Our Evergreen® business, Roundhouse, develops and operates multi-family housing in four Western states. Historically, ours has been an extremely commoditized, financially driven industry. The goal for most developers in our space is to either provide a high volume of low-cost housing or—largely in coastal cities— high margin luxury developments. In both scenarios, most pursue short-term business plans that involve quickly selling projects upon completion in order to extract the highest-possible time-weighted return for investors.

We sit between the production developers and the luxury developers, focused on the middle market. We develop communities for residents who want a high-quality living experience. In our view this means a beautifully designed, healthy, environmentally sensitive environment that functionally improves their lives. Our approach to how we develop and manage our properties makes us an outlier in an industry built to serve investors first and residents second.