JONATHAN JAFFE
Chief Operating Officer, President
Lennar Corp.
Irvine
Born in New York
Age: 59
Lives in Laguna Beach (Emerald Bay)
WHY: Top local executive for largest U.S. homebuilder, valued at $16.5 billion, with big presence in Orange County.
HOW: Has spent more than 30 years at Miami-based Lennar, which runs a large portion of its day-to-day operations from its new hub at Irvine’s Five Point Gateway. Led the company’s expansion into California in 1995, and is “responsible for Lennar’s dominant position in California and the Western United States,” the company notes. Worked with fellow OC 50’er Emile Haddad, then with Lennar, to buy land at former El Toro Marine Base in 2005, a $1 billion deal that’s the largest local real estate transaction in recent memory.
RECENT: Ties to OC grew with last year’s buy of Irvine-based CalAtlantic Group Inc., a $9.3 billion stock, debt and cash deal that vaulted Lennar past D.R. Horton as the country’s largest builder. Oversaw the integration of two companies, with an emphasis on establishing a more efficient building process for former CalAtlantic projects. Lennar has nearly 40% stake in Haddad’s master development firm FivePoint Holdings LLC and numerous housing projects in the area. Property records indicate Lennar is spending more than $120 million for future phases of Great Park development.
FAST FACT: Joined Lennar out of college.
QUOTABLE: Says OC’s housing market holding up, as “square footage [pricing] hasn’t reduced and price points remain at a higher overall level,” than what’s seen elsewhere in the country.
PERSONAL: Bachelor’s from University of Florida; graduate studies in architecture at Georgia Tech University. Wife, Karen, three sons. Serves on board of Lennar and FivePoint, which was spun off from the builder in 2009 and went public in 2017.
