As No. 7 on the National Multifamily Housing Council’s Top 25 Developers list and No. 9 on the Top 25 Builders list, The Garrett Cos. has been on the move. With roughly 7,300 units in the pipeline, over 4,500 were under construction heading into the year, and another 2,300 have either started or are soon to start.
Recently, the firm has collaborated on a commercial division with Legacy Development Partners. Founder and CEO Eric Garrett is excited about the possibilities it will present in future mixed-use developments. Below, Garrett shares more insight about what’s ahead for the award-winning company.
Eric Garrett
For the second half of 2025, what is on The Garrett Cos.’ to-do list?
We’ve been in an incredible growth mode. Our inclusion in the top 10 on both the NMHC developer and builder rankings this year testifies to our growth and scale. In the second half, we’ll continue to acquire sites for new development at a nice clip, construct more projects for third parties, and unveil a new approach to community management and ownership that we’ll have more to say about soon.
What concern do you have for the multifamily industry?
The industry is coming off a period with record deliveries, namely in the Sun Belt. That said, there’s still a national housing shortage, particularly for product that serves middle-income, hardworking families. I’m always cognizant of serving that part of the market, and others should be, too. Even as market-rate developers, we can—and do—build product with rents that are naturally affordable for many people in the areas we build.
Are there any new markets on the horizon?
We’re national and build wherever we identify locations and sites that meet our strict criteria. We continue to be most active in Colorado; Arizona; the Midwest, including Indiana, Iowa, Minnesota, and Michigan; Arkansas and Texas; and the Southeast, including Florida, North Carolina, and Tennessee. Look for us to announce our first projects in South Carolina soon.
Can you share a little more about Legacy Development Partners?
We’ve always been believers in mixed-use development because of its role in helping create vibrant communities for residents and connecting our properties with the local community. For example, several of our projects have included restaurants on-site. Leaning into Chris Hake and his team at Legacy allows us to scale our commercial aspirations further and faster, both to the extent that some of our future apartment communities are mixed-use, and as Legacy develops other commercial projects.
Because The Garrett Cos. continues to win Best Place to Work accolades, can you describe the company culture?
We are continuing to evolve our recruitment, training, and benefits programs, which have produced a retention rate of 97% annually. But the short answer is that the “Garrett Feeling” is our secret sauce. It’s an intangible, deeply rooted in a series of values, that we aspire to live collectively day in and day out. We back it up by offering tangible benefits like the annual Telluride ski retreat and other team activities, time off for volunteering in the community, convenience perks like haircuts and oil changes at the office, and access to fitness centers. The biggest perk of all is our college tuition program. If you work for The Garrett Cos. for more than six years, we will contribute $100,000 to your children’s college tuition.
What has kept you in the industry since 1999?
I love the business and the product type. I lived in apartments growing up and appreciate the need for homes of all types delivered with exceptional quality, value, and service to residents and investors. The Garrett team takes incredible pride in our work, and by developing, constructing and managing quality product time and again, it begets a virtuous cycle—we are motivated to keep doing it.
