Art Falcone Launches AmeriCraft Homes Amidst Market Downturn

Art Falcone, a real estate developer with over 40 years of experience, launched a new homebuilding company named AmeriCraft Homes this week. This launch occurs during a market downturn, a strategy Falcone has employed throughout his career, stating, "When things are not good, that's when I like to be going into a business and restarting." He has consistently followed this contrarian approach in various sectors, including fast food and hospitality, for the past 45 years.

AmeriCraft Homes was founded as Encore Capital Management began to reduce its homebuilding activities. Instead of terminating his team, Falcone offered his employees positions at AmeriCraft Homes, dedicating the past year to preparing for the new company's debut. Falcone is recognized for developing significant projects such as Miami WorldCenter, Margaritaville Resort Orlando, and Encore Resort at Reunion. His prior homebuilding success includes the sale of Transeastern Properties and its associated land company for $1.6 billion in 2005.

The new venture, AmeriCraft Homes, aims to integrate Falcone's expertise in hospitality and resort development into residential communities. The company's objective is to offer a resort-style living experience, which Falcone believes addresses an unmet demand in the market. Mark Bines, president of AmeriCraft Homes, commented on Falcone's track record, stating, "Art’s been a trendsetter, a placemaker for so many years in his career, and that’s really what the path is for us as a company."