Landsea Homes Corporation (Nasdaq: LSEA) announced it is moving its headquarters from Newport Beach to Dallas.
Chief Executive Officer John Ho said Texas has a lower cost of living, and the relocation will also bring “access to a highly educated workforce, which [is] critical as we continue to build our corporate team.”
The homebuilder currently operates out of 660 Newport Center Drive; it’s unclear how the move will impact its local base. The company has about 100 local employees.
“As a national publicly traded homebuilder with communities from California to Florida, this is a strategic move in the best interests of our shareholders,” Ho said. “In addition to our overall coast-to-coast growth strategy, we are very focused on growing our homebuilding footprint in Texas, and this move demonstrates our strong commitment to the state.”
The company is currently building communities in Arizona, Florida, Texas and throughout California in Silicon Valley, Los Angeles and Orange County.
Shares are up 0.2% to $6.74 and a $276 million market cap.