CEO:Keith Bass
Web:www.wcicommunities.com
Status:Private
Activity
Closings: 2012360
Revenue: 2012$243 (in millions)
Detached for sale272
Attached for sale49
Condos for sale31
Other for sale8
Regions:South
WCI sets the standard for building exceptional communities, creating amenities that challenge and exhilarate, while upholding their unwavering commitment to the places they call home. WCI has developed master-planned communities where today there are over 150,000 residents who enjoy amenity-rich lifestyles. WCI is fully committed to maintain and enhance this trust and will demand the highest quality construction and customer service to ensure The Experience Is Everything® for our valued customers.
The ultimate lifestyle experiences await customer  at WCI communities throughout Florida. From the beachfront to the lakeside to the fairways, their  vast selection of primary, vacation and retirement homes encompass a broad spectrum of tastes, including single-family and multi-family homes choices that range from the mid-$100,000s to just under $1 million. Our world-class amenities include championship golf, tennis, marinas, beaches, dining, spa and fitness facilities, resort hotels, parks, nature trails, theaters, business centers and more.
Adding further complement is WCI's integrated portfolio of real estate and residential services in Florida, including finance, title, architecture and interior design, which allow homebuyers and residents alike to easily satisfy their homebuying needs with a single and efficient source. Their strategic partners include some of the most recognized names in the world, including multi-national hotel chains, Audubon International, Wells Fargo and well-known golf and tennis professionals.
WCI Communities, Inc., offers amenity-rich lifestyle communities throughout Florida. WCI turns the most striking landscapes into luxuriously appointed communities with unrivaled golf, boating, beach and club amenities. WCI offers its residents one-stop shopping with mortgage, title, customer care and warranty, plus Prudential Florida Realty to assist customers  in selling their  home.
With WCI, The Experience Is Everything®.
WCI Communities, Inc. is an American home builder. The company offers single family and condominium homes. WCI also provides design, construction, financing, land purchases, marketing, and community management services. The company operates realty, mortgage, and title businesses. WCI is based in Bonita Springs, Florida and develops new home communities in Florida. WCI also manages clubhouses, golf courses, restaurants, and marinas in some of the communities it develops.
History
WCI was founded in 1995 as WCI Communities Inc, purchased from Westinghouse Communities, Inc., retaining WCI initials in their new name. In 2002, WCI Communities, Inc. issued an Initial Public Offering and became a publicly traded company on the New York Stock Exchange, trading under the symbol: WCI. WCI's current Chief Executive Officer and President is Keith Bass. WCI reorganized and emerged as a new privately held company on September 3, 2009.
Heated Housing Market
WCI specialized in luxury and second homes and had solid growth since its founding reaching a height of $2.6B in sales and $186M in profit in 2005. They were sharply affected by the 2005 real estate downturn. Several factors contributed to their need to reorganize. First, a significant portion of their business was in high rise towers. Once construction is started on high rise towers, it is difficult to cease construction and thereby control cost. Second, WCI speculated on large land purchases, carrying large debt on land that was subsequently devalued. Third, their regular (non-tower) communities had large unsold inventories that were also devalued during the downturn.Eventually, the debt was too large to carry with their operating revenues and they filed for Chapter 11.