The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

KB Home Opens “Awesome” New Solar Community in Valencia

<p class='bwalignc'> <b>Milan at West Hills offers homebuyers the chance to reduce their monthly cost of homeownership while living in “Awesometown”</b> </p>

Thursday, August 04, 2011

KB Home Opens “Awesome” New Solar Community in Valencia11:00 EDT Thursday, August 04, 2011 VALENCIA, Calif. (Business Wire) -- KB Home (NYSE: KBH), one of America's premier homebuilders, has just opened a truly “awesome” new home community in Valencia, California, otherwise known as “Awesometown.” KB Home's Milan at West Hills community is among the first in the area to offer solar power systems as a standard feature with all of its new homes. “In Southern California, Valencia is a desirable location that offers job opportunities and a host of amenities for its residents while still being a part of the greater Los Angeles area, and KB Home is excited to be opening its newest community here,” said Steve Ruffner, president of KB Home's Southern California division. “As part of an ongoing effort to help our homebuyers reduce their monthly energy bills and cost of homeownership for years to come, we're pleased to include solar power systems as a standard feature of the homes at Milan at West Hills.” The opening of Milan at West Hills further advances a larger KB Home initiative to provide solar power systems as a standard feature with more of its new homes. Milan is KB Home's ninth such community in Southern California and its third in the Santa Clarita Valley. When combined with the many additional energy-conserving features KB Home includes in all of its new homes across the country, these solar powered homes are among the most efficient new homes available on the market today. In addition, the included solar power systems could also help qualify homeowners for a federal tax credit. To illustrate the potential benefit of solar power systems and the many other energy-efficient features of its homes to consumers, KB Home includes its Energy Performance Guide™ (EPG) in all of its homes. The EPG provides an estimate of monthly electric and/or gas costs for each home as designed as well as valuable information on the home's relative energy efficiency when compared to a typical new home or resale home. For example, at KB Home's Milan at West Hills, a two-story 2,941 square foot home with the standard 1.35 kW system included has an estimated electric and gas bill of $94 per month. Homebuyers can also upgrade the home's solar capacity and could reduce their estimated electric and gas bill to as little as $47 per month if they choose a 3.15kW system, the highest capacity system available. In comparison, according to the 2008 American Community Survey, a study performed by U.S. Census Bureau, Santa Clarita residents reported spending, on average, about $142 a month on gas and electric bills. The stylish two-story home designs available at Milan at West Hills offer between 2,941 to 4,028 square feet of living space with up to six bedrooms, four baths, and three-car tandem garages. Pricing starts in the low $500,000s. The master-planned community of Valencia, commonly referred to as ‘Awesometown,' lives up to its nickname by offering residents a live, work and play lifestyle in the heart of Los Angeles County. Residential areas are close to schools, shopping, dining and entertainment centers and are connected by a series of pedestrian friendly walkways called paseos. KB Home's new Milan community is within the gated village of West Hills and walking distance from Valencia's newest school, West Creek Academy. West Hills residents enjoy all of the benefits of living in Valencia as well as access to The Club at West Creek Recreation Center and two additional future private recreation centers all with community pools. 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. KB HomeCraig LeMessurier925-750-6237clemessurier@kbhome.com