We have a long-standing history of growth in some of the best performing U.S. markets, marked by characteristics that include growing employment in high wage sectors of the economy, higher cost of home ownership, and a diverse and vibrant quality of life. These include long-established markets in the Northeast, Mid-Atlantic, Pacific Northwest, Northern and Southern California as well as newer, expansion markets such as Denver, Southeast Florida, Charlotte and Raleigh/Durham, NC, and Dallas and Austin, TX. Our in-house market research team, guided by proprietary models, identifies the best submarkets for growth. Often challenging conventional wisdom, data-driven insights guide us to smart, targeted growth.
We have created four distinct apartment community brands based on a deep knowledge of our customers and what they are looking for in an apartment living experience. Our offerings – Avalon, AVA, eaves by Avalon and Kanso – allow us to address different needs of the renter market, penetrate our core markets more deeply to reach new customers, and better serve existing residents.
Our decentralized, fully integrated development and construction platform has been integral to our success and a leading generator of value since our founding as a public company. We understand what it takes to bring sites through the entitlements process while minimizing risk along the way. And since development is a local business, we staff regional offices in each market with a team of professionals in development, construction, and residential services. We choose to act as our own general contractor in most cases, allowing us to further control costs and quality while ensuring that the communities we develop are built to last. In addition to developing new communities, redeveloping current communities has proven an effective way to improve our competitive position, reshape our portfolio and create value. Our redevelopment teams keep our communities fresh and help implement our brand framework. We also grow through acquisitions of existing assets, particularly at select points in the cycle when values are more compelling.
Our culture is grounded in our core values of a commitment to integrity, a spirit of caring, and a focus on continuous improvement. Our decentralized development and operating structure depend on a culture of collaboration and responsibility that balances regional autonomy with centralized support and capabilities located in our Arlington, VA headquarters. Regions can continuously improve execution by drawing on strategic capabilities that include market research, customer insight, design, and capital management.