Ivory Homes

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Ivory Homes LLC
Partnership
IndustryHome Building
FoundedSalt Lake, Utah (1964 (1964))
FounderEllis Reed Ivory
Headquarters
978 Woodoak Lane, Salt Lake City, UT
,
United States
Key people
Clark Ivory
(CEO)
Ellis Reed Ivory
(Founder)
RevenueIncrease US$490  million (2018)
Number of employees
240 (As of December 2018)[1]
Websitewww.ivoryhomes.com

Ivory Homes is the largest homebuilder in the state of Utah, based both on building units and total revenue.[2] Ellis Ivory, the founder of Ivory Homes, created a homebuilding business unique in its ability to adapt to changing conditions and meet customers’ evolving needs. Currently Clark Ivory owns and manages the company. By the end of 2018, Ivory Homes will have completed over 20,000 homes in the state of Utah. According to Builder magazine, Ivory Homes was the 60th largest homebuilder in the nation in 2017. [3]

History[edit]

Early Years[edit]

Ivory & Company was the predecessor to Ivory Homes. In the early 1970s Ivory & Company began developing lots and eventually became one of the largest land developers in the state of Utah, doing roughly 18-20% of all lot development in the state, or about 2,000 lots a year. As the market struggled in the late seventies/ early eighties, Ivory & Company had to find a way to turn the lots they owned. Eventually it was decided that building homes themselves on the lots they owned would be the best way to better the company’s situation. 1983 was the first year Ivory & Company began to build, they built 30 homes.

Ivory Homes Creation and Development[edit]

In 1988 Ivory & Company became Ivory Homes, a name much better suited for the business. Since then Ivory Homes has dominated the home building industry in Utah, holding the position of Utah’s number one homebuilder for 31 consecutive years.[4]

In 1994 Clark Ivory began the process of buying the company from his father Ellis. By 2000 Ellis had fully retired and Clark had complete responsibility for the company. Clark still heads the company as CEO accompanied by Ryan Tesch (CFO), Chris Gamvroulas (Ivory Development), and four area managers, John Cahoon, Eric Freebairn, David Zollinger, and Jair Almaraz. Today the Ivory team consists of approximately 170 employees and 70 sales consultants.

The company experienced huge growth in the years of the housing boom, maintaining their position as the largest homebuilder in Utah.[5] Since then Clark Ivory has carefully managed the business and maintained the company's position as Utah's number one homebuilder. Ivory Homes has maintained a customer satisfaction rating of 90% over the last 20 years.

Map of Ivory Homes Communities

Ivory Homes has experimented with many sorts of new ‘green technologies’, and in 2011 reported all of their homes as being energy star certified.[6] Since then Ivory has created their own rating system for green certification which goes further in requiring innovation and attention to being green.In 2018, Ivory committed to plant 30,000 trees within 10 years in the state of Utah as a way to give back to the community and give priority to the health of our planet.[7][8]

In the past decade Ivory Homes has introduced many new sales and marketing techniques to help people move into new homes who otherwise couldn’t because of credit issues. They began a program called the Ivory Financial Fitness program.[9] This helps people overcome their credit issues, and get loans in order to buy a new house. By partnering with AAA Fair Credit Foundation they are able to help people build up their credit scores before applying for a loan, so that they qualify and buy an Ivory Home. This program has worked well for them.[2] Ivory Homes also has been offering a three-year lease guarantee to home owners, so that buyers can have three years to sell their existing home. [10]

Starting in 2017, the state of Utah started to face the economic issue of limited housing affordability and a significant housing gap. [11] During this time, Ivory Homes took initiative in finding ways to confront these issues. Ivory Homes initiated a program called Ivory Innovations, which encouraged the community with competitions and prizes to come up with innovative ideas on making housing more affordable.[12]

Ivory Homes is currently celebrating their 31st consecutive year as being Utah's number one homebuilder.

Controversy[edit]

In December 2013, the Applewood Park mobile home complex announced rent increases for their property totaling 44 percent over a six-month period. Applewood Park was purchased in 2011 by a company affiliated with Ivory Homes, ICO Multifamily Holdings. Residents, suspect the rent increases are designed to force them to abandon their homes and allow ICO to replace the neighborhood with a 186-unit apartment complex.[13]

In 2018, Ivory Homes partnered with Woodbury Corporation in proposing a project for the vacant land of the former Cottonwood Mall Site. This proposal was an updated mixed-use project with single-family homes, business buildings, commercial use, and apartments. [14] The project was approved by the Holladay City Council,[15] but later challenged and disputed by a group of local residents.[16] The proposal was then brought to Utah’s Supreme Court and placed on the residential mid-term election ballot. The residents voted against the project and the decision was ultimately made by the Supreme Court to rule in opposition to the proposal. [17]

References[edit]

  1. ^ "Ivory Homes". Data.com. Retrieved 2011-10-19.
  2. ^ a b "No Upturn in sight, Utah home builders get inventive". Salt Lake Tribune. Retrieved 2011-10-19.
  3. ^ "2017 Builder 100". builderonline.com. Retrieved November 29, 2018.
  4. ^ "Ivory Homes Celebrates 28 Years as Utah's Number One Homebuilder". WebWire. Retrieved 23 April 2013.
  5. ^ Snow, Laura. "U of U Trustees Announce 2011 Honorary Degree Recipients". University of Utah. Retrieved 28 November 2011.
  6. ^ "Ivory Green". Ivory Homes. Retrieved 28 November 2011.
  7. ^ "Ivory Homes Launches 30,000 Tree Initiative". Salt Lake Chamber. Retrieved 29 November 2018.
  8. ^ "Ivory Green". Ivory Homes. Retrieved 29 November 2018.
  9. ^ "Ivory Financial Fitness". Ivory Homes. Retrieved 29 November 2018.
  10. ^ "3 Year Lease Guarantee". Ivory Homes. Retrieved 29 November 2018.
  11. ^ "What Rapidly Rising Prices Mean for Housing Affordability" (PDF). Kem C. Gardner Policy Institute. Retrieved 29 November 2018.
  12. ^ "Ivory Homes Spearheading $200,000 contest". BuilderOnline. Retrieved December 1, 2018.
  13. ^ "Seniors: Ivory Homes affiliate is squeezing us out". Salt Lake Tribune. Retrieved 2012-01-14.
  14. ^ "Holladay Quarter Project". Holladay Quarter. Retrieved 29 November 2018.
  15. ^ "Revised Plan Unanimous Approval". Holladay City Journal. Retrieved 29 November 2018.
  16. ^ "Holladay Residents Hope to Block Cottonwood Mall development". Deseret News. Retrieved November 29, 2018.
  17. ^ "Utah Supreme Court: Residents' vote to block development at old Cottonwood Mall stands". Deseret News. Retrieved November 29, 2018.

External links[edit]