KB Home (NYSE:KBH), Los Angeles, on Thursday said it had agreed to purchase 664 home sites near Riverside and San Bernardino from the Lewis Group of Companies.
The land purchase includes 174 home sites at the Shady Trails master plan in North Fontana and 490 home sites that will comprise a new master plan called The Enclave, which is located adjacent to KB’s Alpine at Willow Ranch community in Eastvale. No purchase price was disclosed.
KB said it plans to introduce eight new communities to the master plans, with openings later this year. The communities will feature new designs from KB’s Open Series, its “Built to Order,” energy-efficient and affordably priced line of homes.
“Our relationship with the Lewis Group of Companies spans more than 20 years and we are pleased to be working with them once again on this significant land purchase for KB Home,” said Steve Ruffner, president of KB’s Southern California division. “This is an exciting opportunity for both organizations, and for area homebuyers who will soon have a broad array of new floor plans from The Open Series to choose from in these highly desirable locations in Southern California.”
“KB Home has a strong history of delivering quality and value to homebuyers and our two organizations have worked well together throughout the years,” said Randall Lewis, executive vice-president, Lewis Operating Corp. “We look forward to seeing KB Home bring these beautiful new neighborhoods to fruition, including a brand new master plan in Eastvale.”
Learn more about markets featured in this article: Los Angeles, CA, Riverside, CA.
