company has the characteristics of a smaller builder with the financial strength of a national homebuilding company, Shaddock said. Shaddock Homes builds in some of the most desired locations and highly regarded school districts, Shaddock said. The company’s communities are located in Carrollton, Celina, Dallas, Frisco, Lewisville, McKinney, Parker, Plano, St. Paul and Wylie.
Bill Hethcock – Staff Writer
Dallas Business Journal