Builder benefits from niche market of semi-custom homes

LOVELAND — Bridgewater Homes in Loveland offers something not typical for Northern Colorado — affordable home prices with the choice of a custom home.

“We’re trying to bring something to the market that isn’t necessarily there,” said Bill Robinson, co-owner and chief executive officer of Bridgewater Homes, 4090 Clydesdale Parkway, Suite 205. “A lot of people when they buy houses, they have few choices … production or custom. We’ve fit a niche in the middle, semi-custom or production. We can build for middle class families and also have the quality and features people want to upgrade to.”

Bridgewater Homes saw 1,065 percent growth from its first year of business in 2015 when revenues were $2.56 million to $29.90 million in 2017. The homebuilding company, which builds semi-custom, single-family homes on lots in existing developments, started in Loveland and soon expanded to Northern Colorado in Johnstown, Windsor, Greeley and Evans with plans to enter the Cheyenne, Wyo., market later this year.

Currently, the company is building homes in four communities: Winter Farm in Windsor, the Ridge at Harmony Road in Windsor, the Thompson Crossing II in Johnstown, and Timnath Ranch in Timnath. This summer, it will add Saddle Ridge in Cheyenne. In the fall, the company will be building in Raindance in Windsor.

“We make sure our end products are in line with the buyers’ expectations,” said Leslie Moen of Eaton, sales and marketing director and co-founder of the company with Robinson and Benjamin Broccoli, who lives in Loveland.

In its first year, the company had 25 closings, growing to 60 closings last year and an expected 100 closings this year. At any one time, the company is working on 30 to 40 homes.

The homes combine the features of custom homes, where the buyer and builder create the floor plans tailored to the buyer’s needs, with production homes where the builder chooses those plans. Buyers start with preset floor plans they can select and then make changes to the layouts to accommodate their needs.

“We’ve really focused on making sure the product we deliver is high quality,” Moen said. “We make sure the bones of the house are built with the highest levels of standards and that rolls into all of the finishes of the house.”

Once the home is ready for move-in, Moen likes that final step with buyers, she said.

“I love being able to sit at the closing table and be with the buyers who are so excited to move into their brand new home” Moen said. “It’s neat to see buyers who were able to build a home that fits their individual needs and that’s something they are proud to move into because we were actually able to build that for them.”

The company operates with a staff of 17, growing from a staff of the three founders.

“We have a very lean staff,” Moen said. “Everyone is extremely dedicated to what we do. … Being able to work with a great team of people makes it easier to grow and be successful.”

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