Lexington Development
Lexington Development is a privately held, founder-led residential real estate developer led by Scott Schaefer, building custom homes, production homes, townhomes, and culturally specialized senior living communities for Indian immigrants across Texas, Mississippi, and Florida.
- Company typePrivate
- Founded2008
- HeadquartersDallas, United States
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Lexington Development does
Lexington Development is a privately held, founder-led residential real estate development and construction firm led by Scott Schaefer. The company operates across eight core service lines: custom and luxury estate homes, production single-family homebuilding, urban townhomes, 55+ active adult communities, niche senior living communities targeted at Indian immigrants, multifamily condominiums and apartments, residential land development, and high-volume renovation work. Projects span Texas (Dallas-Fort Worth metroplex including Highland Park, University Park, Preston Hollow, Bluffview, Plano, and Sugar Land), Mississippi (Memphis metro and surrounding towns), and Florida (Central Florida, including the 112-acre Shantiniketan Village senior living community in Tavares).
The business model is direct property sales to individual buyers, generating one-time revenue per unit sold. Pricing spans a wide range reflecting the product mix: entry-level production homes from $339,000, senior living cottages and townhomes from $249,000 to $499,000, Shantiniketan Phase Four condominiums from $125,000, urban townhomes from $249,000 to $369,000, and luxury custom estate homes from $1 million to $3.2 million. Multi-phase projects generate multi-year revenue pipelines — Shantiniketan Village totals $220 million across 800+ units and Virasat Senior Living projects $92.1 million in gross revenue with $27.5 million projected gross margin.
The company's most differentiated offering is culturally specialized senior living for Indian immigrants, featuring Indian vegetarian meal plans, pocket neighborhoods, and cultural amenities — a niche with limited competition. Lexington Park in Plano represents a public-private partnership with the City of Plano for a 98-townhome transit-oriented development near a DART station. The firm employs 101-250 people and operates without institutional capital, public markets listing, or identified parent company. The Lexington brand carries meaningful reputational carry — realtors continue to advertise homes built by Scott Schaefer as a value marker decades after construction.
Lexington Development firmographics
Firmographics- Name
- Lexington Development
- Website
- https://lexingtondevelopment.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Lexington Development is a privately held, founder-led residential real estate developer led by Scott Schaefer, building custom homes, production homes, townhomes, and culturally specialized senior living communities for Indian immigrants across Texas, Mississippi, and Florida.
- Ownership category
- akta.pro rank
Lexington Development industry classification
Industry- Product category
- Residential Real Estate Development
- NAICS
- New Housing For-Sale Builders (236117), Residential Building Construction (23611), Land Subdivision (237210)
- SIC
- General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552)
- akta.pro primary industry
- Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
Keywords
Where Lexington Development is headquartered
LocationHeadquarters
- HQ city
- Dallas
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Lexington Development business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Personnel, Operations, Infrastructure, Marketing or Sales
Revenue model
- Property Sales: Revenue generated through the sale of developed properties including custom homes, production homes, townhomes, condominiums, multifamily projects, and senior living communities. Properties are developed, built, and sold to individual buyers or investors.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Entry-level production homes from $339,000 |
| Unit Pricing | Pay-as-you-go | Senior living homes from $249,000 to $499,000 |
| Unit Pricing | Pay-as-you-go | Shantiniketan Phase Four condos starting at $125,000 |
| Unit Pricing | Pay-as-you-go | Lexington Park townhomes from $249,000 to $369,000 |
| Unit Pricing | Pay-as-you-go | Luxury custom estate homes from $3,200,000 |
| Unit Pricing | Pay-as-you-go | Wycliff Townhomes valued at $13,625,000 total |
Distribution channels1 record
Lexington Development product offering
Product offeringCore offering
Lexington Development is a residential real estate development and construction company that designs, develops, and builds a portfolio of properties including custom luxury homes, production homes, townhomes, active adult communities, senior living communities, multifamily projects, residential subdivisions, and renovation operations. The company acquires land, manages entitlements, constructs homes, and sells completed properties directly to individual buyers.
Product overview
Lexington Development is a real estate development company led by Scott Schaefer offering a comprehensive portfolio of residential construction services. The company operates across eight core service areas: Custom Homes (luxury custom and estate homes), Production Homes (volume single-family homebuilding), Townhomes (urban and suburban attached homes), Active Adult (55+ communities), Senior Living (niche senior communities), Multifamily (condominiums and apartments), Land Development (subdivision creation), and Renovation (high-volume restoration). Key named projects include Shantiniketan Village, a niche senior living community serving Indian immigrants in Central Florida; Lexington Park, a 98-unit transit-oriented townhome development in Plano; and Virasat Senior Living, a pending 228-unit active adult community in Sugar Land, Texas. The company has developed properties across the Dallas-Fort Worth metroplex and Central Florida.
Differentiator
Problem solved
Functional benefit
Companies that use Lexington Development
Customer profileSegments4 records
Ideal customer profiles4 records
Lexington Development technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Lexington Development partnerships and signals
Strategic signalScale indicators5 records
Recent moves6 records
Expansion highlights5 records
Lexington Development competitors and assessment
Company assessmentBroad incumbents
- Toll Brothers: National luxury homebuilder with major DFW and Central Florida operations covering luxury move-up, active adult (Toll Brothers Active Living), and custom segments — comparable luxury and 55+ product lines at far greater scale.
- K. Hovnanian Homes: National production homebuilder with a strong Texas (DFW, Houston) presence and a dedicated active-adult brand (K. Hovnanian's Four Seasons) — comparable production and active-adult positioning.
Regional players
- Highland Homes: Large Dallas-area production homebuilder offering entry-level to high-end single-family homes in the same submarkets and price bands as Lexington's production home segment — most direct Texas production-home peer.
- Shaddock Homes: DFW-based private homebuilder specializing in luxury and semi-custom single-family homes in Plano, Frisco, and surrounding suburbs — directly comparable geography and product tier to Lexington's custom homes portfolio.
- Centurion American Development Group: Major DFW-based private real estate developer with residential subdivision, multifamily, and mixed-use projects — comparable scale, geography, and developer/builder integrated model to Lexington.
- Darling Homes: DFW luxury homebuilder (subsidiary of Landsea Homes) building in Highland Park, Plano, Frisco, and Prosper — directly comparable luxury custom and urban infill townhome product to Lexington.
Emerging players
- Discovery Senior Living: Senior living operator and developer with multiple active-adult and assisted-living communities in the Sunbelt — comparable to Lexington's vertically integrated senior-living development model (Shantiniketan/Virasat).
Direct peers
- HistoryMaker Homes: Private DFW and Houston production homebuilder targeting entry-level to mid-range buyers — comparable product positioning and pricing band to Lexington's Memphis-area production homes.
- Meritage Homes: Public production homebuilder with a strong entry-level/first-time-buyer focus and an active-adult brand (Resort Collection) — directly comparable production and active-adult product lines, including in Texas.
- Britton Homes: Dallas luxury custom homebuilder operating in Highland Park, University Park, Preston Hollow, and Bluffview — the exact same premium neighborhoods where Lexington places its custom and estate homes, with comparable $1M+ ASPs.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
Lexington Development social profiles
Digital presenceLexington Development financial estimates
Financial estimateRevenue estimate
Valuation estimate
Lexington Development leadership team
Management profileNumber of profiles
Profiles1 record
Lexington Development funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Lexington Development M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Lexington Development
What does Lexington Development do?
Lexington Development is a residential real estate development and construction company that designs, develops, and builds a portfolio of properties including custom luxury homes, production homes, townhomes, active adult communities, senior living communities, multifamily projects, residential subdivisions, and renovation operations. The company acquires land, manages entitlements, constructs homes, and sells completed properties directly to individual buyers.
Is Lexington Development a public or private company?
Lexington Development is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Lexington Development founded?
Lexington Development was founded in 2008. It employs 101 to 250 people.
Where is Lexington Development based?
Lexington Development is headquartered in Dallas, United States, in the North America region.
How does Lexington Development make money?
One revenue line is on record: property Sales.
Who are Lexington Development's main competitors?
Broad incumbents on record are Toll Brothers and K. Hovnanian Homes. Regional players are Highland Homes, Shaddock Homes, Centurion American Development Group and Darling Homes. Discovery Senior Living is listed as an emerging player. Direct peers are HistoryMaker Homes, Meritage Homes and Britton Homes.
Does Lexington Development have an API?
No public API is recorded for Lexington Development.
What industry is Lexington Development in?
Lexington Development's product category is Residential Real Estate Development. Its primary akta.pro industry code is IMAFABAL, Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities). Its NAICS code is 236117 and its SIC code is 1520.