REAL ESTATE
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Going independent: California Communities, once one of the largest home builders with headquarters in Orange County, has undergone a transformation.
The company, formerly a subsidiary of California Federal Bank, is an independent company: Meeker Development Co., named after President George R. Meeker Jr.
The change was made as part of a restructuring by Cal Fed, which will continue to act as a joint partner with Meeker in many of its projects.
While still known as California Communities, the company--with headquarters in Irvine--ranked as the state’s 33rd-largest builder, with $112 million in revenue during 1988.
It was No. 11 in the hierarchy of county-based builders, smaller than such giants as William Lyon Co. and Barratt American Inc., but larger than such well-known builders as Covington Development Group and Signature Homes.
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