The New Home Company (NEW HOME, NYSE: NWHM) announced today that construction is underway on 2.87 acres of land overlooking the San Francisco Bay in San Mateo, Calif., where it will build a limited collection of contemporary and view-oriented condominiums.
The community, called Tidelands, will offer homeowners a rare opportunity to live in the heart of the San Francisco Peninsula with easy access north to the city or south to Silicon Valley.
Tidelands will feature 76 contemporary, multi-story condominiums, offering views of the surrounding San Mateo wetlands, bay and city skyline from different floors. These modern residences will offer homeowners a rare chance at new-home construction in the Bay Area with close proximity to both the water and an urban lifestyle. In addition to a great climate, San Mateo boasts numerous parks making it easy to enjoy a healthy outdoor lifestyle.
Tidelands is situated on a waterfront enclave and the residences will feature contemporary townhome architecture, ranging from approximately 925 to 1,518 square feet of living space. Tidelands is anticipated to open in fall 2014 with prices expected to start from the low $800,000s.
“Securing waterfront property is the dream of every homebuilder, so we feel fortunate to have acquired such a special piece of land so close to the Bay here in San Mateo,” said Kevin Carson, NEW HOME President Northern California. “This is a market in need of attainably priced new homes. We’ve worked hard to create a land plan and thoughtfully designed homes that will meet this need. We expect to have great success with Tidelands once it opens and interested homebuyers have the opportunity to see all that it has to offer.”
Tidelands is located near the southwestern corner of Mariner’s Island Boulevard and East Third Avenue in San Mateo. Those interested in a new home at Tidelands are encouraged to visit www.TidelandsNWHM.com and sign up for the interest list to receive regular updates on the progress of the community.
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.”