Join        Login             Stock Quote

KB Home (KBH) Buys Land in Katy, Texas, For New Community

 November 30, 2012 12:16 PM

(By Balaseshan) KB Home (NYSE: KBH), a homebuilding company, said it purchased a 103-acre parcel of land in Katy, Texas, a western suburb of Houston.

The builder, distinguished by its built-to-order approach, will begin construction on model homes at the site, located off the Katy Freeway approximately one and a half miles west of FM 1463, early next year.

Los Angeles, California-based KB Home said its acquisition allows the homebuilder to add to its growing collection of new home communities in Katy.

KB Home is currently selling new homes in four communities in the city. Plans for this most recent acquisition include construction of about 275 built-to-order single family homes ranging in size from 2,000 to 4,000 square feet.

[Related -KB Home (KBH) Earnings Preview: Rising Rates Falling Stock]

With built-to-order, homebuyers can choose their lot location, the floor plan that goes on it and many of the design features included in it in order to get their new home built just the way they want it.

KB Home's newest Katy community will also include a recreation center with a resort-style pool, neighborhood parks and walking trails for residents' enjoyment.

"We're enthusiastic about continuing to be an active member of the Katy community and announcing our plans to bring more Built to Order home choices to buyers in one of the most desirable submarkets of Houston," said Jim Widner, regional president of KB Home.

The company constructs and sells homes through its operating divisions under the name KB Home. It operates in nine states and 32 markets, including California, Arizona, Nevada, Colorado, Texas, Florida, Maryland, North Carolina and Virginia.

[Related -KB Home (KBH) Q2 Earnings Preview: Business Trends Suggest Bullish Beat]

KBH is trading down 2.12 percent at $14.30 on Friday. The stock has been trading between $6.17 and $17.30 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageOld Bank's New Breakout has Big Rally Potential

One of my favorite things to see in a long candidate is a pattern of beating Wall Street's earnings read on...

article imageIs The Stock Market's 5-Year Return A Useful Proxy For Valuation?

Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg read on...

article image4 Dogs To Sell Immediately

Despite the chorus of analysts and investors calling for the long-awaited correction, the market is showing read on...

article imageThe Fed's Magical Mystery Tour

What's going on at the Fed? Notorious dove, Charles Evans of the Chicago Fed, gave a speech in read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.