VALENCIA, Calif.--(BUSINESS WIRE)--KB Home (NYSE: KBH), one of America’s premier homebuilders, and Newhall Land today announced a land purchase agreement in the prestigious West Hills Village in Valencia, California. KB Home has acquired 43 finished lots from Newhall Land and will begin construction on a new community at the site in late June.
The energy-efficient homes built by KB Home in West Hills will include solar power systems as a standard feature, helping homeowners to reduce their monthly energy bills and cost of homeownership for years to come, while also benefiting the environment. KB Home recently announced plans to open 10 communities across Southern California in which all of the homes will be built with photovoltaic solar systems.
“KB Home has a strong relationship with Newhall Land and we are pleased to be working with them again in Valencia, one of the most-desirable submarkets in the greater Los Angeles area,” said Steve Ruffner, president of KB Home’s Southern California division. “We look forward to introducing area buyers to our Built to Order™ approach, and to offering some of the most energy-efficient homes on the market today, with solar power systems included in every home as a standard feature at this and many more of our new home communities throughout Southern California.”
“KB Home will be a great partner for us as we continue developing West Hills, a beautiful village in Valencia,” said Marlee Lauffer, vice president of marketing and communications for Newhall Land. “We appreciate the value and quality KB Home delivers to its homebuyers, and we hope this is one of many opportunities we have to work together in the future.”
KB Home’s new community will offer home shoppers three new energy-efficient floor plans ranging from 2,941 to 3,646 square feet with up to six bedrooms, four baths, and three-car tandem garages. Each new home will be Built to Order™, which means homebuyers choose their home site and floor plan, which can then be customized to fit their lifestyle and taste. Options include various elevation styles, as well as structural changes such as converting multipurpose spaces to additional bedrooms, or adding a covered patio to enhance outdoor living spaces. Buyers then decide on finishing touches at the KB Home Studio, a retail-like design center showcasing choices available for flooring, cabinets, lighting and more.
All new KB Home communities feature ENERGY STAR® qualified homes, along with the exclusive new KB Home Energy Performance Guide™ (EPG). Similar to the miles per gallon rating or MPG, which reflects fuel efficiency and is standard when purchasing a new car, the KB Home EPG informs prospective buyers about the relative energy efficiency of a KB home versus a typical new or resale home, and provides them with an estimated dollar amount for the monthly electric and/or gas energy costs for the home as designed. For the first time, KB Home can project for homebuyers the potential financial benefit of owning an energy-efficient KB home based on data provided by independent third-party consultants. The KB Home EPGs for the homes at the new community in Valencia will reflect the additional energy efficiency provided by the solar power systems.
About KB Home
KB Home (NYSE: KBH), one of the nation's premier homebuilders, has delivered over half a million quality homes for families since its founding in 1957. The Los Angeles-based company is distinguished by its Built to Order™ homebuilding approach that puts a custom home experience within reach of its customers at an affordable price. KB Home has been named the #1 Green Homebuilder in a study by Calvert Investments and the #1 Homebuilder on FORTUNE magazine’s 2011 World’s Most Admired Companies list. The Company trades under the ticker symbol "KBH" and was the first homebuilder listed on the New York Stock Exchange. For more information about any of 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 Corporation.