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Southern Land hires Tony Marchbanks to lead homebuilding expansion
The appointment comes as Southern Land expands into four master-planned communities totaling 5,000 lots, with Marchbanks set to oversee construction, purchasing, sales and architecture.
Southern Land Company has hired Tony Marchbanks as national president of homebuilding, tasking him with spearheading single-family home development with a focus on Tennessee, Texas and Colorado, according to Commercial Observer.
Marchbanks brings 30 years of real estate experience and most recently served as chief operating officer for Highland Homes, where he helped drive production of about 1,000 homes per year in the Houston market, Southern Land said.
In interviews with Commercial Observer, Marchbanks pointed to higher interest rates and weak job growth as headwinds that weigh on consumer confidence, while arguing the current environment creates an opportunity for Southern Land because it has expansion plans, particularly into Texas.
Southern Land is currently developing four master-planned communities across 5,000 individual lots, and Marchbanks will oversee construction, purchasing, sales and architecture for those neighborhoods.
The company has also been adding to its residential platform, including launching a mortgage lending division in May to support its sales division and construction pipeline, Commercial Observer reported, while continuing to build multifamily projects in Las Vegas, Erie, Colorado and just outside Austin, Texas.