The approach
Every handoff a developer usually makes is one we do not.
Most residential development is assembled from parts. A land company entitles a site and sells it to a builder, who hires a general contractor, who hires the trades. Every handoff is a place for cost and schedule to leak.
What one company holds
- 01
Acquire and entitle
Site selection, feasibility, zoning and platting. Nothing is bought that cannot be built, because the people underwriting the site are the people who will have to build on it.
Land and entitlement - 02
Design
Product designed against the buyer the market actually has, rather than against a plan book. Size, bedroom count and garage follow from what a household earning a working wage can carry.
Design - 03
Build
The general contractor is the sponsor's own construction arm, working under a design build contract and an AIA guaranteed maximum price contract. That contract is the mechanism that holds cost where the underwriting put it.
General contracting - 04
Sell and hand over
Sales, closing and the finish and punch process that decides whether a buyer is happy on the day they get the keys. The same team that framed the house walks it with them.
Sales and delivery
The contract that holds the cost
The general contractor on every community is the sponsor’s own construction arm, working under a design build contract and an AIA guaranteed maximum price contract.
A guaranteed maximum price is the mechanism that keeps a development budget honest. Above the number, the contractor carries the overrun. Where the contractor is a third party that is a negotiation. Where the contractor is the sponsor it is the same balance sheet on both sides of the line, which is the point.
Who runs it
Three Rigneys, and fifty years behind them.
Dan Rigney
Principal Managing Member
More than forty-five years in real estate and development, and responsible over his career for the development and sale of more than 1,800 single family homes in California and Southern Nevada.
As a senior officer at a national multifamily syndication and investment firm he oversaw development across the portfolio between 1998 and 2012. From 2014 to 2018 he built and ran a Texas construction firm that delivered nine projects and just over nine hundred units.
Jamie Rigney
Managing Member, Operations
Responsible for the day-to-day management of operations, including building completion and unit turnover and the field and office personnel working in those areas. She serves as a project manager with direct responsibility for on-site supervision of the finish and punch process across every development.
In the 1980s she held Rigney Development's real estate broker's licence and ran the firm's marketing and sales programmes and its home buyer turnover programme. She holds an MA in Education Administration from California State University Northridge.
Jonathan Rigney
Development
The third generation of Rigneys in residential development. He has served as a field-based project manager and completed a rehabilitation project for a housing authority in the Rio Grande Valley.
Away from field operations he works as an analyst on project modelling and guides upcoming developments through planning and entitlement. He holds both an undergraduate and a master's degree in Real Estate Development from Arizona State University's W. P. Carey School of Business.