KB HOME ANNOUNCES MAJOR LAND PURCHASE IN EASTVALE
New Community significantly increases KB Home’s Inland Empire market share
EASTVALE, CA – August 23, 2013 – (RealEstateRama) — KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, today announced it has acquired 40 acres of land in Eastvale, Calif. from Irvine-based Stratham Communities. WD Land had the exclusive listing and represented both parties in the transaction. Located at the northwest corner of Limonite and Cleveland Avenues, KB Home plans to build 207 Built to Order™ homes at the site, currently named Cleveland Square, and has the option to purchase an additional 143 homesites at the community.
KB Home is already one of the Inland Empire’s most active homebuilders, with more than a dozen communities open for new home sales today. Most recently, KB Home debuted four new neighborhoods during the first weekend of August alone ? Cantata at The Preserve in Chino, Parkside in Ontario, The Pinnacle at Roripaugh Ranch in Temecula and Sequoia at Monument Park in Perris.
“KB Home is not only one of the Inland Empire’s premier homebuilders, we also pride ourselves on being one of the area’s first-choice land buyers,” said Chris Haines, president of KB Home’s Inland Empire division. “Our strong relationships with local land sellers, like our colleagues at Stratham Communities and WD Land, give KB Home unique and exceptional opportunities to offer our homes in some of Riverside County’s most sought-after submarkets.”
“Eastvale continues to have a sound track record for strong home sales and has become one of the most desirable markets in the Inland Empire,” said Les Whittlesey, a founding principal at WD Land. “KB Home’s purchase demonstrates the company’s aggressive strategic actions to further advance its leading position in meeting the needs of homebuyers in the Eastvale market.”
KB Home plans to break ground on the new community this spring, where it will offer potential homeowners three collections of homes and extensive neighborhood amenities.
KB Home will build 125 single-family homes in one collection, featuring three floor plans ranging from 1,552 to 1,985 square feet, with distinguishing design details like spacious great rooms, outdoor patios, and an optional first floor bedroom suite.
A second collection of 123 homes with three floor plans available ranging from 1,829 to 2,334 square feet will include up to five bedrooms and incorporate customizable elements, allowing for plenty of personalization.
KB Home’s third selection of 102 homes is the largest planned for this community, offering four floor plans between 2,443 and 3,367 square feet and up to five bedrooms
Community amenities will include three beautiful parks with tot lots for children, basketball and tennis courts, picnic areas, open green space and a dog park. There will also be a central recreation area that features a 3,123 square foot clubhouse with a Junior Olympic pool, spa, children’s pool, BBQ and lounge area with a fire pit.
The property is served by the acclaimed Corona-Norco Unified School District, and offers convenient access to shopping, restaurants, outdoor recreation and parks.
For more information about KB Home communities in California or elsewhere, visit www.kbhome.com, or call 888-KB-HOMES.
About KB Home
KB Home is one of the largest and most recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million quality homes. KB Home’s signature Built to Order™ approach lets each buyer customize their new home from lot location to floor plan and design features. In addition to meeting strict ENERGY STAR® guidelines, all KB homes are highly energy efficient to help lower monthly utility costs for homeowners, which the company demonstrates with its proprietary KB Home Energy Performance Guide® (EPG®). A leader in utilizing state-of-the-art sustainable building practices, KB Home was named the #1 Green Homebuilder in the most recent study by Calvert Investments and the #1 Homebuilder on FORTUNE magazine’s 2011 World’s Most Admired Companies list. Los Angeles-based KB Home was the first homebuilder listed on the New York Stock Exchange, and trades under the ticker symbol “KBH.” For more information about KB Home’s new home communities, call 888-KB-HOMES or visit www.kbhome.com.
Craig LeMessurier, KB Home