Fayetteville-based Developer Shifts Strategy in Smaller Market
Michael Tilley (7 minutes ago | 6 views)
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The leadership team of Kevin Gerit Construction Inc. includes Josiah Marcum, director of custom homes, Blake Roberts, chief operating officer, and owner Matt Gerit.
Kevin Gerlt Construction Inc. is taking a different homebuilding approach in smaller, outlying communities amid the arrival of large national homebuilders. The company’s newest development is a $20 million to $25 million single-family residential addition in Prairie Grove, near Farmington.
Matt Gerlt, owner of Kevin Gerlt Construction, is developing The Reserve at Cannon Hollow, a gated 21-lot custom-home addition northeast of U.S. Highway 62 and Arkansas Highway 170. The 28-acre development is located on Otter Road and what will be Otter Loop.
Gerlt, a second-generation homebuilder from Northwest Arkansas, started the company more than 30 years ago, and he became owner in 2021 after growing up in the business and spending seven years in the insurance industry.
From a development standpoint, the new addition is unique for the company because, with custom construction, clients typically own the land, he said. The new addition will include large homes on large lots. While the company specializes in custom home construction, the starter home market has historically been its primary focus.
With larger companies expanding here, he noted, “it’s created kind of a squeeze there, and they’re going to buy land for more than we would and sell their houses for less than we would.” Homes priced under $300,000 and over $850,000 are all selling, he said, leaving little room for the company’s typical market. Land across Northwest Arkansas is expensive, and prices have risen sharply.