William Cleverly co-founded Monterey Homes in 1985 and served as President from its inception until December 1996 when Monterey Homes closed an unusual reverse merger with a NYSE public company. Monterey Homes changed its name to Meritage Homes Corporation and is listed on the New York Stock Exchange as “MTH” and Mr. Cleverly served as Chairman of the Board and Co-Chief Executive Officer. Meritage Homes designs, builds and sells distinctive single-family homes ranging from entry-level to semi-custom luxury and has built more than 100,000 homes in its 31-year history and is the 7th largest homebuilder in the United States in more than 200 communities.
Mr. Cleverly retired from Meritage and the Board of Directors in June 2002 and thereafter founded INCA Capital. INCA as a principal has funded more than $500 million off-balance sheet financing transactions for private and public homebuilder subdivisions and more than $500 million of real estate loans for investors, builders & developers. In addition, the company has developed and sold approximately 5,000 single-family residential lots in Metropolitan Phoenix and is currently preparing for development, a master plan community known as Tortolita, in Tucson, Arizona. Tortolita will have 6,500 homes and mixed-use properties including apartments, retail shopping centers, office buildings and a commerce business park. He was on the Arizona Board of Directors of Compass Bancshares, a $60 billion U.S. Bank, for nine (9) years) as well as a founding board member of First National Bank of Scottsdale / First Scottsdale Bank. From 1983 to 1985, Mr. Cleverly was Owner-President of a real estate development firm that developed and built a dozen multi-family apartment communities (for its own account) in the Phoenix area. He earned his undergraduate degree in Business from the University of Arizona in 1980 and is originally from Palo Alto, California.