Toll Brothers and GTIS Partners acquire Sienna South
In a joint venture with private equity firm GTIS Partners, Toll Brothers has announced its plans to acquire Sienna South, the last major undeveloped parcel of Houston master-planned community Sienna Plantation.
"We are thrilled to be joining with GTIS and Johnson Development to bring Sienna South to the Houston market," said Karl Mistry, Houston division president at Toll Brothers. "With Houston’s well-publicized shortage of available home sites in premier master-planned communities, we believe the project’s timing, Sienna Plantation’s stellar reputation, our experienced management team, excellent location, amenities and highly rated schools will attract home builders and home buyers across the price point spectrum."
The 3,700-acre Sienna South is situated in the southwest corridor of Houston and is fully zoned for up to 10,000 single-family homes, as well as 140 acres of retail and commercial use and 63 acres of civic use. Toll Brothers expects to develop 6,500 single-family lots and sell them to various home builders over the years; up to 1,750 of those lots may go to Toll Brothers’ own home-building operation.
"The Houston housing market has been one of the most dynamic and resilient housing markets in the country, fueled by strong fundamental employment and economic growth," said Rob Vahradian, senior managing director at GTIS.
Sienna Plantation will be connected to Houston’s Inner Loop 610 upon the completion of the Fort Bend County Parkway extension early this year. This will situate Sienna South at an approximate 30-minute commute to downtown Houston, with easy access to Sugar Land Town Square, the Texas Medical Center complex and the Houston Energy Corridor.
Toll Brothers and GTIS expect Sienna South to eventually realize gross home sales of more than $2.6 billion.
Billy Teaford named Klein Tools’ 2013 Electrician of the Year
Klein Tools has named its 2013 Electrician of the Year: Billy Teaford, a Southeast region finalist from Fincastle, Va., was the winning ballot out of more than 140 entries.
Teaford will receive $5,000 in prizes — half in Klein tools and half in cash — as well as an ultimate Klein garage package that includes a 41-piece tool kit, mini-refrigerator, golf bag, bar stools, can insulators, beverage opener tools and peg board.
“Billy demonstrates a passion for electrical safety and professionalism in addition to his charitable work,” said Mark Klein, VP domestic sales at Klein Tools. “His enthusiasm is contagious and has gained the respect and following of his co-workers and neighbors alike.”
Teaford has worked as an electrician at Roanoke Cement for 40 years and has had the same lock-out tag for just as long, as well as an ongoing stretch of zero lost-time accidents.
“No matter what employee it is, they always say, ‘Thank you for letting me work with Billy,’ ” said Dan Babish, Roanoke Cement technical manager. “Billy takes the time to teach them about why they are doing something, how to do it properly and why they are doing it this way to help the shift employees down the road… he takes the time to train the next generation of electricians.”
Teaford also received a nod from Captain Kenneth Argot of the Roanoke Salvation Army, who acknowledged his service to the organization and his initiation of the annual bike drive.
Meet MHLDA’s Lumber Person of the Year, Rich Protsko
Back in November, the Mid-Hudson Lumber Dealers Association honored their 2013 Lumber Person of the Year, Rich Protsko.
At the West Hills Country Club in Middletown, N.Y., MHLDA director Tim Erchick presented the award to Protsko at the 2013 Annual Meeting Nov. 1.
Protsko, who currently works for American Lumber Co. and serves as ex-officio on the MHLDA board of directors, has been in the lumber and building materials industry since he graduated high school. He got a job with a hardwood company from Holland (H&L Lumber), where he learned to operate the kilns, as well as grading, surfacing and machine maintenance.
After serving with the Air National Guard as an optician, he rejoined the industry via a job with Hallock Lumber, unloading rail cars, driving forklifts and handling lumber. Wishing to better his lot, he attended the NAWLA School of Lumber to earn his lumberman credentials.
His career has included stints at Mid-State Lumber, Wiener Crowley & St. John and American Lumber Co. He was also simultaneously involved with the military, retiring from the Air National Guard after 22 years as a master sargent in 2002.
“Everywhere I worked I had a blast and continue to do so,” he told the MHLDA. “It is the people in this industry who make it that way. It’s not always sunny and bright, but no job is. Somehow it always comes down to having fun.”