The Willard Companies

What The Willard Companies does

The Willard Companies is a privately held, family-owned real estate development and property management company founded in 1973 by Ronald L. Willard Sr. and headquartered in Hardy, Virginia. Operating as an umbrella organization, the company develops, owns, and manages residential communities, commercial real estate, and real estate brokerage services at Smith Mountain Lake, with a footprint spanning approximately 3,500 developed acres and 35 miles of shoreline across properties including Bridgewater Grande, The Boardwalk, The Farm, South Harbour, and historically The Waterfront and The Water's Edge country club communities. The company's core revenue streams derive from one-time residential lot sales (supported by its wholly owned Berkshire Hathaway HomeServices Smith Mountain Lake Real Estate brokerage franchise, established 1987), recurring commercial leasing at Westlake Towne Center (a 140-acre shopping center with anchor tenants including Kroger and Carilion Wellness), and construction services through subsidiary Willard Construction of Roanoke Valley, Inc. The enterprise also owns and operates Westlake Cinema, a 13,800-square-foot four-plex movie theater within the Westlake Towne Center complex.

The company executes a sales-led go-to-market targeting retirees, second-home buyers, and primary residence purchasers seeking lakefront lifestyle properties in the Smith Mountain Lake resort area, alongside commercial leasing of retail, office, and professional space at Westlake Towne Center and the proposed Southlake Towne Center in Union Hall. Distribution combines direct sales, the Berkshire Hathaway HomeServices agent network for national and international buyer reach, and event-based marketing tied to community and country club activities. In December 2020, the company executed a strategic refocus by divesting its three country club communities (The Waterfront, The Water's Edge, and The Westlake) to McConnell Golf and The Waterfront Management LLC, removing high-operational-intensity recurring assets and enabling founder Ronald L. Willard Sr. to transition toward semi-retirement while his son Ronald L. Willard II assumed operational leadership. The November 2023 groundbreaking of Bridgewater Grande, a new waterfront community with pickleball courts, pool and pavilion, gated entrance, and boat storage, signals continued investment in the residential development pipeline under the next-generation leadership.

Name

The Willard Companies

Legal name

The Willard Companies, Inc.

Website

https://thewillardcompanies.com

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

51–100 employees

Short description

The Willard Companies is a privately held, family-owned real estate developer and property manager founded in 1973 at Smith Mountain Lake, Virginia, operating residential communities, commercial leasing (Westlake Towne Center), construction services, and a Berkshire Hathaway HomeServices brokerage franchise, serving retirees, second-home buyers, and commercial tenants.

Ownership category

akta.pro rank

Product category

Real Estate Development

NAICS

Offices of Real Estate Agents and Brokers (53121), Real Estate Property Managers (53131), Other Activities Related to Real Estate (531390), Management of Companies and Enterprises (55111)

SIC

Real Estate Agents & Managers (For Others) (6531), General Bldg Contractors - Residential Bldgs (1520), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)

akta.pro secondary industry

New Construction & Builder Sales (BPAJAAAB)

Keywords

• Real estate development
• Residential communities
• Commercial leasing
• Construction services
• Property management

Headquarters

HQ city

Hardy

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Sales: Sale of residential home sites and properties through Berkshire Hathaway HomeServices Smith Mountain Lake Real Estate, including new development at Bridgewater Grande and existing communities like The Boardwalk, The Farm, and South Harbour.
2. Commercial Leasing: Leasing of retail, office, and commercial space at Westlake Towne Center (140-acre shopping center) and Westlake Professional Park. Anchor tenants include Kroger, Carilion Wellness, and various medical, legal, and financial service providers.
3. Country Club Operations (Historical): Previously operated three country club communities (The Waterfront, The Water's Edge, The Westlake) including golf courses, clubhouses, restaurants, fitness centers, tennis/pickleball courts, pools, and equestrian facilities. Sold in December 2020.
4. Building Supply (Historical): Owned and operated Smith Mountain Building Supply from 2000-2018 to serve local builders and contractors.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

The Willard Companies is a real estate development, construction, and property management firm operating as an umbrella organization for residential community development (most recently Bridgewater Grande), commercial retail and office leasing (Westlake Towne Center, Southlake Towne Center), real estate brokerage (Berkshire Hathaway HomeServices Smith Mountain Lake Real Estate), construction services (Willard Construction of Roanoke Valley, Inc.), and a four-plex movie theater (Westlake Cinema) in the Smith Mountain Lake region of Virginia.

Product overview

The Willard Companies operates as an umbrella organization for real estate development, construction, commercial property management, and property services at Smith Mountain Lake. The portfolio includes multiple residential communities (Bridgewater Grande, The Waterfront, The Water's Edge, The Boardwalk, The Farm, South Harbour), commercial developments (Westlake Towne Center, Southlake Towne Center), real estate brokerage services (Berkshire Hathaway HomeServices Smith Mountain Lake Real Estate), construction services (Willard Construction of Roanoke Valley, Inc.), entertainment (Westlake Cinema), and golf courses (The Westlake Golf & Country Club). The company recently launched Bridgewater Grande as its newest waterfront development in November 2023, while previously operating and subsequently selling its country club communities.

Differentiator

Problem solved

Functional benefit

Products and services

• Bridgewater Grande Waterfront residential community at Smith Mountain Lake offering quality home sites for purchase, with amenities including pickleball courts, swimming pool and pavilion, gated entrance, street lights, and a boat storage area. Targeted at buyers seeking an active lake lifestyle.
• Westlake Towne Center 140-acre commercial shopping and retail destination at Smith Mountain Lake with anchor tenants including Kroger, Carilion Wellness, Westlake Library, and Westlake Cinema, plus Westlake Professional Park and Office Complex for medical, legal, and financial services tenants.
• Westlake Cinema 13,800-square-foot four-plex movie theater featuring stadium seating, games and concessions, equipped with Dolby Digital Surround and USL Infrared Hearing System; movie tickets available for purchase online or at the ticket booth.
• Berkshire Hathaway HomeServices Smith Mountain Lake Real Estate Real estate brokerage franchise within the Berkshire Hathaway HomeServices network, offering comprehensive homeownership services through innovative technology, marketing, and key business initiatives; consistently leads market share for premier Smith Mountain Lake properties.
• Willard Construction of Roanoke Valley, Inc. Construction company under The Willard Companies umbrella providing construction, planning, development, and marketing services for residential and commercial projects in the Smith Mountain Lake region.
• Southlake Towne Center Proposed 90-acre commercial development in Union Hall, Virginia, planned as a designated Village Center to serve the south side of Smith Mountain Lake, available for commercial leasing upon build-out.

Quantifiable outcome

• Smith Mountain Lake attracted visitors from across the country to enjoy golf, recreation, and lake life
• +2 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Berkshire Hathaway HomeServices Smith Mountain Lake Real EstatecoreChannel Partner/ Reseller/ DistributorFormerly Waterfront Properties, established in 1987 as the real estate division for Willard's developments. Now operates as Berkshire Hathaway HomeServices franchise, providing worldwide network access for Smith Mountain Lake property sales. Consistently leads market share in the region.
• Westlake CinemacoreChannel Partner/ Reseller/ Distributor13,800-square-foot four-plex movie theater opened 2005 within Westlake Towne Center. Features stadium seating, Dolby Digital Surround, and hearing assistance systems. Continues to operate as part of The Willard Companies portfolio.
• McConnell GolfminorStrategic or Co-development PartnerPurchased The Water's Edge Country Club and The Westlake Golf Course from The Willard Companies in December 2020. The Water's Edge now has 450+ members under McConnell Golf management.
• The Waterfront Management LLCminorStrategic or Co-development PartnerPurchased The Waterfront Country Club from The Willard Companies in December 2020.
• KrogercoreChannel Partner/ Reseller/ DistributorAnchor grocery tenant at Westlake Towne Center, providing essential retail draw for the shopping center.
• Westlake Salon & SpaminorChannel Partner/ Reseller/ DistributorAcquired in 2009 and operated until sale in 2019 to Maven at the Lake Salon & Spa.

Scale indicators5 records

Recent moves11 records

Expansion highlights4 records

Broad incumbents

• Regency Centers: Public REIT focused on grocery-anchored shopping centers. Operates a comparable commercial real-estate business model to Westlake Towne Center, with anchor-tenant relationships (notably with grocers like Kroger) central to its operating strategy.
• Compass: Large national real-estate brokerage network with a tech-enabled agent platform and luxury market focus. Comparable to the Willard's Berkshire Hathaway HomeServices brokerage arm in serving affluent residential buyers.
• Toll Brothers: Large national luxury homebuilder with active master-planned-community operations and move-up/active-adult product lines. Comparable as a residential developer targeting similar affluent, lifestyle-oriented buyer segments, though at a much larger scale and broader geography.
• Brixmor Property Group: Public shopping-center REIT that owns and operates open-air retail centers across the U.S. Comparable as a commercial property manager/landlord for assets similar in function to Willard's Westlake Towne Center, though operating at vastly greater scale.
• D.R. Horton: Largest U.S. homebuilder by volume, active in land development and master-planned communities nationwide. Comparable as a residential developer capturing value across the build-to-sell community life cycle, though at a much larger scale.
• Kimco Realty: Public shopping-center REIT and one of the largest owners of grocery-anchored open-air retail in the U.S. Peer in the commercial real-estate ownership and leasing model that underpins the Westlake Towne Center business.

Regional players

• Maronda Homes: Private, family-controlled production homebuilder with deep regional roots across the Mid-Atlantic and Southeast. Comparable as a privately held, family-operated residential builder serving similar Virginia/regional markets and customer segments.

Direct peers

• Crescent Communities: Private, multi-generational developer of master-planned communities, single-family rentals, and commercial properties across the Southeast. Comparable developer profile with regional concentration and integrated construction, brokerage, and lifestyle amenities.
• Reynolds Companies (Reynolds Lake Oconee): Developer and operator of a master-planned lake and golf community in Georgia encompassing thousands of acres, residential real estate sales, and commercial amenities — directly comparable business model to The Willard's Smith Mountain Lake developments, including vertical integration from land development through brokerage.
• Berkshire Hathaway HomeServices: The national real-estate franchise network of which the company's wholly-owned subsidiary (Berkshire Hathaway HomeServices Smith Mountain Lake Real Estate) is a member. Direct peer for the brokerage arm and a key channel for distributing the company's home-site and resale inventory to a global buyer pool.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Willard Companies