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The company was founded by Larry A. Mizel as Mizel Development Corporation in 1972. [3] The first homebuilding subsidiary began operation in 1977, primarily building single-family homes. [4]
In 1972, Mizel founded the Mizel Development Corporation, which became M.D.C. Holdings, Inc. (MDC), a New York Stock Exchange-listed homebuilding company. [5] MDC is the parent company of Richmond American Homes, [6] which has homebuilding operations in 15 U.S. states. [6]
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Meritage Homes was founded in 1985 as Monterey Homes in Scottsdale, Arizona, by Steve Hilton and William "Bill" Cleverly. [8] In 1997, the company changed its name to Meritage Homes Corp, and began trading on the New York Stock Exchange under the symbol MTH. [8] In 2011, the company unveiled its first net-zero energy homes, in Buckeye, Arizona. [9]
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