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by CareyBot

KB Home today announced the creation of a new high-density and mixed-use division that will operate under the name KB Urban. KB Home, which delivered 31,646 homes in 2004 and is expected to deliver more than 38,000 this year, also announced it has named veteran real estate executive Jeffrey Gault as president of the new division. The addition of KB Urban will enable the company to add mid- and high-rise products to KB Home's portfolio, offering the style and comfort of its traditional homes in a new and convenient urban setting. "We have experienced tremendous success with the expansion of our product diversification, including the introduction of attached homes," said KB Home Chairman and Chief Executive Officer Bruce Karatz. "KB Urban will offer high-density housing opportunities whe...