Builder Straight Talk Podcast
James Wrigg did not take the most direct route into homebuilding. Years studying theology and time in a seminary eventually gave way to a career in residential construction, and the servant leadership philosophy he carried from that period still shapes how he runs things today. "I really approach things saying I want to make something better for my consumer. I want to make my employees better. I want to meet them where they are and take them to where they can be." Bridge Tower targets what James calls the move-up renter, someone past the apartment stage but not yet ready to buy. Average resident age is around 39, and average tenancy runs about three and a half years, more than double a typical apartment complex. James walks through how BTR projects get funded, how capital stacks work, and why the model demands very different thinking from production homebuilding. The conversation shifts to risk, which is where things get genuinely useful. Go/no-go decisions, what kills a deal early, and what it looks like to walk away cleanly rather than putting a bad project on life support. "You have got to quickly get used to killing your what you thought was going to be. You just can't get your heart attached too quickly when it's early in the process. You've got to be willing to say no. Quit trying to beat your head against this wall. Don't put it on life support, just kill it." Value engineering, the real kind versus the cost-stripping version, comes up too. So does the risk management philosophy James picked up from the Bridge Tower partners. "No one thing should ever be in a position to sink you. You never want that type of exposure in one position. How do we build and scale a business while always protecting the heart of it?" Westfield Homes grew from the need to balance out the peaks and valleys of BTR production and expand how Bridge Tower can use land. The brand launched through a JV with Hanin Properties out of Osaka, placing Westfield on model row alongside Highland Homes, Perry Homes, American Legend, and Bloomfield. The episode also covers developing young talent, builder-to-builder relationships, and whether a rent-to-own model can realistically address the affordability gap. On that last one, James gives a straight answer. --- James Wrigg is the SVP of Operations for Bridge Tower Homes and Westfield Homes, with over two decades in residential construction. His background spans production homebuilding and build-to-rent, including a stretch managing a division at Perry Homes before joining Bridge Tower. Since coming on board, he has scaled the build-to-rent platform to 400-500 homes per year, with 620 closings projected for 2027, while bringing hard cost per square foot down 28% over three years. He also led the launch of Westfield Homes, Bridge Tower's for-sale brand, building the entire operation from the ground up including product, land strategy, sales platform, and warranty program. His background is not what you would expect. James holds a bachelor's degree in Theology with a minor in Philosophy and a graduate certificate in Systematic Theology. He built his first home at 18 under his uncle's guidance, and has been working in the industry in some capacity ever since. James Wrigg on LinkedIn: https://www.linkedin.com/in/james-wrigg-a4632359 [https://www.linkedin.com/in/james-wrigg-a4632359] Bridge Tower website: https://bridgetowergp.com [https://bridgetowergp.com] Chapters: 00:00 Introduction 00:24 Sound Capital 00:41 Go, No-Go Mindset 03:02 Meet James Rigg 06:21 Seminary to Homebuilding 13:05 Coaching Young Talent 18:08 BridgeTower Origin Story 20:53 Built to Rent Explained 26:22 Resident Experience and Tenure 29:33 Entering BTR and Capital Stack 36:08 Deal Sourcing Criteria 38:05 Vertical Integration Pipeline 38:48 Land Competition Strategy 40:59 No-Go Decision Framework 45:23 Builder Networking Culture 47:45 Real Value Engineering 49:41 Rent to Own Reality 53:24 Westfield Build to Sell 01:01:10 Capital Stack And JV 01:02:36 Rapid Fire and Closing
62 episodios
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