Landsea to move HQ from California to Dallas

Another California-based company is moving to the Lone Star State.

Landsea Homes, which has projects across the Sunbelt, will move its headquarters from Newport Beach to Dallas, the Dallas Morning News reported. It was not reported when the move will occur. 

The homebuilder’s headquarters will occupy 7,700 square feet on the 10th floor at 1717 McKinney Avenue in Dallas’ Uptown district. 

Texas’ highly educated workforce and lower cost of living were among reasons Landsea CEO John Ho gave for the move. It’s in the best interest of the company’s shareholders, he said.

Since going public in 2021, Landsea has developed a slew of projects across the nation. It acquired Vintage Estate Homes for almost $55 million later that year, paving the way for a greater presence in Texas and Florida. It also bought Orlando-based Hanover Family Builders for $179 million in 2022. In addition, it purchased 900 lots at a development site in the growing community of Kyle, about 20 miles south of Austin. 

Landsea has yet to build in North Texas, but Ho has his eyes set on Dallas as well as Houston, the outlet reported. The company has shifted its approach to building more affordable homes in recent years, after focusing mainly on luxury. 

“Now you think about what is going on in the housing market with mortgage rates, and how high those have risen, it’s more important now than ever that we’re building affordable and attainable products for our customers,” Ho told the outlet.

Landsea is one of the many companies to move its headquarters to Texas since the pandemic. Elon Musk relocated Tesla from Silicon Valley to Austin in 2021, although he’s since walked that back. 

As for Dallas, companies like CBRE and ExteNet have transitioned to the area from California and Chicago. 

—Quinn Donoghue