KB Home Acquires Lots for Exclusive New Community in Valencia

KB Home Acquires Lots for Exclusive New Community in Valencia

Built to Order™ homes in Charleston at River Village community introduce new larger floor plans and luxurious touches in an "awesome" location

SANTA CLARITA, Calif.--(BUSINESS WIRE)-- KB Home (NYS: KBH) , one of the nation's largest and most recognized homebuilders, and Newhall Land, a premier community planner in north Los Angeles County, today announced a land purchase agreement for a new home community within the highly desirable master-planned development of River Village in Valencia, which is also known as "Awesometown." KB Home acquired 54 finished lots from Newhall Land for a new community called Charleston at River Village. Model home construction is currently underway, with plans to open this new community to home shoppers in the spring.


"Recent activity in the market and our sell-out success at other communities in the area have proven there is a great demand for new homes here. The exciting new product we are introducing at Charleston reflect what our customer surveys tell us home shoppers are looking for: bigger homes with more bedrooms, state-of-the-art energy efficiency, higher-end options, and flexible floor plans that allow for personalization," said Tom DiPrima, executive vice president of KB Home's Southern California division. "We are pleased to once again expand our presence in Valencia and Santa Clarita. It is truly 'awesome' to be part of such a flourishing and highly desirable community, thanks to our strong relationship with Newhall Land."

The five two-story floor plans anticipated to be offered at Charleston at River Village include up to six bedrooms, four-and-a-half baths, and range in size from 3,413 to 4,511 square feet. Sun rooms, first-floor junior suites and large walk-in dual closets in the master bedroom are just some of the Built to Order options that will be available at Charleston at River Village.

Residents will also have access to River Village's exclusive amenities like recreation centers, parks, and trails along the Santa Clarita River. Families will be served by the highly-rated Saugus Unified School District. The community is also in close proximity to Metrolink stations and the I-5 freeway, making for an easy commute to major employment centers in the greater Ventura and Los Angeles metropolitan areas.

"KB Home has been a valuable partner in making the dream of homeownership a reality for residents wishing to live in the Valencia Masterplan," said Greg McWilliams, President of Newhall Land. "We hope Charleston at River Village is one of many opportunities we will have to once again collaborate with KB Home in the future."

Charleston at River Village will be one of 21 Southern California communities where KB Home includes solar power systems as a standard feature of all its new homes. The photovoltaic systems can help KB homeowners reduce their monthly energy bills and lower the overall cost of homeownership.

KB homes at Charleston at River Village will include a 1.8 kW solar power system at no additional cost to buyers. When combined with the standard energy-conserving features KB Home already includes to make all of its new homes ENERGY STAR® certified, the solar power homes at Charleston at River Village could help homeowners reduce their energy bills by up to nearly 70% when compared to a typical resale home. Home shoppers will also have the option to upgrade to a 2.25 kW or 3.15 kW solar power system to further increase their potential energy savings.

The community will be further distinguished from other new home communities and resale alternatives by KB Home's signature Built to Order homebuying experience that allows customers to choose their home's lot location, its floor plan, and many of its interior and exterior design features.

Charleston at River Village is scheduled to open in the spring. To learn more or to join a growing interest list, 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.

About Newhall Land

Newhall Land is a premier community planner in north Los Angeles County. Its primary activities are planning the communities of Valencia and Newhall Ranch, which together form one of the nation's most valuable landholdings, just 30 miles north of downtown Los Angeles.

Today, Valencia is a thriving community of business owners and homeowners alike that offers a way of life that is simply unmatched elsewhere. Valencia's 15,000 acres is home to over 60,000 jobs, 20,000 homes, 30 miles of paths called paseos, a thriving regional shopping mall, award winning schools and abundant parks and open space.

Newhall Land's next master planned community is Newhall Ranch, a 12,000-acre continuation of Valencia and approved for over 20,000 homes, 60,000 additional jobs and ten square miles of open space (more than 50 percent of its total area). Newhall Land is managed by FivePoint Communities, Inc, an independent real estate development company jointly owned by Emile Haddad and Lennar Homes of California, Inc.



KB Home
Craig LeMessurier, 925-983-4509
clemessurier@kbhome.com

KEYWORDS:   United States  North America  California

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