PHOENIX—The first of its kind outside of California, the Arizona division of The New Home Company marks a strategic expansion into the Phoenix market. NEW HOME's initial community will consist of 68 home sites in the former Mountain Shadows resort in Paradise Valley, AZ. The community will offer a selection of luxury detached homes and condominiums.
H. Lawrence Webb, CEO of The New Home Company, tells GlobeSt.com: "I believe there are great opportunities in the Scottsdale/Paradise Valley for a homebuilder like us. We want to be in markets in which you get rewarded for thoughtful, consumer-driven design. Our Mountain Shadows community is the perfect location for our entry into this market."
NEW HOME has been one of the most active home builders in California since the company was formed in 2009. 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. Headquartered in Aliso Viejo, CA in Orange County, NEW HOME now has divisions in Southern California, the San Francisco Bay Area, the Sacramento region and Arizona.
"We've been considering an expansion into Phoenix for more than two years," says Webb. "Our focus continues to be opportunities in land-constrained markets where we will be rewarded for exceptional community planning and creative architecture. We prefer to be in demographically strong locations where there are four to five jobs being created for every building permit pulled, and where there is strong competition from the resale market. Phoenix has these characteristics and we expect to be very successful here."
NEW HOME also announced that veteran homebuilding executive, Pat Moroney, has been named president of the Arizona division. Moroney has 30 years of homebuilding experience and for the last 16 years, served as a division president in the Phoenix market with Meritage Homes, Journey Homes/Taylor Woodrow Homes and most recently with Standard Pacific Homes.
Moroney, who also has experience in Florida and Southern California, is an honorary life director of the Home Builders Association of Central Arizona. He received a bachelor of science in resource management from Northern Arizona University.
"In just six years, The New Home Company has become one of the most highly regarded builders in California, winning every award imaginable for planning, design and customer service," said Moroney. "I'm thrilled to become a part of the team as we introduce the NEW HOME brand to Phoenix."
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
