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.
To learn more about KB Home and its communities throughout the Houston area, 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.