Wilson: In the past we focused on for-sale housing, but it was typically vertical buildings like high-rise condos. Then, two things happened. First, Michael Brekka joined the firm a couple of years ago. He had worked for McMillin Homes and Shea and has a vast storehouse of knowledge about the single-family arena. Second, we became aware of a smaller infill site available in Chula Vista that was fully entitled and ready to go build nice entry-level, middle-class homes that can sell for a $500,000 price point. Once we rolled up our sleeves, we realized there was a huge pent-up demand and such a limited amount of supply. We will be under construction by the end of October to build 23 of these homes, and it's the first of some other infill opportunities we're looking at. They're hard to come by, so if you're able to get one, you're lucky. We think we'll be delivering these homes in May of next year, and I will be shocked if we don't sell out by the end of next year. The market drivers are there.

GlobeSt.com: Where do you see each of these sectors heading in the future?

Wilson: They both have very similar drivers. In both cases, there is increasing demand. People are aging and living longer due to good healthcare, and the supply side is very constrained. It's difficult to find good sites and get them entitled for both sectors, especially in the entry-level housing sector—there's not a lot of supply and a great deal of demand. Even though the rental market is very robust, there are still a lot of people who would like to own their own home. Not everybody can go to Carmel Valley and pay $1 million for a tract home. One of my kids just got married and is looking to buy one of these new homes we're building. There are less than a handful of projects like this, which is amazing.

GlobeSt.com: What are the challenges to expanding into these areas?

Wilson: The challenges are always people. People are your best resources in any business. Through the years, we have been able to attract really talented, good people. Right now, it's very gratifying to have one of those be in my family. It's gratifying for Nicholas to step up into this role of COO. He joined the firm about three years ago, and before that he was in the extreme-sports industry, working for Red Bull and others. He's done a great job of leading our business, and so has Michele, who joined almost two years ago and has done a tremendous job on all levels. Nich has been warmly embraced in the community, and it's a great thing. Michele is an incredibly capable, talented young lady. We need to find other Nichs and Micheles as we move forward to meet these challenges enthusiastically. Our job as a firm is to provide wonderfully talented young people to assert more responsibility.