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The New Home Company Moves Forward on The Cannery in Davis, California

Site grading begins and NEW HOME presents region’s top homebuilders with opportunities to purchase lots for future neighborhoods within the highly anticipated mixed-use community

DAVIS, Calif.--(BUSINESS WIRE)--The New Home Company (NEW HOME) (NYSE: NWHM) today announced that development of The Cannery, the thoughtfully designed mixed-use neighborhood in Davis, Calif., is progressing on schedule with the commencement of overall community grading operations and site improvements. The highly anticipated community is taking shape on the former Hunt-Wesson tomato cannery facility at E. Covell Boulevard and J Street, near the center of downtown Davis.

“The Cannery is going to be a very special place, a community unlike any other in the greater Sacramento region, so it is no surprise that so many homebuilders want to be a part of it”

Once grading is complete, construction will begin on an array of community buildings and amenities. Then, later this year, construction will start on the model homes for The Cannery’s individual neighborhoods. NEW HOME has also announced that opportunities exist for homebuilders — small and large — to purchase land for the future neighborhoods within the community. Dozens of the region’s top homebuilders recently attended a Builder Presentation & Land Offering Introduction hosted by NEW HOME officials to begin the selection process.

“The Cannery is going to be a very special place, a community unlike any other in the greater Sacramento region, so it is no surprise that so many homebuilders want to be a part of it,” said Kevin Carson, President Northern California for NEW HOME. “We have extremely high expectations to deliver the one-of-a-kind community that The Cannery is envisioned to be. Therefore, we will be very thorough in our approach to selecting homebuilder partners. We expect to make announcements in the near future on which companies have been selected to help us carry out our vision.”

Viewed as a model of innovative design and sustainable living with a plan that is the first of this scale in Davis in more than 20 years, The Cannery will include 547 homes and affordable apartments with energy efficient and Livable Design™ features built into every residence, a 15-acre mixed-use area and an approximately 7.4-acre urban farm. As California’s first farm-to-table new-home community, The Cannery will provide the homes, restaurants and local neighbors with fresh seasonal produce.

In addition to the array of homes that will be offered in the neighborhood, The Cannery has been designed with alternative modes of transportation in mind.

NEW HOME has integrated design components that prioritize pedestrians, bicycles, electric vehicles and public transportation. A transit plaza in the southern portion of The Cannery has been designed as an outdoor gathering space with easy access to the neighborhood’s retail experience and will feature covered bicycle parking and dedicated places to use and charge personal electronic devices.

NEW HOME has been working closely with the City of Davis, the Center for Land-Based Learning and its architecture firms, JD+A Architects of Granite Bay, Calif. and Robert Hidey Architects of Irvine, Calif., to finalize the designs for The Cannery’s farm buildings and recreational clubhouse.

In related news, The Cannery was recently awarded a Gold Nugget “Grand Award” for Best on the Books Site Plan at PCBC in San Francisco. PCBC is a gathering of America’s most prominent residential builders, developers, architects, building scientists, lenders, investors, marketers and product manufacturers.

An interest list for The Cannery is now forming at LiveCanneryDavis.com.

About The New Home Company

NEW HOME, one of California’s most active homebuilders, became a publicly traded company in early 2014. It is now trading stock on the New York Stock Exchange under the symbol “NWHM.” NEW HOME 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, including coastal Southern California, the San Francisco Bay area and metro Sacramento. In 2013 and 2014, NEW HOME was the 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.

Contacts

Paolucci Communication Arts | Public Relations
Mike Hoye, 310-346-0845 (mobile)
mhoye@PaolucciCommArts.com