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New Home targets open space in urban areas for building
New Home targets open space in urban areas for building

A real estate meltdown might seem like a bad time to start a home-building operation. The four men who founded the New Home Co. in August 2009 had a different view even though the industry was still reeling from bad loans, shrinking bank credit, low housing prices and too many homes on the market. "We were starting from scratch," said H. Lawrence Webb, chief executive of the Aliso Viejo firm. "It was our own money. We got to handpick the best and brightest in the industry, and that's what we did." Company strategy was to "build in infill sites near jobs, where people wanted to live," Webb said. By infill, Webb means those rare pockets of open space in...

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