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New Home Co. Expands Pacific Northwest Footprint Into Washington

Friday, May 19, 2023

By: Leah Draffen

After announcing its move into Oregon in April, New Home Co.—No. 81 on the 2023 Builder 100—has continued its expansion into the Pacific Northwest with the opening of its Washington division. Founded in 2009, the Irvine, California-based home builder plans to build attainable homes near strong employment centers.

The first Washington neighborhood, to be developed in North Bend, is scheduled to break ground in June. The Rivercrest community will include a collection of 80 stacked flats with up to three bedrooms and up to two bathrooms. The eight residential buildings of 10 residences each will have up to eight single-car garages, each with a driveway to accommodate a second vehicle. While pricing has not be established, the homes are expected to be below the comparable market.

Rivercrest, located in the foothills of the Cascade Range, will be close to the employment centers of Bellevue, Redmond, and Kirkland, and is 30 miles east of Seattle. Residents will have convenient access to the 32-mile Snoqualmie Valley Trail, Tanner Landing Park, and the new Dahlgren Family Park.

“Every community we build in Washington will be in a desirable, well-established location that is close to jobs and where opportunities to offer homes at a compelling value exist,” says Brandon Scheibner, who will lead the Washington operations as division president. “We’re going to move fast, starting with construction at Rivercrest at North Bend where homes will be available in early 2024. We also expect to close on land transactions this year that will bring hundreds of more homes to the east side of Seattle in the next 12 to 18 months.”

Scheibner has nearly three decades of home building experience in the Pacific Northwest. Prior to New Home Co., he served as regional president of William Lyon Homes and was responsible for the development of single-family homes, townhomes, and mixed-use communities in Washington, Oregon, and California.

“Brandon has all of the strengths and market knowledge we need to be successful in Washington,” says Matthew R. Zaist, New Home Co. CEO. “His experience, relationships, and attention to detail will give us a leg up in securing land in the best locations and in delivering high-quality homes that the region needs.”

Read more here.

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