The New Home Company Expands into San Diego with First Community Underway in Mission Valley

Promontory will be comprised of 133 attached homes on an elevated site within Civita, an emerging master-planned community in the heart of San Diego.

SAN DIEGO--()--The New Home Company (NEW HOME, NYSE: NWHM) has announced a strategic expansion into the San Diego market with its first collection of residences, called Promontory, now underway in the emerging 225-acre master-planned community of Civita in Mission Valley. Civita is being developed by Sudberry Properties in partnership with the Grant family, which has owned the land since the early 1900s.

Promontory is located on 8.7 acres set atop the highest point of Civita, and will be comprised of 133 three-story and single-story attached homes ranging from 1,401 to 2,188 square feet of living space and up to three bedrooms and three and one-half baths.

NEW HOME plans to open an on-site sales gallery in late summer 2017 and at the same time will offer a selection of residences to the interest list during a pre-sales program. Prices are expected to begin in the $700,000s. A model home Grand Opening for Promontory is anticipated for late 2017.

The modern residences at Promontory were designed by the award-winning Woodley Architectural Group with special attention and care given to capturing and framing the unobstructed views through floor-to-ceiling windows, great rooms and master bedrooms oriented toward the valley below, and oversized patios and decks that enhance the overall indoor/outdoor living experience.

NEW HOME has been one of the most active home builders in California since the company was formed in 2009. Headquartered in Aliso Viejo, Calif., the company has divisions in Southern California, the San Francisco Bay Area, the Sacramento region and Arizona.

“We’ve had our eye on San Diego for some time and when the opportunity to purchase land at Civita was presented to us, we saw it as a prime location to plant our flag in the market,” said NEW HOME Chief Executive Officer H. Lawrence Webb. “Our focus is on building homes where we will be rewarded for exceptional planning and architecture. We strive to be in demographically strong locations where there is a growing job base. San Diego has these characteristics and we expect to be very successful here.”

Civita offers the very best of San Diego living. It is centrally located in the heart of San Diego, with Balboa Park and Downtown just a few miles south, and the bay and beaches a short drive west. The light rail is within walking distance, connecting homeowners to major employment centers and destinations nearby.

Designed by an award-winning team of architects, the Civita Recreation Center will open later this summer. Spanning 2.5 acres, the Rec Center will capture the essence of a resort destination with spaces to lounge or socialize, swim or spin, relax or dance. The 8,790 square-foot clubhouse will overlook a spectacular lagoon pool, a lap pool, two spas and covered patios for year-round BBQs and picnics.

The community includes a series of parks and dog parks, including the signature Civita Park which is now open. The 14.3-acre, multi-level property is the centerpiece of Civita’s network of parks, open space and trails that encompass nearly one-third of the community. Highlights of the park include an outdoor amphitheater; interactive water feature with 48 jets; picnic tables and “outdoor living rooms” shaded by wisteria-covered trellises; game area; community garden; basketball half-courts; dog park with separate large/small dog enclosures and restrooms.

Plans at Civita also call for a future commercial center creating a walkable downtown atmosphere for all residents to enjoy.

Those interested in a new home at Promontory are encouraged to visit www.PromontoryNWHM.com to register and receive updates on community progress, future events and sales opportunities.

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. In 2017, NEW HOME won a total of 22 Eliant Awards, the highest number earned by a home builder in this year's competition. For two years in a row, NEW HOME has been named to the Inc. Magazine Founders 40 list, recognizing newly public companies that have maintained a strong entrepreneurial spirit. For more information about the company or its current new-home offerings, visit www.NWHM.com.

Contacts

Paolucci Salling & Martin Communication Arts
Mike Hoye, 310-346-0845
Public Relations
mhoye@PSMCommArts.com

Contacts

Paolucci Salling & Martin Communication Arts
Mike Hoye, 310-346-0845
Public Relations
mhoye@PSMCommArts.com