Magazine ranks Gemcraft as No. 1 Md.-based builder

Real Estate Watch

October 31, 1999

Gemcraft Homes of Forest Hill was listed as the 24th-fastest-growing builder in the nation -- and the top Maryland-based company -- in the National Association of Home Builders' September issue of Builder magazine.

According to Builder, Gemcraft's 1998 revenue of $31.3 million was a 213 percent increase from 1996. Gemcraft built 182 homes in 1998, up 208 percent.

Bill Luther, Gemcraft's president, attributed the growth of the 6-year-old company to the acquisition of a line of townhouses after the demise of Keystone Builders and the expansion of its single-family home line, which has grown to 35 floor plans from five in recent years.

"We've been able to get into a variety of different neighborhoods building homes from $120,000 to $400,000," Luther said. "I think we'll be ranked in next year's list also."

Two other Maryland-based builders also landed spots in Builder's top 75. Baltimore's Questar Properties came in at 50th and Crow ell & Baker Associates of Rockville ranked 72nd.

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