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Colorado Companies to Watch: Simple Homes

Denver

ColoradoBiz Staff //July 9, 2024//

Colorado Companies to Watch: Simple Homes

Denver

ColoradoBiz Staff //July 9, 2024//

Simple Homes designs, manufactures and assembles prefabricated homes and residential structures and will deliver nearly 1,000 new housing units across Colorado this year. More than 30% of the units Simply Homes delivers are deeded affordable housing.

“We are proving that it is possible to build a sustainable and profitable business in the prefab construction space while delivering exceptional value in terms of time savings, cost competitiveness and quality,” CEO Jeffrey Hopfenbeck said.

Simple Homes is focused on gaining market share this year as more builders discover its unique manufacturing solution. The company’s goal is to deliver 4,000 homes per year by the end of the decade.

One of its pivotal moments came when it won a $17 million contract for 250 build-for-rent townhomes — its largest job ever.

“This contract showed the market that we could handle very large projects and deliver them successfully and faster than anyone else in the market,” Hopfenbeck said.

Like most homebuilders, Simple Homes was challenged by lumber prices that reached peaks in 2021 and 2022. Because it enters fixed-price contracts with its customers, it was left exposed, and the business nearly failed as a result.

“This experience led us to focus on financial discipline and caused us to invest heavily in its finance function,” Hopfenbeck said. “Since then, our finance function has become one of our greatest internal strengths and key to our profitability.”