San Diego Division
Under the direction of Division President Larry Smith, 2000 was a year of
exceptional growth in our San Diego Division. On a combined basis with our
unconsolidated joint ventures, we delivered 709 new homes, up 42% from 1999,
and increased revenue 24%, to $199 million.
Headquartered in San Diego, with a satellite office in Riverside, the Division's
area of operation includes San Diego and a portion of Riverside and San
Bernardino counties. We currently are selling in 10 communities and rank
seventh among San Diego homebuilders in total sales. We are proud of the
numerous awards for product design, marketing and merchandising that the
Division has won over the years.
This Division has extensive experience in land development, which enables
us to pursue unique and diversified opportunities. In addition, our strategy
to participate in high profile master-planned communities has enabled us
to respond quickly to opportunities.
In 2001, this Division's strategic goal is to focus primarily on developing
product priced under $450,000 in San Diego and under $250,000 in Riverside
county. Currently, the Division has in escrow a number of new projects in
highly desirable communities throughout San Diego and Riverside counties.
As in the past, we will continue to develop homes and communities that offer
value as a key selling feature, while keeping customer satisfaction and
Division profitability as top priorities.
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La Fuente at Rancho Dorado, Plan 3, in San Marcos,
CA; San Diego Division Staff.
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Bella Veranda, Plan 3, and Glenleigh Gardens,
Plan 1, both at Summerlin, in Las Vegas, NV.
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Dear
Lyon Stockholder
