ALISO VIEJO, CA—Locally based homebuilder the New Home Co. has hired A.J. Jarvis as president of its Southern California division. Jarvis is moving from his position as president of the company's land subsidiary to president Southern California, where he will oversee the planning, development and implementation of all the company's communities in the region.
Jarvis' executive move occurs shortly after New Home became a publicly traded company. The firm announced its initial public offering on January 31 and is now trading stock on the New York Stock Exchange under the symbol “NWHM.”
Jarvis has been with New Home since the firm's inception in 2009. His homebuilding experience ranges from single-family detached to multifamily podium and Type I high-rise properties, and his projects have accounted for more than 70 national architectural and land-planning awards.
Before joining New Home, Jarvis served as VP of land acquisition for EJL Homes. He has also held executive positions with Lang Luxury and Taylor Woodrow Homes of Southern California.
According to Tom Redwitz, COO of New Home, “As we continue our strategic expansion, it is important that our organizational structure evolve as well. A.J.'s experience and skill in design, planning and financial analysis will ensure that we are building the best homes on schedule and within budget. His leadership and passion for what we do will serve us well as we continue to grow.”
As GlobeSt.com reported in January, the firm, which builds and sells homes in metropolitan California, plans to raise $125 million in its IPO. It will offer 7.8 million shares at an expected price range of $15-$17 per share, in hopes of hitting a market value of $265 million, according to investment website seekingalpha.com.
New Home is focused particularly on coastal Southern California, the San Francisco Bay Area, and metro Sacramento. The firm creates both stand-alone and master-planned communities, developed by third parties, and builds homes designed for a wide variety of customers; prices range from approximately $300,000 to $3.2 million.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
