Market Overview

KB Home Announces the Grand Opening of Monterey Parque in Morgan Hill

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KB Home today announced the grand opening of Monterey Parque in Morgan
Hill. Offering easy access to U.S. Route 101 and the Morgan Hill
Caltrain® station, Monterey Parque is convenient to major employment
centers in San Jose and throughout Silicon Valley.

With the Santa Cruz mountain range to the west and the Diablo mountain
range to the east, Monterey Parque is distinguished by its picturesque
hillside setting. Nearby historic downtown Morgan Hill features boutique
shopping, public art displays, a year-round Farmers Market and
festivals. The Gilroy Premium Outlets® are only a short drive away, and
wine aficionados can enjoy the many wineries of Morgan Hill and San
Martin.

At Monterey Parque, KB Home plans to construct 52 townhomes and six
single-family detached homes. Homebuyers have a choice of:

  • Townhomes: Three different floor plans ranging in size from
    1,620 to 2,086 square feet with up to four bedrooms and
    three-and-a-half baths. Pricing begins in the mid-$600,000s.
  • Detached, single-family homes: Spacious 2,440 square feet with
    four bedrooms and three-and-half baths. Pricing begins in the
    $890,000s.

All the homes feature open floor plans, ample storage space, and two-car
garages. The KB homes at Monterey Parque can be further tailored to best
fit each homebuyer's individual tastes and budget at the KB Home Design
Studio.

Like all KB homes, those offered at Monterey Parque will be built to
ENERGY STAR® guidelines and include WaterSense® labeled faucets and
fixtures, meaning they are designed to be more energy- and
water-efficient than most other typical new and resale homes in the
area. The water- and energy-saving features built into every new KB home
can help homeowners save on their monthly utility bills.

The Monterey Parque sales office is now open at 18018 Monterey Road in
Morgan Hill. Interested homebuyers can view the elegantly-appointed
model homes Tuesday-Sunday from 10:00 a.m. to 6:00 p.m., or Mondays from
1:00 p.m. to 6:00 p.m. For more information on this community or KB
Home's other Bay Area communities, please visit www.kbhome.com
or call 888-KB-HOMES.

About KB Home

KB Home (NYSE:KBH) is one of the largest and most recognized
homebuilders in the United States and an industry leader in
sustainability, building innovative and highly energy- and
water-efficient new homes. Founded in 1957 and the first homebuilder
listed on the New York Stock Exchange, the Company has built nearly
600,000 homes for families from coast to coast. Distinguished by its
personalized homebuilding approach, KB Home lets each buyer choose their
lot location, floor plan, décor choices, design features and other
special touches that matter most to them. To learn more about KB Home,
call 888-KB-HOMES, visit www.kbhome.com
or connect on Facebook.com/KBHome
or Twitter.com/KBHome.

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