A Two-Year-Old Team of Real Estate Veterans Led by Glenn Gehan Creates Explosive Growth
AUSTIN, Texas --(BUSINESS WIRE)--GFO Home, a builder of new high-end homes founded by real estate veteran Glenn Gehan, launched in Austin, the hottest real estate marketing in the country, in 2018 and has seen explosive growth and success. The company has already expanded to Dallas and Houston.
Mr. Gehan founded GFO Home following the 2016 sale of his legendary 23-year-old company, Dallas-based Gehan Homes, the 11th largest private homebuilder in the United States.
In just two years, privately-held GFO Home became the fastest-growing homebuilder in Austin. Currently building in nine communities in and around the capital city, the company had $100 million in revenue in 2020, its second full year in operation, and is on track for $200 million in 2021.
The new company is already giving back to its communities in a big way, investing a total of $100,000 in Austin nonprofits Mobile Loaves & Fishes, providing permanent housing for homeless people; and Safe Alliance, serving survivors of child abuse, sexual assault, and domestic violence. In Dallas, GFO supports the Dallas Children’s Advocacy Center and Genesis Women’s Shelter.
Mr. Gehan has three decades of experience as a founder and CEO and has built more than 25,000 homes in Texas, Colorado, Arizona, and Florida. GFO Home includes the fifth generation of the Gehan family involved in homebuilding, dating back to Mr. Gehan’s great-grandfather in the 1800s.
The company has earned a reputation among land developers and home buyers for being easy to do business with by streamlining the processes that go into buying land, building, and buying homes. For example, GFO’s typical lot/land approval process takes one day and is binding, compared to months of delay often experienced with other builders.
Home buyers are attracted to GFO Home’s product, which features new modern, architect-designed floor plans created for what buyers want in 2021.
GFO Home houses are the highest quality in every community they’re in, with better designs, elevations, and standard features than their competitors. GFO is selling larger-than-average homesites with an average sales price of more than $800,000.
GFO’s plans have already accelerated. The company expanded to Dallas in early 2021 and is in 11 communities in the DFW Metroplex.
GFO’s first community in Houston, Fulshear Lakes, is currently being developed for GFO by Sam Yager Inc., the premiere master-plan developer in Houston. The Yager and Gehan families have been business partners for more than two decades.
About GFO Home
GFO Home is a new home builder of high-end modern homes in Austin, Dallas, and Houston. The company was founded by Glenn Gehan in 2018 following the sale of Gehan Homes, the 11th largest private homebuilder in the United States. Mr. Gehan and his leadership team have collectively built more than 25,000 homes in two decades. In its first two years, GFO became the fastest-growing homebuilder in Austin and will earn $200 million in revenue in 2021. The company gives back to its communities and is a major donor to local charities in Austin and Dallas.
Contacts
Brenda Thompson
512-461-5644
brenda@brendathompson.com