The National Association of Home Builders (NAHB) named Traditions of America (TOA) the 2016 Builder of the Year, as part of the Best of 55+ Housing Awards. The annual awards program, held during the International Builders’ Show in Las Vegas, honors excellence and innovation in the design, development, lifestyle and marketing of housing that appeals to the mature market.
“Traditions of America exemplifies the pioneering spirit of builders who persevered during the housing downturn and emerged stronger than ever,” said Dennis Cunningham, chairman, Best of 55+ Housing Awards and president of ActiveWest Builders in Coeur d’Alene, Idaho.
TOA, based in Radnor, Penn., builds 55+ communities that appeal to people who want an active lifestyle. After surviving the Great Recession, TOA is more than double its size from 2006. In the last three years, TOA has grown by virtually every measure, including:
- Communities in planning (800%)
- Communities under development (40%)
- Home sales closed (86%)
- Revenue (93%)
- Profit (45%)
- Employees (80%)
TOA attributes its success in part to innovative buyer programs, such as HomeFree, which makes it easier for buyers to sell their current homes. This concierge resale management program with a home sale contingency helps calm buyers’ fears about selling their existing homes at full market value. TOA is also a leader in the Home Equity Conversion Mortgage (HECM) Program, as more than 30% of TOA buyers who finance their purchase use HECM.
TOA also offers a state-of-the-art design studio that allows buyers to select every item for their new home on the site. Designers work with buyers to make appropriate selections, reducing buyer remorse and increasing satisfaction.
The Best of 55+ Housing Awards program is sponsored by AARP, Barton Partners, BSB Design, Builders Design, Ideal Living, KTGY Group, Professional Builder and Progress Lighting.
In addition to Builder of the Year, there were 85 other Gold and Silver award winners and five entries honored with awards for innovation. View the complete list of this year’s winners at 55+ Best of Housing Award Finalists. Images of winners and finalists are available upon request.