Ivory Homes
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| Company type | Partnership |
|---|---|
| Industry | Home Building |
| Founded | Salt Lake, Utah (1964) |
| Founder | Ellis Reed Ivory |
| Headquarters | Salt Lake City, UT , United States |
Key people | Clark Ivory (CEO) Ellis Reed Ivory (Founder) |
| Revenue |  US$490 million (2018) |
Number of employees | 240 (As of December 2018)[1] |
| Website | www |
Ivory Homes is an American housing construction company, active mainly in Utah.[2] In 2017 it was in 60th place on a list of such companies by size in the United States.[3]
History[edit]
Ellis Clark Ivory ventured into the real estate business, despite initially avoiding it due to his father Clark's challenges in the industry. In 1964, Ellis married Katie Stohl and embarked on a real estate career. This ultimately led to the creation of Ivory Real Estate and the successful development of Bloomington in St. George. In 1968, Terracor was established to expand their ventures, but Ellis resigned in 1970 due to financial concerns.
In 1971, Ellis founded Ivory and Company, focusing on land brokerage and residential development. Almost immediately, the company saw remarkable success in Utah's thriving real estate market. The 1980s brought financial challenges, prompting the company to enter the home building industry. By 1989, Ivory Homes was officially established. The company evolved into a family-run business with Ellis's sons, Clark and Joe, taking on pivotal roles within the company.
Clark and Christine Foundation[edit]
The Clark and Christine Ivory Foundation is a philanthropic organization with a multifaceted approach that includes improving access to education, facilitating the creation of affordable housing, and fostering the development of sustainable communities.[citation needed]
Applewood Park[edit]
In December 2013, the Applewood Park mobile home complex announced rent increases for their property totaling 44 percent over a six-month period. Applewood Park was purchased in 2011 by a company affiliated with Ivory Homes, ICO Multifamily Holdings. Residents, suspect the rent increases are designed to force them to abandon their homes and allow ICO to replace the neighborhood with a 186-unit apartment complex.[4]
In 2018, Ivory Homes partnered with Woodbury Corporation in proposing a project for the vacant former Cottonwood Mall Site. This proposal was a mixed-use project with high-rise apartments, single-family homes, and, commercial use [5] It was approved by the Holladay City Council,[6] but later challenged by a group of local residents because of its high density.[7] The proposal was placed on the residential mid-term election ballot; the residents voted against the project and the Supreme Court ultimately ruled in opposition to the proposal.[8]
References[edit]
- ^ "Ivory Homes". Data.com. Retrieved 2011-10-19.
- ^ "No Upturn in sight, Utah home builders get inventive". Salt Lake Tribune. Retrieved 2011-10-19.
- ^ "2017 Builder 100". builderonline.com. Retrieved November 29, 2018.
- ^ "Seniors: Ivory Homes affiliate is squeezing us out". Salt Lake Tribune. Retrieved 2012-01-14.
- ^ "Holladay Quarter Project". Holladay Quarter. Retrieved 29 November 2018.
- ^ "Revised Plan Unanimous Approval". Holladay City Journal. Retrieved 29 November 2018.
- ^ "Holladay Residents Hope to Block Cottonwood Mall development". Deseret News. Retrieved November 29, 2018.
- ^ "Utah Supreme Court: Residents' vote to block development at old Cottonwood Mall stands". Deseret News. Retrieved November 29, 2018.