KB Home Acquires Land for 276 New Homes in San Antonio's Far Northwest; Terms Undisclosed
KB Home (NYSE: KBH), one of the nation's largest and most recognized homebuilders, today announced it has purchased 78 acres along San Antonio's popular IH-10 corridor for a new community called Mirabel, where the builder plans to construct 276 Built to Order™ homes at the base of the Texas Hill Country. Development is scheduled to begin in September, with an official grand opening anticipated in spring of 2015.
Mirabel marks KB Home's return to San Antonio's Far Northwest, the highly-desirable submarket known for its rolling Hill Country terrain, abundant attractions, and top-rated schools. The well-situated parcel is just minutes from major employers, including the University of Texas San Antonio, Valero, NuStar, USAA, The Shops at La Conterra, The Rim and more. Mirabel, located on Old Fredericksburg and Ralph Fair roads, will also be a short drive to Northside ISD schools.
Mirabel is the latest in a series of land acquisitions for KB Home in Central Texas and underscores KB Home's continued commitment to growing and building its business in San Antonio. KB Home currently offers new homes for sale at 25 locations in San Antonio, Boerne, Cibolo and New Braunfels.
“We are excited to be back along the IH-10 corridor, and look forward to building a beautiful community among the heritage oak groves at Mirabel,” said Brett Dietz, president of KB Home's Central Texas division. “With the extensive community amenities, spacious lot sizes, and the popular home designs we plan to offer here, we believe Mirabel is poised to become one of our most popular projects when it opens next year.”
KB Home plans to offer four one-story and 12 two-story floor plans at Mirabel that will range in size from 2,004 to 4,094 square feet and feature up to five bedrooms and three baths. Ten of the floor plans will feature first-floor master bedrooms. Planned amenities at Mirabel include a community park and pool for residents' exclusive use.
All KB homes at Mirabel will be designed to ENERGY STAR® guidelines and include a host of energy- and water-efficient details. Standard features like WaterSense® labeled faucets and fixtures, a WiserTM home management system that allows homeowners to monitor and control their home's energy usage, as well as low-E windows, increased insulation, and radiant barrier roofing, can help lower utility bills for KB homeowners compared to older homes.
For more information about KB Home in San Antonio, 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. As a leader in utilizing state-of-the-art sustainable building practices, all KB homes are highly energy efficient and meet strict ENERGY STAR® guidelines. This helps to lower monthly utility costs for homeowners, which the company demonstrates with its proprietary KB Home Energy Performance Guide® (EPG®). KB Home has been named by the EPA as an ENERGY STAR Partner of the Year Sustained Excellence Award winner for four straight years and WaterSense® Partner of the Year for three consecutive years. 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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.