After a decade of planning, city officials and community thought leaders today joined representatives from The New Home Company (NEW HOME; NYSE: NWHM) for a groundbreaking ceremony to mark the start of construction on The Cannery in Davis, Calif. The highly anticipated community is taking shape on the former Hunt-Wesson tomato cannery facility at E. Covell Boulevard and J Street, near the center of downtown Davis.
Viewed as a model of innovative design and sustainable living with a plan that is the first of this scale in Davis in more than 20 years, The Cannery will include 547 homes and affordable apartments with energy efficient and Livable Design™ features built into every residence, a 15-acre mixed-use area and an approximately 7.4-acre urban farm. As California’s first farm-to-table new-home community, The Cannery will provide the homes, restaurants and local neighbors with fresh seasonal produce. The Cannery Farm will serve as a state-of-the-art example of sustainable urban farming and as an agri-classroom for students and beginning farmers.
“We’ve worked extremely hard with staff at the City of Davis and many of our neighbors to make The Cannery a reality and we feel fortunate to have acquired such a special piece of land here,” said NEW HOME President Northern California, Kevin Carson. “To get to this point after many years of thoughtful planning is a real milestone for The New Home Company and the City of Davis.”
The Cannery was approved by the Davis City Council in November of 2013. In addition to the array of homes that will be offered in the neighborhood, The Cannery has been designed with alternative modes of transportation in mind. NEW HOME has integrated design components that prioritize pedestrians, bicycles, electric vehicles and public transportation. A transit station in the southern portion of The Cannery has been designed as an outdoor gathering space with easy access to the neighborhood’s retail experience and will feature covered bicycle parking and dedicated places to use and charge personal electronic devices.
In addition, NEW HOME has dedicated millions of dollars to the City of Davis for community enhancements that include safe transportation, parks and the city’s bicycle and trail system.
“We, like so many in the City of Davis, have very high expectations for The Cannery,” said Carson. “With these expectations comes a tremendous amount of responsibility to deliver the one-of-a-kind community that The Cannery is envisioned to be. We want everyone to know that building thoughtfully designed communities is what The New Home Company does best. And we know that when all is said and done, The Cannery will be an asset that the City of Davis and all of its residents will be proud of.”
NEW HOME expects grading of The Cannery property to be completed this summer. Upon completion of grading, a number of site improvements will be made in anticipation of the start of home construction in spring 2015. The timeline for the grand opening of The Cannery will be established once construction of the homes begins.
NEW HOME, one of California’s most active homebuilders, recently became a publicly traded company. It launched its initial public offering on January 31, 2014 and is now trading stock on the New York Stock Exchange under the symbol “NWHM.”
For more information and to receive regular updates on the progress of The Cannery, please visit LiveCanneryDavis.com.
