KB Home (NYSE:KBH) has seen success with infill communities it opened in Houston in 2014. Now, it it poised to replicate them. The Houston Business Journal reports:
KB Home launched its first infill Houston community— Hollister Commons — in September 2014. Previously, the Los Angeles-based home builder had built affordable starter, move-up and move-down homes in the suburbs.
Hollister Commons, located on Hollister Street north of Hollister Square Court, features 44 single-family homes priced from the high $200,000s. After seeing strong sales in the 3.7-acre gated community, KB Home decided to launch two more similar communities in the Spring Branch area.
Cedar Brook, located near Bingle Road and Hammerly Boulevard, will feature 32 single-family homes that range in size from 1,663 square feet to 2,080 square feet and in price from $291,000 to $302,000. The gated community is set to open next month.
Villas at Spring Shadows, located near Gessner Road and Kempwood Drive, will feature 40 single-family homes. Details about the community have not been released yet, but the new community is expected to open this winter.
KB Homes has seen success among Millennial homebuyers, who want an affordable single-family home closer into the city, said Jim Harrison, president of KB Home’s Houston division.