KB Home (NYSE: 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.
Copyright Business Wire 2014