KB Home (NYSE:KBH) has acquired Mason Ranch, an attractively positioned 330-acre land asset in Cedar Park/Leander West, one of the most desired submarkets in metropolitan Austin. The builder intends to develop a master planned community on the property with 1,019 homesites. Terms of the purchase agreement were not disclosed.
“Mason Ranch will be one of KB Home’s premier communities in the Austin metro area. Our vision for this master plan includes various types of our award-winning ENERGY STAR® qualified home designs built on beautiful winding roads through a family-friendly neighborhood,” said Ken Langston, president of KB Home’s Central Texas division. “Acquiring this land means we can bring that vision to life and create a vibrant community in a first-rate location with exclusive amenities and direct access to North Lakeline Boulevard.”
Langston also cited Leander’s recognized public schools, wide variety of retail establishments and proximity to US-183 and US-183A tollway as three additional reasons why the Mason Ranch community is anticipated to be well-received by homebuyers and considered a top development location in the Austin area. KB Home’s unique home designs with spacious and flexible floor plans will include features such as large master suite retreats, gourmet kitchen upgrades and rustic stone exteriors.
Each new KB home will be Built to Order™, which means homebuyers choose their home site and floor plan, which can then be customized to fit their lifestyle and taste. All finishing touches can be selected at the KB Home Studio, a retail-like design center showcasing choices available for flooring, cabinets, lighting and more.KB Home’s building of the Mason Ranch community will coincide with and also support Williamson County’s planned extension of North Lakeline Boulevard, a north/south arterial road, from East Crystal Falls Parkway to FM 2243 to improve transportation for area residents. Land development is slated to begin in early 2013, with model homes at Mason Ranch opening later in the year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV