Construction Today - October/November 2011 - (Page 126)

Residential | PRATT AND ASSOCIATES LLC Small and Strong PRATT AND ASSOCIATES IS REFOCUSING ON ITS HOME MARKET OF CHATTANOOGA, TENN. BY JIM HARRIS Pratt and Associates is the largest homebuilder in Chattanooga, Tenn. « L ike many others, Pratt and Associates LLC, also known as Pratt Home Builders, has gone through the extreme peaks and valleys that go along with being a U.S. homebuilder in the 21st century. “We’re the quintessential homebuilder story, where, when the market was really good in 2004 to 2006, we took on a lot of land and positions outside of our home base, and in 2007 started building houses in five different markets in the (southern United States),” President Win Pratt says. “We learned we weren’t ready to build in five markets, and when the recession hit in 2008 we had to liquidate and get rid of assets. “Ours is the typical builder story of barely getting by on the skin of our teeth, scratching and clawing and doing what we can to keep the company alive.” After learning its lesson about expanding too quickly, the Chattanooga, Tenn.-based company returned to building exclusively within its home market and restructured its business model. Before the recession, Pratt homes had an average $400,000 market value; today, they average at $285,000 while retaining the same level of quality the company became known for during the boom market. “At the time we expanded, we were a luxury homebuilder selling to the top-end of the market,” Pratt says. “We really catered to the sophisticated buyer, which is a much smaller market. We’ve since changed our business model from being a luxury builder to offering the same quality home for a little less.” Pratt and Associates LLC • Revenues: $28 million • Headquarters: Chattanooga, Tenn. • Employees: 25 • Specialty: Residential homebuilding “We just do what we say we’re going to do and call people back.” –Win Pratt, president homes ranging in size from 2,000 to 4,000 square feet. Last fall, the company opened True Custom, its custom homebuilding division, Pratt says. Pratt and his father James founded the company in 1998 to build homes on parcels James Service First Pratt and Associates builds homes in neighborhoods it develops as well as on individual lots it options in other new subdivisions. The company offers buyers 35 different styles of 126 CONSTRUCTION-TODAY.COM OCTOBER/NOVEMBER 2011 http://www.CONSTRUCTION-TODAY.COM

Table of Contents for the Digital Edition of Construction Today - October/November 2011

Construction Today - October/November 2011
Energy Efficiency
Green Building
Executive Perspective
Best Practices
Bernards Construction – El Capitan High School
Bogner Construction Co. – College of Wooster Scot Center
Jean McClung Middle School
Hellas Sports Construction
The Walsh Group – NOAA Pacific Regional Headquarters
Haskell Co. – Scripps Proton Therapy Center
Robert A. Bothman Inc. – Stockton Unified School District
JE Dunn – Energy Systems Integration Facility
Rosendin Electric – AVUHSD Solar Project
Ratcliff Construction Company – Crossroads Church
University of Texas Southwestern Medical Center
Flintco Pacific – Calaveras County Adult Detention Facility
Lee Lewis Construction – Angelo State University’s Plaza Verde Student Housing
Manhattan Construction – First Baptist Church of Dallas
Market & Johnson – Eau Claire County Courthouse project
McTech Corp – 97th Military Police Battalion Headquarters
Parkland Health & Hospital System
RBC Construction
Central Building and Preservation – Randolph Tower City Apartments
Scaparotti Construction Group
Trinity Properties – Trinity Place
Advanced Real Estate Services
Lawrence B. Wohl Inc./Wohl Diversified Services
TN Ward and Commercial Interiors – Maryland Live
ASX Construction – Parc Lafayette
Bayland Buildings Inc.
Dependable Mechanical Systems
New Dawn Developments
DSLD Homes
Aquilini Development and Construction Inc.
Cobalt Construction – Meta Housing
Lifestyle Communities
Pratt and Associates LLC
Miramonte Homes
MP J.J. Duffy Joint Venture/Pathway Senior Living LLC – Victory Centre Vernon Hills
Woodland Homes
Aecom/Inima Joint Venture – Hialeah, Fla., Water Treatment Plant
MWH Constructors – Austin Water Treatment Plant No. 4
Pepper-Lawson Construction – Missouri City Surface Water Treatment Plant
MWH Constructors – AWT Improvements
Blount Contracting Inc.
Harbor Offshore Services
Cruz Construction Inc.
Humble Construction
Nova-Con Projects Ltd.
Trimen Electric
EllisDon Corp. – Atlantic Region
EllisDon Corp. – St. Joseph's Regional Mental Health Care
Focus Equities
Intercom Services Immobiliers
George Brown College – New Waterfront Campus
Seaside Transportation Services
Last Look

Construction Today - October/November 2011