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The New Home Company Continues Arizona Expansion with Construction Underway on Mosaic at Layton Lakes in Gilbert

May 28, 2019

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--May 28, 2019--

As part of its strategic expansion in Arizona, The New Home Company (NEW HOME) (NYSE: NWHM) announced today that it recently acquired land and started construction on a community of 222 townhomes and flats, called Mosaic, within the popular lakefront master-planned community of Layton Lakes in Gilbert.

NEW HOME is a publicly traded homebuilder headquartered in Aliso Viejo, California, with Arizona operations based in Scottsdale. Its award-winning Arizona division recently earned several top architectural honors at the 2019 MAME AZ Awards, including Best Attached Product Design for Homes over $1 million at ICON Silverleaf in Scottsdale. ICON Silverleaf is also nominated for Best Multi-Family Housing Community at the upcoming 2019 Gold Nugget Awards which recognize the homebuilding industry’s best in architectural design and planning excellence, drawing entries from throughout the United States and around the world.

Mosaic, planned to open in spring 2020, will be NEW HOME’s second community in Gilbert, joining Belmont, which opened last summer. Belmont features 53 spacious single-family residences and is expected to sell out later this year.

Mosaic will offer a diverse mix of housing types in three distinct neighborhoods consisting of 87 Row Townhomes, 69 Backyard Townhomes and 66 Flats. With pricing anticipated to start in the high $200,000s, NEW HOME expects to attract a range of buyers to Mosaic, from empty nesters to young families and first-time homeowners.

When it opens, Mosaic will feature a gated entrance, swimming pool and spa, tot lot, barbecue grills and walking paths. Residents will also have access to Layton Lakes’ jogging track, splash pad, tennis and basketball courts, baseball fields, parks and highly rated schools.

“Following the tremendous sales success of Belmont, we’re thrilled to introduce Mosaic as our second community in Gilbert, the fastest growing city in Metropolitan Phoenix,” said NEW HOME Arizona Division President Christopher Cady. “Our Mosaic buyers will appreciate our award-winning approach to creating thoughtfully designed homes ideal for a variety of lifestyles that are set in a family-friendly environment with a quality social infrastructure.”

NEW HOME, which launched operations in Arizona in 2016, currently has four actively selling communities in the greater Phoenix region: Belmont, ICON Silverleaf in Scottsdale, and the Villas and Residences at Mountain Shadows in Paradise Valley.

“Although we’ve only had a presence here for a few years, it’s been extremely gratifying to become one of the most highly regarded homebuilders in Phoenix, earning some of the highest honors for planning and design,” said Cady. “We’re committed to this market and look forward to continued expansion as we complete our current communities and acquire land for new projects.”

An interest list for Mosaic is now forming at www.LiveMosaicAZ.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 is a multi-year recipient of “The Eliant” for Best Overall Customer Experience in the Eliant Homebuyers’ Choice Awards. 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 www.NWHM.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190528005106/en/

CONTACT: Mike Hoye

Paolucci Salling & Martin Communication Arts | Public Relations

(310) 346-0845 (mobile) ormhoye@PSMCommArts.com

KEYWORD: UNITED STATES NORTH AMERICA ARIZONA CALIFORNIA

INDUSTRY KEYWORD: OTHER CONSUMER CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE CONSUMER

SOURCE: The New Home Company

Copyright Business Wire 2019.

PUB: 05/28/2019 12:00 PM/DISC: 05/28/2019 12:01 PM

http://www.businesswire.com/news/home/20190528005106/en

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