The vision, relationships and experience of four industry leaders culminate with successful opening of Carmel at Woodbury, in the Villages of Irvine
IRVINE, Calif. (February 2, 2010) – They’ve overseen the building of tens of thousands homes, but the opening of Carmel at Woodbury in the Villages of Irvine on January 30, may have been the most meaningful of all to the four partners in The New Home Company.
The four – Partner and CEO Larry Webb; Partner and Executive Vice President Joe Davis; Partner and CFO Wayne Stelmar and Partner and Southern California President Tom Redwitz – have navigated multiple business cycles as part of their devotion to the land development and homebuilding industry. But, admittedly, the economic changes over the past two years have challenged them all.
Over its two-day Grand Opening on January 30-31, Carmel welcomed 2,500 home shoppers and quickly sold six new homes. The Irvine Company – developer of the Woodbury and Woodbury East masterplanned communities – reported more than 10,000 visitors toured the community’s six new-home neighborhoods during the much-anticipated opening weekend.
“The opening of Carmel is really special for us,” said Webb, the former CEO of John Laing Homes, which under his direction grew to the second-largest private homebuilder in the United States. “It marks the culmination of extreme determination and sharp vision by not only the founders, but by our whole talented team. It feels good to be back.
“Strategically emerging from the downturn at this time allows us to offer the best value, because of the depth of our relationships, our ability to secure advantageous land deals, and our small, flexible business model,” Webb continued. “At the same time, we understand better than ever the needs of buyers. In this sense, it has taken us our entire lives to become new.”
According to Webb, The New Home Company is the creation of industry leaders who are passionate about advancing the cause of homebuilding. Webb says it is a company focused on relationships – with team members, trade partners, capital providers, land owners and homeowners. These relationships will allow The New Home Company to create great neighborhoods with a focus on emerging technologies, sustainable design, architectural excellence, and a deep knowledge of lifestyle trends and what diverse groups of homebuyers value most, said Webb.
“We will hire the best employees in demographically strong local markets,” explained Webb. “These individuals will be empowered to identify market niches that reward us for thoughtful, creative architecture, land planning and design. We strive to create world-class customer relationships through our sales, design center and customer care processes.”
High design standards, with a personal approach not often expected from production builders, is a guiding principle for The New Home Company. Redwitz is a licensed architect and has long been regarded as a leader in new-home design.
“Our approach to design at The New Home Company is an extension of our belief that a home should be, as much as possible, an expression of the lives lived within it,” said Redwitz. “It is central to our devotion toward achieving personal satisfaction for homeowners.”
The New Home Company stresses several factors for acquiring land and building new communities. “We will pursue unique opportunities to acquire existing residential lots, as well as larger entitled and unentitled properties, primarily in California in supply-constrained locations identified for continued growth,” said Joe Davis, Partner and Executive Vice President of The New Home Company.
According to Davis, The New Home Company will consider acting as a fee-builder of projects where there are locations or features unique to the region and where the relationship with the owner enables the company to use its broad resources to influence all aspects of the design, marketing and quality of the community. A limited number of large-scale masterplanned communities will be created to provide opportunities for the company’s homebuilding operations, as well as those of other specifically designated homebuilding entities with which The New Home Company has continuing relationships.
At Carmel, The New Home Company offers two-story detached homes that blend indoor and outdoor living with open floorplans and front and rear yards. Expanded kitchens are ideal for gourmet cooking, while home organization and launch areas add efficiency to family life. Downstairs master suites are featured in select designs and private in-suite baths enhance secondary bedrooms.
Four classic architectural styles add charming exterior character, and Carmel is convenient to the extensive amenities of Woodbury in the Villages of Irvine. The homes range from 2,616 square feet to 2,846 square feet and prices begin from the low $900,000s.
In March, The New Home Company will break ground at its second neighborhood, a collection of 76 single-family residences in Elk Grove, California. The homes will range from 1,800 to 2,300 square feet.
About The New Home Company The New Home Company is determined to bring fresh, bold ideas and innovative solutions to homebuyers and the homebuilding industry. The New Home Company’s mission is to take product design, craftsmanship and relationship-building to the next level.
The four founders, each industry legends, have won scores of accolades during their tenures at some of the premier homebuilding and land development companies in the country. These include numerous Builder of the Year awards, and scores of design awards from regional and national organizations.
For more information, visit www.TheNewHomeCompany.com or visit the company on Facebook.
Paolucci Communication Arts | Public Relations
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Larry Webb, Partner & CEO
With nearly 30 years experience in residential building, Webb has led award-winning organizations throughout the United States. Between 1995 and 2008, he was Chief Executive Officer of John Laing Homes. During that period, he was involved in growing Laing from a small, two-market company to the second-largest private homebuilder in the United States. Along the way, Laing became a model for customer service and employee satisfaction within the homebuilding industry. Prior to joining John Laing Homes, he was Division President for Orange, Riverside and San Bernardino Counties for Kaufman & Broad, as well as Orange County President of Greystone Homes. Most recently, Webb was appointed Chief Restructuring Officer for LandSource and successfully negotiated a work-out plan of large land-holdings across the United States.
Wayne Stelmar, Partner & CFO
Stelmar has more than 25 years of home building experience in Southern California. In 1998, he joined John Laing Homes as CFO. His primary duties involved the oversight of the finance, accounting and financial reporting, treasury and risk management functions. Additionally, he served as a member of the Company's Land Review Committee and was significantly involved in strategic planning. In June 2001, he was involved in the management buyout of Laing plc and Whitehall and in June 2006, the sale of the company. Prior to joining John Laing Homes, he served as CFO of Watt Residential Partners. He has also worked with various CPA firms including: E&Y, Kenneth Leventhal & Company, and Grant Thornton.
Joe Davis, Partner & Executive Vice President
Until retiring in the fall of 2007, Joe served as President of Irvine Community Development Company (ICDC) for more than a decade. ICDC is responsible for the planning, entitlement, development, and marketing of all master planned communities owned by The Irvine Company on the Irvine Ranch, Orange County, California. During his more than 35 years in the real estate development business, he held senior management positions at Amfac, Inc., Watt Group, Inc., and Chevron Land and Development, Inc. overseeing residential and commercial construction, and land development activities throughout Southern California.
Tom Redwitz, Partner & President Southern California
Redwitz is a Southern California homebuilding professional with more than 25 years of experience in real estate entitlement, development, architecture and construction. He served as the President of Laing Luxury Homes, a division of John Laing Homes. Under his leadership, Laing Luxury had grown to more than 100 employees. As a licensed architect, Redwitz is known as a leader in new home design and has been recognized with multiple industry awards. Redwitz served as Division President for Taylor Woodrow for six years and worked nearly 10 years for The Irvine Company.