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KB Home Expands Its Jacksonville Presence By Over 70 Percent In 2013

Stocks in this article: KBH

KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, today announced that it has purchased lots for two new communities in the Jacksonville, Fla. market, Angora Bay in Orange Park and Whitmore Oaks in Mandarin, the latest in a series of significant acquisitions executed by the builder in northeast Florida this year. Including the 178 homesites gained by KB Home in the Angora Bay and Whitmore Oaks transactions, KB Home has increased the number of lots it owns or controls in northeast Florida by over 70 percent from one year ago, accumulating more than 900 lots in popular submarkets like Orange Park, Mandarin and South Duval County in 2013 alone.

KB Home has been building in Jacksonville for over a decade and is already one of the area’s most active homebuilders, with 10 KB Home communities currently open for new home sales. Most recently, KB Home debuted its Residences at Wynnfield Lakes community in Jacksonville and Westberry Manor in Mandarin.

“It’s been an exciting year for KB Home in Jacksonville, where the region’s dynamic economy offers plenty of potential for long-term growth. In 2013, we strategically pursued opportunities to expand our business and uniquely positioned KB Home to meet rising homebuyer demand for new homes,” said Todd Holder, president of KB Home’s Jacksonville division. “With the positive momentum we’ve established in Jacksonville this year, we’re looking forward to delivering the American dream of homeownership to many more Floridians well into 2014 and beyond.”

KB Home’s Whitmore Oaks community in Mandarin is scheduled to grand open in November, offering single-family homes between 2,003 and 3,555 square feet from the mid $200,000s.

KB Home plans to construct 98 single-family homes at Angora Bay in Orange Park between 1,865 to 3,181 square feet, with pricing anticipated to start in the high $100,000s.

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