The New Home Co., ranked 85th on the 2024 Builder 100 list, is developing a master-planned residential infill community with an expected economic benefit of more than $1 billion in Eastvale, California.
The home builder anticipates creating almost 2,000 homes through the transformation of 159 acres into the Eastvale Square community. The development will also produce a new civic center, new police and fire stations, a public library, and hundreds of thousands of square feet of office and lifestyle-focused retail space. The Eastvale Square community will be located next to the first-ever downtown district in Eastvale since incorporating in 2007.
The New Home Co. is actively under construction at Eastvale Square and plans to open an on-site sales gallery and begin phase one sales across the community’s first five neighborhoods in September. The builder plans to build all the residential for-sale homes in the community and will complete the infrastructure on the mixed-use neighborhoods before selling the sites to an apartment developer.
The New Home Co. will give 1.2 acres to the City of Eastvale for a new fire station and another 6.2 acres for the city hall, library, police station, and public park. The builder will sell the 11.8-acre commercial core in the master plan to the City of Eastvale.
The city will be responsible for the planning and development of the commercial and civic components, which will become integral elements of the new downtown district for Eastvale.
“Eastvale Square represents a new and progressive vision for the future in southern California,” Matthew Zaist, CEO of The New Home Co., says. “In terms of local-market share, capital investment, and overall importance to the future of the City of Eastvale, this is the most significant development we’ve ever done. We’re fortunate to have the capital and investment in our home building platform from funds managed by Apollo Global Management, who have been strong supporters of our growth trajectory over the last few years.”
