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Press release from Business Wire

KB Home Reveals Plans for New Community in San Antonio's Top Submarket

<p> <b>Latest land acquisition by national Built to Order™ builder yields new homeownership opportunity in desirable Bandera-Culebra West area</b> </p>

Wednesday, June 12, 2013

KB Home Reveals Plans for New Community in San Antonio's Top Submarket

09:00 EDT Wednesday, June 12, 2013

SAN ANTONIO (Business Wire) -- KB Home (NYSE:KBH), one of the nation's largest and most recognized homebuilders, today announced that it has acquired nearly 200 acres for a new community called CrossCreek located in San Antonio's highly-desirable Bandera-Culebra West submarket. KB Home plans to open this community in phases, with land development currently underway to release 100 homesites in 2013, and a second phase scheduled to be made available to home shoppers in early 2014. When all phases are complete as currently planned, the community will consist of approximately 600 homes, making CrossCreek the largest single land acquisition for KB Home in the San Antonio area since the mid-2000s.

KB Home has been aggressively capitalizing on land opportunities throughout San Antonio over the past two years. CrossCreek joins over 25 active KB Home communities in the San Antonio area. So far in 2013, the builder has opened new communities in New Braunfels, Converse and northeast San Antonio, and it is developing land in five existing communities.

“Our investment in CrossCreek reflects how bullish we feel about the San Antonio economy and housing market,” said Brett Dietz, president of KB Home's San Antonio division. “Northwest San Antonio is already highly-desirable for local homebuyers, and with CrossCreek essentially a ‘front door' to the Culebra corridor, we believe the community is well positioned to become one of our most popular in the region.”

Indeed, KB Home's CrossCreek is located within the top-rated Northside Independent School District, and is convenient to major roadways that connect the community to surrounding employers such as Lackland AFB, USAA, UTSA, and Valero, as well as a number of major call centers.

Home shoppers will have their choice of 12 home designs in CrossCreek's first phase, ranging in size from 1,516 to 2,960 square feet. In the second phase of development, KB Home expects to expand floor plan offerings with two new collections. A portion of the community will offer gas for heating and cooking. Planned amenities at CrossCreek include a children's playground and a community swimming pool. The community's model home park, to include two fully furnished home designs, is targeted to open in August.

All KB homes built at CrossCreek will be ENERGY STAR® certified and include WaterSense® labeled faucets and fixtures, providing homeowners peace of mind that their homes will be among the most energy-efficient on the market today and designed to save money on monthly utility bills compared to typical new or resale homes. San Antonio-area KB homes are also constructed to meet Build San Antonio Green's standards for increased energy efficiency.

To learn more about KB Home in San Antonio, 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 signature Built to Order™ approach lets each buyer customize their new home from lot location to floor plan and design features. In addition to meeting strict ENERGY STAR® guidelines, all KB homes are highly energy efficient to help lower monthly utility costs for homeowners, which the company demonstrates with its proprietary KB Home Energy Performance Guide® (EPG®). A leader in utilizing state-of-the-art sustainable building practices, KB Home was named the #1 Green Homebuilder in the most recent study by Calvert Investments and the #1 Homebuilder on FORTUNE magazine's 2011 World's Most Admired Companies list. 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.

KB Home
Cathy Teague, 210-415-6670
cteague@kbhome.com

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