Newport Beach-based The New House by RSI and the Buena Park Redevelopment Agency on Tuesday broke ground on a new affordable housing project in the city.
RSI Buena Park 9, which will include nine single-family detached homes ranging from 1,585 to 1,968 square feet, is a result of a public-private partnership between the homebuilder and the city's redevelopment agency. The collaboration reduces the need for government aid and allows The New House to provide homes priced below market value, according to the company, which hopes to launch other public-private partnerships in the future.
“We are very grateful for the opportunity to use our unique building capabilities to provide work force families with affordable, high-quality single family homes in Buena Park,” said David Hendryx, vice president of infill development for The New House.
The homebuilder plans to use its "precision-build" construction program during the site's development, which includes efficient manufacturing techniques to lower costs, eliminate waste and improve the quality of the homes.
“We have invested millions of dollars and four years of research and development to create a process that makes it possible to build sustainable, efficient and quality homes at prices our work force can afford," said Founding Chairman and CEO Ronald Simon.
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