A new strategic business plan, presented to investors on Wednesday in New York City, calls for new business models, operational efficiencies and levering its brand into ancillary businesses. "This plan is a substantial change in the way the company conducts business," says LeRoy Hanneman, Del Webb president/CEO. "Del Webb is unquestionably the leader in the most attractive segment of the housing industry. We did not win or sustain this position by resting comfortably upon the cushion of one good idea."

Historically, Del Webb has built huge communities with thousands of homes, exclusively for people aged 55 and older. Hanneman says that his company will continue to add to its 17 large-scale Sun City and other active-adult communities, while expanding on its newer, already popular multi-generational, country club community concept.

With the first of 76 million boomers entering the company's 55 plus target market next year, the firm is now considering new business models for communities that appeal to the mindset of a grown-up hippie generation, which vastly differs from that of current Del Webb-community homeowners. Concepts under consideration include: smaller active-adult communities, ranging form 1,000 to 3,000 acres; communities with greater emphasis on country club amenities, new "specialty" multi-generational communities with amenities that appeal to boomers still raising families, and master-planned communities that offer lots to selected homebuilders or joint-venture partners.