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KB Home Announces the Grand Opening of Its Greenwood Square Community in Van Nuys

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KB Home (NYSE:KBH) , one of the nation’s largest and most recognized homebuilders, today announced the grand opening of its Greenwood Square community in Van Nuys, offering Los Angeles-area homebuyers the rare opportunity to own a newly-built KB home in the heart of the San Fernando Valley. Conveniently situated on Sherman Way just minutes from the 405, 5, 101, 134 and 170 freeways, as well as Metrolink(R) stations and the Metro Orange Line, KB Home’s Greenwood Square combines the convenience of urban living in an established neighborhood with sophisticated home designs that are attractively priced from the low $400,000s.

KB homeowners at Greenwood Square will be able to take advantage of the community’s central location, closeness to major transportation routes and public transit stations for easy access to the many employers, entertainment venues, and cultural attractions throughout L.A. County.

“Few perks are as compelling to Los Angeles residents as the prospect of a convenient commute,” said Steve Ruffner, president of KB Home’s Southern California division and regional general manager. “Not only does Greenwood Square provide excellent access to L.A.’s major freeways and employers, the KB homes’ attractive price points present a fantastic opportunity for renters to become homeowners, with monthly payments that can be comparable to rental prices in the area.”

KB Home plans to construct a total of 128 row homes and four traditional single-story homes at Greenwood Square. The community’s four three-story floor plans range in size from 1,409 to 1,676 square feet, and include up to three bedrooms, three baths, and two-car garages. Priced from the low $400,000s, these KB homes will also feature open living spaces, built-in storage solutions, and Spanish or Craftsman facades.

An expansive one-story single-family floor plan is also available that can be built with up to four bedrooms, three-and-a-half baths, and a two-car garage. Pricing for this design begins in the low $700,000s.

Greenwood Square also features a community park with walking paths, benches and tot lot for residents to enjoy for years to come.

KB homes at Greenwood Square have been smartly-designed to be some of the most energy- and water-efficient available today. Resource-conserving features such as programmable thermostats, ENERGY STAR(R) certified appliances, and WaterSense labeled faucets and fixtures are all included as standard in Greenwood Square KB homes and can help lower utility bills for KB homeowners.

For example, KB Home estimates that at current residential electric rates, homeowners living in a 1,426 square foot home at Greenwood Square would save more than $1,000 annually in energy costs compared to a typical, similarly sized resale home.

KB Home’s Greenwood Square is now open in Van Nuys. For more information, 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 unique homebuilding approach lets each buyer customize their new home from lot location to floor plan and design features. As a leader in utilizing state-of-the-art sustainable building practices, all KB homes are highly energy efficient and meet strict ENERGY STAR(R) guidelines. This helps to lower monthly utility costs for homeowners, which the company demonstrates with its proprietary KB Home Energy Performance Guide(R) (EPG(R)). KB Home has been named an ENERGY STAR Partner of the Year Sustained Excellence Award winner for four straight years and a WaterSense(R) Partner of the Year for four consecutive years. A FORTUNE 1,000 company, 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.

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