KB Home Announces Plans for New Community in Sunnyvale

SUNNYVALE, Calif.--(BUSINESS WIRE)--

KB Home KBH, one of the nation's largest and most recognized homebuilders, today announced it has acquired property in the highly-desirable city of Sunnyvale, Calif. for a new community of 47 contemporary single-story, stacked flat condominium homes called Solaire. Model home construction is currently underway, with a grand opening scheduled to take place this fall. Situated in the heart of the Silicon Valley, the new KB Home community will offer homebuyers excellent access to Sunnyvale's, and the greater Bay Area's, thriving businesses, distinguished schools, and prize-winning parks and recreation facilities.

The purchase of Solaire in Sunnyvale represents the latest in a series of strategic acquisitions for KB Home throughout the region. Most recently, KB Home announced it acquired land for more than 500 single-family homes at Patterson Ranch in Fremont, purchased property for its luxurious Bush Street and 72 Townsend sites in the City of San Francisco, and introduced several multifamily collections at its Berryessa Crossing communities in San Jose. Already one of the Bay Area's most active homebuilders, KB Home has enjoyed many years of success building single-family, high-density, mid-rise, and condominium home communities, and is currently open for new home sales at 14 area locations.

“KB Home continues to actively grow our Bay Area business by acquiring prime parcels in highly-desirable, land-constrained locations like Sunnyvale, where homebuyers want to live and where opportunities for new homeownership are rare,” said Chris Apostolopoulos, regional general manager for KB Home's Northern California operations and president of KB Home's Bay Area division. “With its dynamic business environment, proximity to the greater Bay Area's major employers, and low housing inventory levels, few areas are hotter than Sunnyvale, and we look forward to building a vibrant new community at Solaire.”

Situated just northwest of San Jose, Sunnyvale is already home to some of the most respected names in the technology, aerospace and defense industries, putting KB homeowners at Solaire close to such major employers as Cisco, Google, Yahoo!, Maxim Integrated Products, Juniper Networks, Lockheed Martin, Honeywell, Northrop Grumman Electric Systems, and more.

KB Home's Solaire will provide convenient access to the 101, Interstate 280, 237 and 85. Public transportation will be readily available at Solaire via the Santa Clara Transportation Authority and the Caltrain commuter rail—which has two stops in Sunnyvale.

When Solaire's residents are ready for dining out and entertainment, they can choose from a number of shopping and dining destinations nearby, including the historic Murphy Avenue district. The area features abundant outdoor recreational opportunities, with plenty of parks, public golf courses, and open spaces for residents to enjoy year round. Additionally, Santa Cruz and its beautiful beaches, famed boardwalk, and majestic mountains are all just a short drive away.

For more information about KB Home's communities in Northern California and elsewhere, 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 unique homebuilding 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 an ENERGY STAR Partner of the Year Sustained Excellence Award winner for four straight years and a WaterSense® Partner of the Year for three consecutive years. A FORTUNE 1,000 company, 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.