Developing Real Opportunities
The Jones Company | Franklin, Tennessee
As a renowned residential home builder delivering value to the Nashville market since 1995, The Jones Company has taken yet another major step forward building more than 400 homes just this year. Their mission is simple: build innovative, well-designed, solidly constructed homes in communities that represent the best overall value in the market.
For The Jones Company’s Chief Executive Officer Ken Stricker, the relationship with Commerce Bank is long-standing and meaningful. “The Jones Company has been doing business with Commerce Bank for 30 years,” Ken explains. “I also use Commerce for my personal banking needs. I was writing a check recently and saw my account was opened in 1987! I can’t speak highly enough of Commerce Bank.”
Ken points to Commerce’s consistency as key to the long-term banking partnership. When other banks exited the home building industry during prior economic downturns, Ken says Commerce Bank was always there for us. “We do large projects, so we need a bank we can rely on,” Ken shares. “Commerce Bank understands our business.”
The Jones Company happily works with Commerce Bank to continue financing new projects, including its upcoming Norman Lake development in Hendersonville, TN. “Norman Lake is going to be a dynamite project. With a couple of projects up there, we’ll have about 350 lots under development in Sumner County.” Nearly 40 miles away from Norman Lake is The Jones Company’s luxury development in Franklin, TN known as Terra Vista. More than 90 lots in Terra Vista will feature larger homes with impressive customization and in an ideal location. “I called Commerce and they were quick to approve the project,” Ken says. “We put it under contract, did our due diligence and closed really quick. Commerce had to jump in and get it appraised, and we closed in about 40 days. Not many banks could have closed that quickly.”
When Commerce Bank commits to financing a real estate development, they’re in it for the duration. This lays the groundwork for The Jones Company to have peace of mind that financing is stable for the duration of the project. “That was true in 2008,” Ken comments, speaking to the economic downturn. “The market was very difficult. The entire industry was in a deep recession. But Commerce Bank believed in us and knew we had to keep building houses.”
With support from Commerce Bank, The Jones Company has been able to develop several of Nashville’s finest communities. “We have happy customers,” Ken shares. “At the end of the day, if there’s an issue with one of our buyers we err on the side of the customer. Bob Jones, our founder, instilled that philosophy in our company from the beginning. We’re always trying to do the right thing and building a great home for your family to live.”
“I truly value our partnership with Commerce Bank,” Ken adds. “They are more than just our banker. They are my friends. They are good people and they are fun to be around. Any time I can refer Commerce Bank to someone I do so without reservation. I am their biggest fan!”
From their first project in Nashville in 1995, The Jones Company and Commerce Bank have worked together to build new homes for thousands of families. They now look forward to a future of continued growth and success.