Execs from New Home Co and Hillwood turned dirt last week at Meridian, an upmarket condo development on one of the last infill parcels near Fashion Island. (Those shovels look pretty clean to us.) The site used to be a tennis club that New Home and partner Hillwood--Ross Periot Jrs outfit, which recently opened an office in OC--bought late last year. New residential is pretty scarce in this part of OC, and with the demand for residential upespecially among those in the market for multimillion-dollar homes--New Home prez Tom Redwitz says he expects a strong reception for the property, which will feature 79 units in five buildings.
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