Waverton Mourns Death of Company Founder John P. Wright & Announces Next Generation Executive Team
April 1st, 2022 – PORTSMOUTH, VA
It is with profound sadness that Waverton announces the passing of its beloved Founder and Chairman, John P. Wright, who passed away earlier this week at the age of 67. Over the last two years, he valiantly fought cancer while still captaining the Waverton ship on a daily basis. His efforts culminated with a flurry of new property developments and executive recruitment setting the stage for the next generation of Waverton leadership.
His son, John A. Wright, who has been his father’s partner since day one of the Waverton journey issued the following statement on Waverton’s future: “The mission for the future of Waverton will strictly involve building on the solid foundation and principles that John P. Wright put in place some 25 years ago. Over that period of time, we have been extremely fortunate and maintained a company that has proven success through good times and bad. Going forward, we intend to diversify our product and capabilities as market trends and demands change, but most importantly, move the company into the future in a manner that best represents the legacy of my father.”
John A. Wright will remain President & Chief Operating Officer and will be joined by long-time banking partner, Phil Smith, as Waverton’s Chief Executive Officer. A seventeen-year commercial lending executive at TowneBank, Smith brings extensive real estate development and financing expertise including land acquisition, land development, construction, single family subdivisions, multifamily, hotels, shopping centers, retail, industrial, and self-storage.
On his decision to join Waverton, Smith offered the following: “It has been an honor to work with John Wright and his family over the past 17 years. We have been through a number of trying times including the Great Recession, the Pandemic, and the devastating loss of his former business partner, Al Keene. It was during those times that John and his team taught me a tremendous amount, not just about business, but about life, character, and perseverance. I am both humbled and honored to help carry on the legacy that John and his team have built and will miss him tremendously.”
Waverton has bestowed upon John the title of Founder and now Chairman Emeritus in perpetuity. His nephew and nineteen-year private equity veteran, J. Cameron Robinett, has been appointed Chairman of Waverton effective immediately. “These are massive shoes to fill but I couldn’t be more excited to be a part of this team dedicated to building upon my uncle’s amazing accomplishments,” Robinett said. “He had high expectations of himself and those around him. Tough but fair. One with a zeal for learning and a gunslinging entrepreneurial spirit who was beyond generous in offering his talents and resources. We intend to reflect those traits at Waverton as we move forward. The best is yet to come.”
Inquiries: Cameron Robinett (757) 621-5978 | cameron@wavertonassociates.com
John P. Wright, 1955-2022
Founder and Chairmen Emeritus
John P. Wright, a lifelong resident of the Portsmouth community and a proud native of Hampton Roads, devoted his life to serving and uplifting the region he called home. His unwavering dedication was evident in the many communities shaped by his vision, as well as his consistent support of industry programs and local initiatives that enriched the lives of countless residents.
Throughout his career, Mr. Wright was deeply engaged at every level of the building industry. He played an active role in local, state, and national Builder’s Associations, where he contributed his extensive knowledge of the construction industry and his deep understanding of the legislative needs of the real estate sector. His leadership included serving on both the Executive Committee and the Board of Directors for the Home Builders Association of Virginia.
In addition to his professional accomplishments, Mr. Wright made a profound impact through his philanthropic endeavors. He was a founding director and a four-year past president of South Hampton Roads Habitat for Humanity, Inc., reflecting his deep commitment to giving back to the industry and community that shaped his life and career.
Mr. Wright was also a staunch advocate for lifelong learning and professional development. He held the distinction of being the first person in the United States to earn the prestigious Master Builder designation, an achievement awarded only to those who meet the highest standards of continuing education in the field. His passion for education led him to become an instructor for the National Association of Home Builders’ Graduate Builders Institute, where he taught all Graduate Builder courses and six of the nine Master Builder courses.
His tireless commitment to advancing the housing industry and his generosity of spirit earned him widespread respect among his peers. His sterling reputation, built over decades of service and excellence, continues to influence the industry and inspire those who follow in his footsteps.
Mr. Wright began his journey in the construction industry in October 1972, when he founded the John P. Wright Construction Company. Initially focused on site development and heavy industrial concrete construction in the commercial and industrial sectors, the company expanded in the late 1970s into residential construction. Under Mr. Wright’s leadership, it successfully built numerous single-family homes throughout the Hampton Roads area, laying the foundation for a legacy that endures to this day.
Ripley-Wright, 1983-1998
In 1983, Mr. Wright partnered with Ronald C. Ripley to form Ripley-Wright Associates, LTD, a real estate development and management firm dedicated to creating high-quality, lifestyle-focused multi-family housing communities across the Commonwealth of Virginia. Through this venture, Mr. Wright became deeply involved in every aspect of the development process—from planning and construction to property management—further solidifying his expertise and influence within the industry.
Under their leadership, Ripley-Wright Associates successfully developed residential communities in ten different municipalities throughout Virginia, each project reflecting a commitment to thoughtful design, livability, and long-term community value. The firm’s work contributed significantly to the state’s housing landscape and underscored Mr. Wright’s enduring legacy in the real estate development field.
Triad of Virginia
Triad of Virginia, Inc., a wholly owned subsidiary of Waverton Associates, was established in 1994 with the goal of gaining greater control over the site construction process for Waverton’s own developments. Founded as a site development contractor and for-hire trucking company, Triad quickly evolved into a robust operation serving both Waverton projects and third-party contracts across the region.
Over time, the company expanded significantly, growing into a full-scale construction enterprise. At its peak, Triad operated five fully equipped earthmoving crews, five utility installation crews, and three specialized concrete crews, utilizing two advanced slip-form paving machines for efficient and high-quality site concrete installation. Its trucking division boasted the largest fleet of dump trucks for hire in Virginia, making Triad a dominant force in the state's trucking and site development industries for over 15 years.
Employing approximately 85 people and operating 45 quad-axle trucks daily, Triad played a vital role in the success of Waverton's developments. Although it continued to accept third-party contracts, the majority of Triad’s manpower and machinery became increasingly dedicated to Waverton-owned projects as the company grew.
Eventually, as Waverton completed its development backlog and economic conditions began to shift, the company made the strategic decision to divest the assets of its site construction division. Waverton successfully negotiated the sale of nearly all of Triad’s heavy equipment to an international buyer in a single, large-scale transaction, marking the end of an impactful chapter in the company’s history.
Waverton Cable and Communication
In 1997, Mr. Wright founded Waverton Cable and Communication, LLC with the innovative vision of providing integrated telecommunications services exclusively to residents of his luxury apartment communities. By leveraging wholesale bulk purchasing from national providers, the company offered local and long-distance telephone service, high-speed internet, and cable television at competitive retail rates. This unique approach allowed Waverton communities to benefit from enhanced connectivity and convenience, further distinguishing them in the marketplace.
The operations of Waverton Cable and Communication were later sold to Cavalier Telephone and COMCAST, a Fortune 500 company, in a strategic move that aligned with the evolution of the telecommunications industry and Waverton’s long-term business goals.