HOUSTON-Home builder KB Home reports it has purchased lots for several new communities in a number of Houston submarkets, including Anserra and Waterstone in Katy, Canterbury Park in Pearland, Tour 18 in Humble, and Wedgewood Falls in Conroe.
The acquisitions are the latest in a series of significant purchases by the Los Angeles-based developer in the Houston area. The company states that with the 909 home sites secured in the latest transactions, the company now has ownership or control of more than 3,600 lots in the greater Houston area. Its investments in 2013 represented a 414% increase over the number of lots it acquired the year before. No terms of the transactions were released.
KB Home has been building in Houston since 1999 and currently has new home communities open for sales at 21 Houston-area locations, with 10 new communities expected to open in the next several months. Most recently, KB Home debuted its Katy Oaks community in Katy, Tuscan Lakes in League City, and Klein Arbor in Houston.
“A combination of favorable economic factors and industries have made Houston one of the country's strongest housing markets, and we have strategically grown our footprint in 2013 to meet the region's rising demand for new homes,” states Jim Harrison, president of KB Home's Houston division. “The land and lots we've gained this past year will provide new homeownership opportunities for Houstonians into 2014 and beyond.”
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.