New Home Co. has announced its strategic expansion into Portland, Oregon.
This marks the company's first presence in the Pacific Northwest. The move reflects the company's commitment to strategic growth and scalable efficiency in building homes in the markets it serves.
Leading the Oregon operations as partner and president is veteran home building executive Fred Gast. Gast has over 20 years of experience in the field and was previously a principal partner and Oregon division president of Polygon Northwest until the company was acquired by William Lyon Homes in 2014. Following the acquisition, he continued to lead the Oregon division for three more years while doubling the size of the business.
During his career, Gast has developed four master-planned communities and thousands of homes, including an apartment portfolio of 2,000-plus units, townhomes, condominiums, and single-family. He is also responsible for numerous mixed-use apartment projects in California and Oregon.
“Fred has a passion for transforming underutilized land into beautiful places and spaces where people want to live their lives, which has been apparent in every community that he’s been a part of developing,” says New Home Co. CEO Matthew R. Zaist. “He brings with him a team of experts with decades of placemaking experience in Oregon, and we are proud to have him as a partner as we expand in the region.”
New Home Co.'s first two neighborhoods in Oregon are already underway. The company will offer two residential collections at Axiom, located in the master-planned community of River Terrace in Tigard.
The collections include townhomes and single-family residences. The townhomes will feature up to 1,592 square feet and are priced from the low $400,000s, while the single-family residences offer up to 2,712 square feet of living space and are priced from the high $500,000s.
In addition to the for-sale neighborhoods, New Home Co. will design and build the River Terrace Towne Center, which is expected to become the focal point of the master plan. The Towne Center will feature shops, restaurants, and specialty businesses, and will be surrounded by approximately 200 luxury rental apartments.
The Vineyard is also taking shape in Beaverton, alongside Cooper Mountain. The Vineyard will offer a mix of housing, including townhomes and single-family homes. The two- and three-bedroom townhomes range up to 1,588 square feet and are priced from the low $400,000s. The spacious single-family homes offer up to 2,935 square feet and are priced from the high $500,000s.
The Vineyard is located near the new Mountainside High School in the Beaverton School District. Homeowners also will be able to enjoy views of Mt. Hood and the Chehalem Mountains, as well as easy access to popular outdoor recreation and retail centers.
“Our focus in Oregon will be on opportunities in growth markets where we will be rewarded for exceptional community planning, creative architecture, and compelling value,” says Gast. “We will offer price points to serve every facet of the market, but, more important, we have a vision guided by a seasoned team of professionals with an entrepreneurial spirit whose mission is to design communities that are second to none.”