STOCK TITAN

Tri Pointe Homes Unveils Alterra, Newcastle’s Latest 62-Home Community With Models Designed by Bobby Berk

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags

Tri Pointe Homes (NYSE: TPH) is launching Alterra, a new 62-home community in Newcastle, Washington. The development features five- to six-bedroom homes starting from the $2 millions. Two model homes, designed by Emmy award-winning TV host Bobby Berk, will be open for tours from September 21.

Alterra offers homes up to 4,200 square feet with access to the Newcastle Trail System and proximity to tech hubs in Bellevue, Redmond, and Kirkland. The community is part of a larger collaboration between Tri Pointe Homes and Bobby Berk, offering homebuyers curated design collections and style options.

With an interest list of nearly 600 potential residents, Alterra is positioned as a highly desirable development in the Puget Sound area, combining luxury living with natural surroundings and convenient amenities.

Tri Pointe Homes (NYSE: TPH) sta lanciando Alterra, una nuova comunità di 62 abitazioni a Newcastle, Washington. Lo sviluppo presenta case con cinque o sei camere da letto a partire da 2 milioni di dollari. Due modelli di abitazione, progettati dall'ospite televisivo premiato con un Emmy Bobby Berk, saranno aperti per visite a partire dal 21 settembre.

Alterra offre abitazioni fino a 4.200 piedi quadrati con accesso al Newcastle Trail System e vicinanza ai centri tecnologici di Bellevue, Redmond e Kirkland. La comunità fa parte di una collaborazione più ampia tra Tri Pointe Homes e Bobby Berk, offrendo ai potenziali acquirenti collezioni di design curate e opzioni di stile.

Con una lista d'interesse di quasi 600 potenziali residenti, Alterra si posiziona come uno sviluppo molto desiderabile nell'area di Puget Sound, combinando vita di lusso con un ambiente naturale e servizi convenienti.

Tri Pointe Homes (NYSE: TPH) está lanzando Alterra, una nueva comunidad de 62 viviendas en Newcastle, Washington. El desarrollo cuenta con casas de cinco a seis habitaciones que comienzan desde 2 millones de dólares. Dos casas modelo, diseñadas por el presentador de televisión ganador del premio Emmy Bobby Berk, estarán abiertas para visitas a partir del 21 de septiembre.

Alterra ofrece viviendas de hasta 4,200 pies cuadrados con acceso al Newcastle Trail System y cerca de centros tecnológicos en Bellevue, Redmond y Kirkland. La comunidad es parte de una colaboración más amplia entre Tri Pointe Homes y Bobby Berk, ofreciendo a los compradores de vivienda colecciones de diseño curadas y opciones de estilo.

Con una lista de interés de casi 600 posibles residentes, Alterra se posiciona como un desarrollo muy deseable en el área de Puget Sound, combinando un estilo de vida lujoso con un entorno natural y comodidades convenientes.

Tri Pointe Homes (NYSE: TPH)는 워싱턴주 뉴캐슬에 Alterra라는 새로운 62채 주택 커뮤니티를 런칭합니다. 이 개발은 5~6개 침실이 있는 주택200만 달러부터 제공합니다. 에미상을 수상한 TV 진행자 Bobby Berk가 디자인한 두 개의 모델 하우스가 9월 21일부터 투어를 제공합니다.

Alterra는 4,200 평방피트까지의 주택을 제공하며, Newcastle Trail System에 접근할 수 있고, 벨뷰, 레드몬드, 커클랜드의 기술 중심지와 가까운 위치에 있습니다. 이 커뮤니티는 Tri Pointe Homes와 Bobby Berk 간의 더 큰 협력의 일환으로, 주택 구매자들에게 큐레이션된 디자인 컬렉션과 스타일 옵션을 제공합니다.

거의 600명의 잠재 거주자로부터 관심 목록이 있는 Alterra는 푸젯 사운드 지역에서 매우 매력적인 개발로 자리 잡고 있으며, 럭셔리한 생활과 자연 환경 및 편리한 편의 시설을 결합하고 있습니다.

Tri Pointe Homes (NYSE: TPH) lance Alterra, une nouvelle communauté de 62 maisons à Newcastle, dans l'État de Washington. Le développement propose des maisons de cinq à six chambres à partir de 2 millions de dollars. Deux maisons modèles, conçues par l'animateur de télévision primé aux Emmy Bobby Berk, seront ouvertes aux visites à partir du 21 septembre.

Alterra propose des maisons allant jusqu'à 4 200 pieds carrés avec accès au Newcastle Trail System et à proximité des centres technologiques à Bellevue, Redmond et Kirkland. La communauté fait partie d'une plus large collaboration entre Tri Pointe Homes et Bobby Berk, offrant aux acheteurs de maison des collections de design personnalisées et des options de style.

Avec une liste d'intérêt de près de 600 résidents potentiels, Alterra se positionne comme un développement très recherché dans la région de Puget Sound, alliant vie de luxe, nature environnante et commodités pratiques.

Tri Pointe Homes (NYSE: TPH) startet Alterra, eine neue Gemeinschaft mit 62 Häusern in Newcastle, Washington. Die Entwicklung bietet Fünf- bis Sechs-Zimmer-Häuser, die ab 2 Millionen Dollar beginnen. Zwei Musterhäuser, entworfen von dem Emmy-prämierten TV-Moderator Bobby Berk, werden ab dem 21. September für Besichtigungen geöffnet sein.

Alterra bietet Häuser mit bis zu 4.200 Quadratfuß und Zugang zum Newcastle Trail System sowie die Nähe zu Technologiestandorten in Bellevue, Redmond und Kirkland. Die Gemeinschaft ist Teil einer größeren Zusammenarbeit zwischen Tri Pointe Homes und Bobby Berk, die den Hauskäufern kuratierte Designkollektionen und Stiloptionen bietet.

Mit einer Interessentenliste von nahezu 600 potenziellen Bewohnern positioniert sich Alterra als eine äußerst begehrte Entwicklung in der Puget Sound-Region, die luxuriöses Wohnen mit natürlicher Umgebung und praktischen Annehmlichkeiten kombiniert.

Positive
  • Launch of a new 62-home luxury community in a prime location
  • Collaboration with celebrity designer Bobby Berk, potentially increasing appeal and value
  • High interest from potential buyers with nearly 600 on the interest list
  • Homes offering up to 4,200 square feet with 5-6 bedrooms, catering to high-end market
  • Strategic location near tech hubs and outdoor amenities, likely to attract affluent buyers
Negative
  • High starting price point of $2 million may limit the potential buyer pool
  • Dependence on continued strength in the luxury housing market

Insights

The launch of Alterra, a 62-home luxury community in Newcastle, Washington, by Tri Pointe Homes (NYSE: TPH) is a strategic move in the high-end real estate market. With homes starting from $2 million, this development targets affluent buyers in the tech-rich Eastside area. The collaboration with celebrity designer Bobby Berk adds a premium touch, potentially enhancing the appeal and perceived value of these properties.

However, the timing of this launch is crucial. With interest rates at elevated levels and concerns about a potential economic slowdown, the luxury housing market could face challenges. The success of Alterra will depend on the resilience of high-income buyers and the continued strength of the tech sector in the Seattle area. The pre-launch interest list of 600 potential residents is promising, but conversion to actual sales will be the true test of market demand.

Investors should monitor sales velocity and pricing trends at Alterra as indicators of Tri Pointe Homes' performance in the luxury segment and the overall health of the high-end real estate market in tech-centric regions.

Tri Pointe Homes' Alterra development in Newcastle is a bold bet on the continued demand for luxury housing in Seattle's Eastside. The project's key strengths lie in its location and amenities. Proximity to tech hubs like Bellevue and Redmond, coupled with access to nature trails and golf courses, aligns well with the preferences of high-earning tech professionals.

The home designs, featuring up to 4,200 square feet with 5-6 bedrooms, cater to the needs of larger families or those desiring spacious work-from-home setups. The Bobby Berk-designed interiors add a unique selling point, potentially justifying the premium pricing.

However, the $2 million+ price point narrows the buyer pool significantly. In a market sensitive to interest rate fluctuations, these homes may face longer selling cycles. The project's success will hinge on Tri Pointe's ability to differentiate Alterra from other luxury offerings and maintain pricing power in a potentially softening market.

While the launch of Alterra is noteworthy, its direct impact on Tri Pointe Homes' (NYSE: TPH) financials may be in the short term. With 62 homes priced from $2 million, the potential revenue from this project could range from $124 million to $200 million or more, depending on final pricing and sales success.

However, this represents a small fraction of Tri Pointe's annual revenue, which was $4.3 billion in 2022. The project's true value lies in its potential to enhance TPH's brand in the luxury market and improve overall margins. Luxury homes typically offer higher profit margins, which could positively impact TPH's bottom line if Alterra proves successful.

Investors should focus on the project's sell-through rate and any changes in TPH's overall gross margin in upcoming quarterly reports as indicators of Alterra's performance and its impact on the company's financial health.

Alterra to offer five- to six-bedroom homes on the Eastside starting from the $2 millions

NEWCASTLE, Wash.--(BUSINESS WIRE)-- Eastside homebuyers will soon have the opportunity to purchase their dream home at Alterra, a 62-home neighborhood located in Newcastle, Wash., from Tri Pointe Homes, Inc. (NYSE: TPH), one of the nation’s largest homebuilders. Two model homes with interiors designed and merchandized by Emmy award-winning TV host and design expert Bobby Berk are slated to open for tours starting Sept. 21.

Exterior of model home at Alterra. Photo credit: ImageArts Productions / Tri Pointe Homes

Exterior of model home at Alterra. Photo credit: ImageArts Productions / Tri Pointe Homes

Alterra is set to be one of the area’s most coveted communities due to its prime location in the highlands of Newcastle, superb access to nature, and elegant design. Alterra residents are expected to have direct access to the expansive Newcastle Trail System, which connects to 35 miles of hiking trails in the Cougar Mountain Regional Wildlife area. Newcastle offers easy access to tech hubs in Bellevue, Redmond and Kirkland, and is a smooth commute to and from Seattle. Alterra’s home designs boast up to 4,200 square feet and feature swoon-worthy kitchens, ample space to entertain, and covered outdoor living areas suitable for the Pacific Northwest. Each home is expected to feature five to six bedrooms, three to five baths, and two-bay garages. Prices are anticipated to start in the $2 millions, and the community is located at 13736 SE 85th Street, Newcastle, Washington.

Two model homes that will be available for viewing at Alterra come from the brilliant interior design mind of Berk, who first became known for his work transforming lives and living spaces on Netflix’s Queer Eye and has since established himself as a preeminent leader in the design industry. Berk took inspiration from the beauty of the Pacific Northwest when designing these model homes, which are expected to include the following design styles:

  • Classic Transitional: Marries the timeless elegance of traditional aesthetics with the clean lines and simplicity of contemporary décor.
  • Contemporary Woodland Retreat: Where mid-century elegance converges with a palette inspired by coastal hues. Features clean lines, natural textures, and dusty blue and green accents.

Alterra is part of a larger collaboration between Tri Pointe Homes and Bobby Berk, which allows homebuyers to engage with the two brands in various ways. First, they take the Style Finder to determine their personal Bobby Berk x Tri Pointe Homes style. Then, they can select finishes from the 10 exclusive collections curated by Bobby Berk for Tri Pointe Homes, that correspond with that style. Finally, they can even purchase furniture in their selected Bobby Berk x Tri Pointe Homes style.

“I was truly inspired by the gorgeous surroundings at Alterra, which translated into designs for the model homes that I feel create serenity and a sense of peace,” said Berk. “I can’t wait for people to experience my designs as part of their homebuying journey – I hope they consider purchasing a Tri Pointe home so they can gain access to the wonderful design resources available through our collaboration.”

This is the third Tri Pointe Homes community in the Puget Sound area to feature Berk’s designs – previously, the designer collaborated on homes in Kirkland, as well as Glacier Pointe at Tehaleh, where homes are currently selling.

“We’re proud to once again employ the talents of Bobby Berk to work on one of our new home communities,” said Ken Krivanec, Division President of Tri Pointe Homes Washington. “We currently have an interest list of almost 600 potential residents and could not be more thrilled at the excitement that is building around this community.”

At Alterra, golfers can enjoy easy access to The Golf Club at Newcastle which boasts over 350 acres of championship level golfing. Newcastle Elementary School is a short walk away from Alterra homes, making pick-ups and drop offs a breeze.

For more information or to preview Tri Pointe Homes’ new model homes at Alterra, please visit https://www.tripointehomes.com/alterra

About Tri Pointe Homes®

One of the largest homebuilders in the U.S., Tri Pointe Homes, Inc. (NYSE: TPH) is a publicly traded company operating in 12 states and the District of Columbia, and is a recognized leader in customer experience, innovative design, and environmentally responsible business practices. The company builds premium homes and communities with deep ties to the communities it serves— some for as long as a century. Tri Pointe Homes combines the financial resources, technology platforms and proven leadership of a national organization with the regional insights, longstanding community connections and agility of empowered local teams. Tri Pointe has won multiple Builder of the Year awards, was named to the 2024 Fortune World’s Most Admired Companies™ list, is one of the 2023 Fortune 100 Best Companies to Work For® and was designated as one of the 2023 PEOPLE Companies That Care®. The company was also named as a Great Place To Work-Certified™ company for four years in a row (2021 through 2024), and was named on several Great Place To Work® Best Workplaces lists in 2022 and 2023. Building upon the legacy that was established more than 50 years ago under the name Quadrant Homes®, Tri Pointe Homes is an award-winning leader in the Washington real estate sector. For more information, please visit TriPointeHomes.com.

About Bobby Berk

Bobby Berk is an Emmy-winning design expert, TV host and author. He rose to prominence in 2018 for his work transforming lives and living spaces on Netflix’s Queer Eye, and has since established himself as a preeminent leader in the design industry. Bobby leads his eponymous multi-faceted brand, including comprehensive lifestyle destination BobbyBerk.com, while his design firm has become one of the most sought after in the home building industry. Most recently, Bobby released his first book, Right at Home: How Good Design Is Good For The Mind, available now.

May Wildman, C+C for Tri Pointe Homes

mwildman@cplusc.com 702.301.8496

Source: Tri Pointe Homes

FAQ

What is the price range for homes in Tri Pointe Homes' Alterra community (TPH)?

Homes in Tri Pointe Homes' Alterra community are anticipated to start from the $2 millions.

How many homes will be available in Tri Pointe Homes' Alterra development (TPH)?

Tri Pointe Homes' Alterra development will feature 62 homes in Newcastle, Washington.

When will the model homes at Tri Pointe Homes' Alterra community (TPH) be open for tours?

The model homes at Tri Pointe Homes' Alterra community are slated to open for tours starting September 21.

Who designed the interiors of the model homes at Tri Pointe Homes' Alterra (TPH)?

The interiors of the model homes at Tri Pointe Homes' Alterra were designed by Emmy award-winning TV host and design expert Bobby Berk.

What is the size range of homes in Tri Pointe Homes' Alterra community (TPH)?

Homes in Tri Pointe Homes' Alterra community boast up to 4,200 square feet and feature five to six bedrooms.

Tri Pointe Homes, Inc.

NYSE:TPH

TPH Rankings

TPH Latest News

TPH Stock Data

3.45B
91.33M
2.42%
99.96%
2.89%
Residential Construction
Operative Builders
Link
United States of America
INCLINE VILLAGE