Revamped UDC Homes Sets Sights on O.C.

Expect UDC Homes to become a much bigger home building player in Orange County. The bankrupt Phoenix-based home builder, which had not grown much here or garnered many awards for its work in recent years, has undergone an extensive make-over since being acquired in 1995 by real estate developer DMB Associates.

UDC officials say they now want to become one of Orange County’s top 10 builders. To achieve this ambitious goal UDC will have to build more than 600 units a year, triple what it built last year in all of Southern California, according to William Rattazzi, former CEO of Dale Poe Development Corp., who was hired recently to head UDC’s SoCal division in Corona. Rattazzi replaces division manager Tim McGinnis who left to form his own building company.

The company has been beefing up its staff and rethinking its marketing and design strategy here. For instance, now it plans to build a wider range, from homes for the first-time buyer to pricey estates on the coast. The company also plans to move the division office out of Corona to a more high-profile location.

To accommodate its development goals, UDC also has been pursuing a lot of land deals. It just acquired land for 95 new homes north of Orangethorpe Avenue in Placentia, which should open for sale this September. It also has been negotiating to purchase land for a 400-home development in Mission Viejo and property in Ventura County.

The home builder can now afford to buy property with its backing from its deep-pocketed parent. DMB made a separate investment here recently when it agreed to back a joint venture with Santa Margarita Co. for the proposed 4,000-acre Ladera community in South Orange County.

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Melinda Fulmer covers real estate for The Times. She can be reached at (714) 966-7832.