Industry News

KB Home launches new Mid-Atlantic Division

Builder plans to open five residential communities in 2006

KB Home has established a Mid-Atlantic Division in a move to expand into the rapidly growing Washington, D.C.-area housing market, the company said today. KB Home's entry into Maryland and Virginia brings the number of markets in which KB Home builds to 39. The company's previous eastern U.S. presence includes divisions throughout Florida, Georgia, North Carolina and South Carolina. The company plans to open five communities in this region in 2006. "We are establishing operations in the Washington, D.C., area because of its vibrant job and population growth, and the communities surrounding our nation's capital are still some the most desirable areas to live in the country," said KB Home Chairman and CEO Bruce Karatz. The division's first community, Martin's Chase, will be located in Loudoun County, Va., and will feature approximately 147 single-family homes. KB Home will begin sales in Martin's Chase in early 2006. Additionally, KB Home is teaming up with Centex to build 2,000...