Ryland Homes
| Company type | Public |
|---|---|
| Industry | Residential construction, Financial services |
| Founded | 1967 |
| Founder | James P. Ryan |
| Defunct | October 2015 |
| Fate | Merged with Standard Pacific Homes to form CalAtlantic Homes |
| Headquarters | Westlake Village, California , United States |
Area served | United States |
| Products | Homebuilding, Mortgage loans, Title and escrow services |
The Ryland Group, Inc. operated as a residential construction firm headquartered in Westlake Village, California. By the year 2015, it held the position of the fifth-largest homebuilder within the United States. In October 2015, Ryland combined operations with Standard Pacific Homes, resulting in the establishment of CalAtlantic Homes.
In addition to its core homebuilding activities, Ryland provided financial services such as consumer mortgage loan offerings, along with title and escrow services. Rather than engaging in independent land development, the company generally acquired completed land lots or participated in land development through joint venture arrangements.
History
The enterprise was founded in 1967 by James P. Ryan under the name James P. Ryan Company in Columbia, Maryland, constructing 220 residences in 1968 with an average price point of $30,000. The organization adopted the name The Ryland Group, Inc. in 1970.
Expansion into the Atlanta market occurred in 1971, coinciding with the company’s initial public offering that raised $4.6 million. By 1977, Ryland had reached a milestone of constructing its 10,000th home.
In 1978, Ryland entered mortgage lending by acquiring Crest Communities based in Cincinnati, Ohio, which was led by William Ryan, James Ryan’s brother.
A significant strategic acquisition took place in 1986 when Ryland purchased M.J. Brock and Sons of California for $85 million, making it the first homebuilder to operate on both coasts of the United States. Jim Ryan retired from the company in 1987.
By 1998, Ryland sold a total of 9,430 homes across 252 communities spanning 18 states with an average sale price of $182,000. That year also saw the acquisition of Regency Communities in Tampa and withdrawal from markets such as Portland, Oregon, Salt Lake City, and the Delaware Valley region.
Ryland further extended its footprint in North Carolina by acquiring Timberstone Homes’ operations in Charlotte and Raleigh during July 2012. The following year, it expanded into Philadelphia by purchasing Cornell Homes.
The merger with Standard Pacific Homes in October 2015 led to the formation of CalAtlantic Homes, which was subsequently acquired by Lennar in 2018.
Mortgage service requirements
In 2007, a federal lawsuit filed in Atlanta accused the company of compelling buyers to secure mortgages through its own services or incur additional fees if choosing external providers.
Non-disclosure of land history
In 2011, Ryland agreed to a $1.2 million settlement related to allegations that it did not disclose that 118 residences within the Newport subdivision near Orlando were constructed on or adjacent to the former Pinecastle Jeep bombing range—a factor that impacted property values after live ordnance was discovered.