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KB Home Acquires 100 Acres In Atascocita

KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, today announced that it has acquired nearly 100 acres for a new community called Lakewood Pines northeast of Houston in highly-desirable Atascocita. KB Home will begin land development later this year for over 300 homesites with model home construction expected by mid-2014. KB Home also has plans for future development of potentially more than 250 additional acres and up to 700 homesites adjacent to Lakewood Pines.

This latest acquisition shines a spotlight on KB Home’s remarkable growth and activity in the market, with this purchase marking its 20 th in the area over the past year, for a total of approximately 1,000 acres. The Lakewood Pines community will join more than 25 active KB Home communities in greater Houston that offer the builder’s signature Built to Order single-family homes.

“We are quite excited to begin development on this prime piece of property, and add to our collection of homes available for buyers in the Humble/Atascocita area,” said Jim Harrison, president of KB Home’s Houston division. “Our vision for Lakewood Pines is one of an exclusive and elegant yet friendly neighborhood, enhanced by the tremendous appeal of Lake Houston and its surrounding natural beauty that also offers its residents easy access to employment centers, the airport and local shopping and entertainment.”

Current plans for KB Home’s Lakewood Pines include various enclaves, with all residents being able to enjoy direct access to Lake Houston via a nature preserve space and hiking trails. Within a gated portion of the community, select homesites will offer lake views and others will be lakefront properties. Initial floor plan offerings will range in size from 2,000 to 4,000 square feet.

All KB homes at Lakewood Pines will be Built to Order providing buyers with the opportunity to customize their new home just the way they want it—from homesite selection to floor plan, fixtures and finishes. They will also be ENERGY STAR® certified and include WaterSense® labeled faucets and fixtures, providing homeowners peace of mind that their homes will be among the most energy- and water-efficient on the market and designed to save money on monthly utility bills compared to typical new or resale homes.

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