KB Home Finalizes Two New Land Acquisitions

KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, today announced that it has recently acquired land and finished lots yielding more than 700 new homesites along the growing IH-35 corridor northeast of San Antonio. Model home construction will begin immediately in Legend Point, a new community in New Braunfels. At the same time, KB Home will move forward with land development in Landmark Pointe off FM 1103 and Green Valley Road in Cibolo, with model home construction expected to begin by mid 2013.

“Few areas are hotter now than the northeast corridor, with its proximity to major employers and great school districts, and KB Home is excited about opening new home communities in this vibrant and attractive area,” said Brett Dietz, division president of KB Home in San Antonio. “Both Legend Point and Landmark Pointe will provide new homebuyers with unique one- and two-story floor plans along with the Energy Star efficiency and curb appeal that meet their expectations for quality and value.”

KB Home is under contract to purchase 80 finished and 420 undeveloped lots in Legend Point. When the community opens in February 2013, new home prices are expected to start in the $140,000s. The Legend Point community will eventually include a private amenity center with pool, covered picnic areas and a playground.

Land development is already underway at Landmark Pointe, with model homes slated to open during the summer of 2013. Pricing for new homes in Landmark Pointe is anticipated to start in the $150,000s.

All new KB homes in both communities will be ENERGY STAR® qualified and Built to Order. With KB Home’s Built to Order experience, homebuyers have their choice of homesite and floor plan, as well as aesthetic choices like flooring, cabinetry, faucets and fixtures. Select floor plans can also be customized to suit homebuyers’ differing needs. For instance, in some plans, a loft space can be utilized as a home office or entertainment nook, or can be converted into an additional bedroom and bath.

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