Byron Development, LLC is a residential lot developer located in Greensboro, NC.
It acquires undeveloped land, takes the property through an exhaustive Due Diligence process, feasibility and viability determinations, an entitlement process, to ultimately deliver finished townhouses or single-family lots that are then sold to third-party builders. Byron’s portfolio of finished lots have been purchased by the following builder types:
• National Builders – 75%
• Regional Builders – 15%
• Local Tract Builders – 5%
• Custom-Spec Builders – 5%
Byron currently works with 6 of the Top 10 Builders in the nation, 4 of the Top 10 Regional Builders, and with several custom builders that are some of the most respected builders in the Triad.
The company was officially created on February 3, 2014, with the intent to become the principal residential development entity for 7 CCC, LLC a diverse investment entity owned 100% by Herbert B. Parks. Since inception, 7 CCC, LLC and Patrick J. Donnelly were the Member-Managers of the company and in 2021, Byron added Chad Hill as an additional Member.
Since Byron’s creation, it has become one of the largest Residential Lot Developers in North Carolina, having developed or is currently developing 29 subdivisions, totaling over 3,125 residential lots, all of which are in or around the surrounding jurisdictions of the Triad. The current subdivisions lot values upon completion will total approximately $167,000,000, with the finished homes by third party builders totaling over $795,000,000 in value. Since 2014, Byron Development will have helped create more than a combined $1,275,000,000 increase in the tax base for the various jurisdictions involved.
In the traditional sense, Byron does not have competitors. The company has adapted a philosophy that it will not knowingly bid against other Developers or Builders to avoid higher lot prices for the builder, and ultimately that savings gets passed along to the consumer.
Byron has a self-imposed limitation of a 1-hour radius from its Corporate Office as to where it will develop. The close proximity allows for more intense inspection by its staff of the development process, resulting in ultimately a better product.
Byron’s larger development sites, 30-foot-high remote accessible video security cameras are installed. The access codes to the cameras are then given to the builders, contractors, engineers, and lenders that are involved in their specific project. This access allows quicker assessments and status updates, as well for security. The cameras systems can literally zoom in so close that numbers on a license plate or facial details can be seen. As an added informational and marketing tool, Byron provides a monthly drone aerials of each of its sites under development.
An important note: while a project is under development and even into the “Selling Phase” of the Builder, Byron does not charge HOA’s a management fee.
For the Builder that need to change previously approved elevations, Byron keeps the Declarant rights on its subdivisions until the Builder has finished and sold its last house in a subdivision.