May 17, 2013

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Article

Woodside Homes Wins Phoenix Award

Press Release

May 17, 2013

North Salt Lake — Woodside Homes has received the Phoenix Award from BUILDER, a residential construction media brand, during the Housing Leadership Conference in Scottsdale, Arizona.

The company was recognized for its struggles through the housing recession and its successful comeback as one of the nation’s largest builders.

Woodside Homes, based in North Salt Lake, Utah, began a chapter 11 reorganization in September 2008, and in 14 months emerged with $315 million in restructured debt and $200 million in cash. Woodside streamlined its operations, sold divisions to significantly reduce debt, simplified its position in the move-up home market, was recapitalized by its investors, and bought lots in less competitive areas near job centers. Today, the company builds in California, Las Vegas, Phoenix, Salt Lake City, and San Antonio.

“Woodside has gained market share and is operating profitably in every one of our divisions,” said Joel Shine, CEO of Woodside. “We are honored that BUILDER has chosen to recognize Woodside's success with the Phoenix Award.”

“Woodside Homes is well positioned for future growth,” said Jean Dimeo, editor-in-chief of BUILDER. “It’s now well capitalized and continues to snatch up land opportunities that other builders aren’t pursuing.” The BUILDER 100 and Next 100 lists are featured in the May 2013 issue of BUILDER magazine and on builderonline.com.

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