NEW HOME and Great Park’s Developer FivePoint enter into Strategic Relationship on Atlas, a collection of luxury detached single-family homes and the last to be built at Rise.
ALISO VIEJO, Calif. (July 23, 2020) – The city of Irvine is a special place for The New Home Company (NEW HOME, NYSE: NWHM). It’s where the company built its first homes in 2009. Since then, it has successfully completed multiple communities and hundreds of homes in the city. Today, NEW HOME announced its return to Irvine with Atlas, a collection of thoughtfully designed expansive residences within Rise at the Great Park Neighborhoods.
NEW HOME has entered into a strategic relationship with the developer of Great Park Neighborhoods (FivePoint) on Atlas, where construction is now underway. The detached single-family homes will feature a contemporary blend of traditional and modern architecture with spacious floorplans ranging from 3,360 to 3,647 square feet with up to five bedrooms. Atlas residents will have access to the abundance of community amenities that define the Rise village, with pools, clubhouses, parks, sky decks and trails to explore and enjoy.
An interest list is now forming for Atlas and NEW HOME anticipates a sales launch and model homes debut in early 2021. Prices are expected to begin in the mid $1 millions.
“We’re thrilled to be back in Irvine where we’ve had the honor of building award winning homes for families over the last decade, including at our first Great Park neighborhood,” said Joan Webb, Chief Marketing Officer for NEW HOME. “FivePoint has done a tremendous job in creating a master plan for Great Park that has resulted in it becoming one of the most desirable communities in Southern California. Atlas will be the ideal setting for growing families looking for more square footage, excellent schools and all of the lifestyle benefits afforded at the Great Park Neighborhoods.”
“NEW HOME is a well-known, quality home builder who we have had a long relationship with. We are very happy to see them return to our Great Park community,” said Lynn Jochim, Chief Operating Officer for FivePoint.
Atlas, which will include a total of 38 homes, will be the 10thand final neighborhood to open at Rise.
For more information on Atlas, visit www.AtlasNWHM.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 was named 2019 Builder of the Year by Professional Builderand is a multi-year recipient of “The Eliant” for Best Overall Customer Experiencein the Eliant Homebuyers’ Choice Award’s multi-divisional builder segment. NEW HOME was twice named to the Inc. Magazine Founders 40 list, recognizing public companies that have maintained a strong entrepreneurial spirit. For more information about the company or its current new-home offerings, visit NWHM.com.
Five Point, headquartered in Irvine, California, designs and develops large mixed-use, master-planned communities in Orange County, Los Angeles County, and San Francisco County that combine residential, commercial, retail, educational, and recreational elements with public amenities, including civic areas for parks and open space. Five Point’s communities include the Great Park Neighborhoods® in Irvine, Valencia® (formerly known as Newhall Ranch®) in Los Angeles County, and Candlestick® and The San Francisco Shipyard® in the City of San Francisco. These communities are designed to include approximately 40,000 residential homes and approximately 23 million square feet of commercial space. For more information, visit FivePoint.com. Five Point’s Great Park Neighborhoods community is owned and developed through a separate joint venture entity known as Heritage Fields El Toro, LLC in which Five Point is a member/owner and development manager.
About Great Park Neighborhoods
Great Park Neighborhoods is taking shape around the perimeter of the Orange County Great Park in Irvine. It’s a collection of signature parks, surrounded by distinctive homes. With convenient access to the best Orange County has to offer. Top-ranking schools. Miles of walking and biking trails. And community gatherings that connect residents with their neighbors. For more information, visit GreatParkNeighborhoods.com.
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Media Contact: Mike Hoye
Paolucci Salling & Martin Communication Arts | Public Relations
(310) 346-0845 (mobile) or mhoye@PSMCommArts.com