NEWPORT BEACH, Calif. (September 3, 2014) – Months before construction is scheduled for completion on Phase One, The New Home Company (“NEW HOME”, NYSE: NWHM) today announced it has surpassed 30 sales, representing more than $90 million of backlog at Meridian, a collection of 79 sophisticated coastal residences in the heart of Newport Beach, Calif.
NEW HOME is on schedule for a late 2014 opening of the first two buildings at Meridian, and with demand increasing, the company is excited by the sales prospects for this community. Meridian is the first, new for-sale residential community in the Newport Center® area next to Fashion Island® in more than 20 years.
Located less than a one-minute walk to Fashion Island®, Orange County’s premier open-air retail center, Meridian includes five individual buildings with residences ranging from 2,335 to 3,905 square feet. Homes are priced from the high $1,000,000s.
Featuring contemporary Mediterranean architecture with expansive windows, Meridian is designed to take advantage of ocean, golf course, garden and city views. Many of the residences overlook the fairways of the Newport Beach Country Club.
“Ease of living is the ultimate luxury at Meridian, where lifestyle is what first and foremost sets the community apart,” said NEW HOME Senior Vice President of Sales, Marketing and Design, Joan Marcus-Colvin. “Meridian offers the finest in luxury living with the freedom of a turn-key residence, minimal attention to maintenance and complete privacy and security. These attributes, coupled with Meridian’s world-class location, are driving our tremendous sales success here.”
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.” 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, 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. Most recently, NEW HOME was recognized as one of the “Best Places to Work” in Orange County by the Orange County Business Journal. For more information about the company or its current new-home offerings, visitwww.NWHM.com.