New Century Development completed its first ground-up residential development in 2007 at 2542–2500 Gundry Avenue, delivering a nine-home Italian-style single-family residential project in the City of Signal Hill, California.
Known as The Bellagio, this development represents the firm's foundational project—initiated and developed by Nady Hebish after immigrating to the United States from Egypt. This milestone marked the beginning of what would become a long-term real estate investment and development platform across Southern California.
Founding of the Platform
After arriving in the U.S., Nady Hebish began building a real estate business grounded in hands-on execution, disciplined underwriting, and long-term ownership. The Gundry Avenue project was his first ground-up development, requiring direct involvement across every stage of the development process:
- Site acquisition and due diligence
- Entitlement coordination with local agencies
- Architectural design and planning
- Construction management and delivery
Executing a new-construction residential project in a built-out coastal market presented significant technical, regulatory, and financial complexity—particularly for a first development. The successful completion of The Bellagio established the operating foundation and principles that continue to guide New Century Development today.
Project Overview
Completed in 2007, The Bellagio consists of nine detached single-family homes designed with Italian and Mediterranean architectural influences. The homes feature:
- Traditional stucco exteriors
- Classic tile roofing
- Cohesive façades complementing Southern California's residential vernacular
- A unified architectural identity across the development
The project was designed with an emphasis on durability, proportion, and neighborhood compatibility rather than short-term optimization—reflecting a long-term ownership mindset from inception.
Signal Hill Context
Signal Hill is a geographically distinct and fully built-out city surrounded by Long Beach. Historically recognized for its elevated terrain and early 20th-century oil production, by the mid-2000s opportunities for new single-family development were limited.
The Gundry Avenue site offered a rare opportunity to introduce new housing while respecting the scale and character of the surrounding area—requiring careful site planning and thoughtful integration into existing residential neighborhoods.
Legacy and Long-Term Impact
As New Century Development's first completed ground-up project, The Bellagio set the tone for the firm's future trajectory. The development demonstrated an ability to:
- Navigate complex entitlement processes
- Execute construction responsibly and on schedule
- Deliver design-driven residential projects in constrained urban environments
The experience gained through this project laid the groundwork for the firm's subsequent expansion into value-add multifamily, urban infill development, density additions, and environmentally complex redevelopment projects throughout Southern California—while remaining rooted in the principles established by its founder.