The Hottest Apartment Developer in America (Who Builds For 30% Less Than Competitors) with Steven Campisi, Hillpointe (#422)
About this episode
Chris Powers interviews Steven Campisi about Hillpointe's innovative approach to apartment development and cost efficiency.
In this episode, Chris sits down with Steven Campisi, co-founder of Hillpointe, one of the largest developers of attainable housing in the country. Most apartment developers design a brand new building for every project. Hillpointe has built the exact same building 800 times, which creates advantages that compound over time. That repetition plus their material and labor strategy is how Hillpointe builds across the Sun Belt for 30-40% less than everyone else. They get into their direct overseas sourcing business, how they've built their own in-house subcontractor base, how they underwrite new opportunities, the state of the market, and why they run the whole operation as a series of discretionary funds. Timestamps(00:00) Intro(02:58) Steven's Three-Pronged Competitive Advantage(10:29) Prototype Building Strategy(12:39) Direct-to-Crew Labor and Why Crews Choose Hillpointe(20:02) China Sourcing Operations, Scale & Factory Relationships(25:22) Labor Market Shortages & Specialized vs. Generalist Trades(35:01) Land Acquisition Strategy & Regional Development Teams(41:12) Underwriting Deals(44:09) Achieving Investor Alignment(54:45) Fund Model vs. Traditional JV Equity(1:01:25) Raising…
People in this episode
Host: Chris Powers
Guest: Steven Campisi
Topics covered
- apartment development
- affordable housing
- construction strategy
- market analysis
- investment strategies
Keywords
- apartment developer
- affordable housing
- construction costs
- sourcing strategy
- investment funds
Sponsors
True North Advisors
Mentioned in this episode
Organizations: Hillpointe
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