Exterior of Arcadia Communities’ Valencia model at Citrus Square. (Courtesy of Camelot Homes)
By Mike Beirne | Pro Builder
One of Camelot Homes’ strategic challenges has been to find opportunities to diversify its business. For 50 years, the third-generation family-owned and -operated builder in Scottsdale, Ariz., has occupied a high-end luxury market niche by appealing to buyers who don’t want the hassle of a custom build yet want to personalize their home beyond what production builders in the area typically offer or allow. Camelot Homes has successfully attracted and catered to this buyer segment, as reflected in the builder’s high customer-satisfaction rankings from surveys by Eliant Experience Management.
But even the high-end market can soften. To hedge, Camelot started building detached homes on infill lots as small as an acre to rent under a new brand, Arcadia Communities. The first 12 rental homes, featuring a backyard and a garage, were built in 2020 in Phoenix and were rented within 30 days after completion. Managing director Julie Hancock talks more about Camelot’s growth plans for build to rent and other ways the company, a 2021 National Housing Quality Bronze Awardwinner, is diversifying its revenue stream.