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Smith Douglas Homes announced on Monday that it has acquired the assets of Houston, TX based Devon Street Homes, a top 30 builder in its local market and ranked the 150th largest builder in the country by Builder magazine. In 2022, Devon Street closed 324 homes across 15 communities with revenues exceeding $100 million. It currently controls nearly 1,500 lots in the greater Houston area, and its partnership with Smith Douglas Homes aims to serve even more Houston families with new housing development in the second largest new home market in the United States, Smith Douglas said in a recent press release
“Devon Street Homes offers an ideal strategic and cultural fit within our existing platform, and we’re thrilled that Stephen was looking to partner with another builder at a time when we were looking to expand,” added Greg Bennett, President and CEO of Smith Douglas Homes. “This acquisition provides us with a great foundation from which we’ll look opportunistically at other Texas markets.” New communities will be introduced under the Smith Douglas Homes brand while existing Devon Street Homes communities will be rebranded over time.
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