Chairman and Chief Executive Officer
UNC Chapel Hill grad William Allen, the Chairman, began his real estate development career in 1971 and has a highly successful track record, having led the development of over 100 single-family communities over the past 42 years, transforming tens of thousands of acres of undeveloped land into completed residential home sites.
In 1994, Mr. Allen formed Waterfront Communities, Inc. to support the development of custom-home communities on prime waterfront property throughout the Southeast.
Most of the developments involved industry leading infrastructure and amenities, including manmade lakes, marinas, club houses and many other features to add inherent value to home sites.
Under his leadership, the company has identified, located, developed, and marketed 42 large scale communities in the southeastern United States, making the group one of the most successful single family waterfront development companies in the nation since 1994.
His family group of companies have raised hundreds of millions of dollars from high net worth investors and lenders seeking attractive investment returns.
Since the real estate recession Mr. Allen has focused on investing in distressed real estate opportunities, including bank-owned single-family housing lots, distressed single-family homes for resale and prime undeveloped waterfront land in Florida and Texas with unique longer term development prospects.
His group's activity during the past few years has included over $67 million invested in the
acquisition of:
- Over 2,000 acres of prime coastal property in three transactions in Texas and Florida.
- Developed lots from bank-owned inventory.
- Single family homes for rehab and sale.
See Projects section for development details.