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The New Home Company Celebrates 10th Anniversary of Building Better Lives

Company Release - 8/26/2019 11:00 AM ET

Founded in 2009 by four industry titans, NEW HOME has evolved in its first decade of doing business and has never let go of its core values.

ALISO VIEJO, Calif.--(BUSINESS WIRE)-- In 2009, four real estate development industry veterans—Joe Davis, Tom Redwitz, Wayne Stelmar and Larry Webb—joined together with a vision to start a new homebuilding company. The goal was simple yet ambitious: To create a company that is recognized as one of the best homebuilders in the country. Under that premise, The New Home Company (NEW HOME) (NYSE: NWHM) was born in Irvine, California and this week marks its 10th anniversary in business.

Now, a decade later, NEW HOME is one of California’s most active homebuilders with divisions in Southern and Northern California, and Arizona. Over the last few years, Davis, Stelmar and Redwitz each retired from NEW HOME but stayed connected with the company, and it was recently announced that Webb would transition from his role as Chairman and Chief Executive Officer to Executive Chairman. As Executive Chairman, he will maintain an active role in the strategic management of the Company and with the investment community. He will also continue as Chairman of the Board.

Leonard Miller, who joined NEW HOME in 2017, will succeed Webb and has been named President and Chief Executive Officer effective August 30, 2019. John Stephens has served as Chief Financial Officer since 2015 and has been named Executive Vice President and CFO. Joan Marcus Webb, who has been with the company since its inception, will continue serving in her role as Chief Marketing Officer. Miller, Stephens and Webb have enjoyed decades of success with distinguished careers in the homebuilding industry and were handpicked by Larry Webb and the Board of Directors to guide NEW HOME moving forward.

After beginning with just a handful of employees, the company is now home for almost 300 team members. In 2014, it completed its initial public offering, with shares of common stock now trading on the New York Stock Exchange under the symbol “NWHM.” Along with the growth and progress of the company, Larry Webb says that one thing has remained steadfast: NEW HOME has never let go of its core values of being the best it can be, with a commitment to building better lives for all its customers, team members and shareholders.

“When we established NEW HOME 10 years ago, it’s safe to say that our timing was exceptional,” said Webb. “The economy was depressed, and the homebuilding environment was challenging. However, based on our team’s collective experience, we were confident that conditions would improve, and we had a group of investors that believed in our vision and passion for homebuilding. We’ve been through our ups and downs over the 10 years, but we are committed to launching new programs that will lead to increased profitability. And most importantly, we have a great team that delivers award-winning homes and we are making the markets where we build better places to live.”

Headquartered in Aliso Viejo in Orange County, California, NEW HOME also has offices in Roseville that serves the greater Sacramento region and the San Francisco Bay Area. In 2016, it announced a strategic expansion into the Phoenix market and opened its Arizona division, its first outside of California. Over the past 10 years, NEW HOME has been one of the nation’s most awarded builders, earning top design and planning honors from the industry’s premier awards shows. It has won multiple “Community of the Year” awards for its communities throughout the western United States.

NEW HOME has dozens of communities that are actively selling or in planning and development stages in California and Arizona’s most desirable locations. The company offers a wide range of homes across all price points that result from extensive market research to ensure it delivers the most innovative and thoughtfully designed homes in each place it builds.

As part of its 10th Anniversary, NEW HOME has launched “A Celebration: 10 Years in the Making” campaign which will provide buyers between now and September 30 incentives of $10,000 to be used towards their new residence. This is offered at all NEW HOME communities in California and Arizona.

What’s in store for NEW HOME in the next 10 years? The company is committed to designing and building homes that fit how today’s buyers want to live for less. It has plans to announce NUVO—a first-of-its-kind approach to homeownership which focuses on attainability through a balance of cost, space and connectivity—across all of its markets in 2020. For NEW HOME, it starts with land acquisition, working tirelessly to identify underutilized properties in areas that need new housing and have the potential for thriving residential neighborhoods that are well designed and thoughtfully priced.

NEW HOME is also dedicated to updating today’s new homes with tomorrow’s ideas. This year, it has strategically unveiled “EVO Home Tech” under which it offers new homes with modern digital design for increased connectivity, customization and wellness.

“The future is very bright for The New Home Company,” said Larry Webb. “I believe we have created an amazing culture of innovation combined with a competitive spirit. What we do as homebuilders is noble and I’m truly excited to see where the company goes from here.”

For more information on NEW HOME and its communities, please visit www.NWHM.com.

About The New Home Company

NEW HOME is a publicly traded company listed on the New York Stock Exchange under the symbol “NWHM.” It is a new generation homebuilder focused on the design, construction and sale of innovative and consumer-driven homes in major metropolitan areas within select growth markets in California and Arizona, including coastal Southern California, the San Francisco Bay area, metro Sacramento and Phoenix. NEW HOME is a multi-year recipient of “The Eliant” for Best Overall Customer Experience in the Eliant Homebuyers’ Choice Award’s multi-divisional builder segment. For more information about the company or its current new-home offerings, visit www.NWHM.com.

Media Contact:
Mike HoyePaolucci Salling & Martin Communication Arts | Public Relations
(310) 346-0845 (mobile) or mhoye@PSMCommArts.com

Source: The New Home Company

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