Monday, November 07, 2005

KB Home looks downtown for condo project

This now makes two of the largest home builders in the country eyeing downtown for high-density projects. First DR Horton with the Libarary Lofts on I Street, now KB Homes.

If we have corporate national developers in the mix for high density downtown projects, this bolds well for long term prospects. Plus, they are loaded!!

They wouldn't be jumping into the mix if there wasn't any substance in the urban movement for Sacramento

There is defiantly a movement throughout out the country that is reverting back to the urban living. Over the last few decades families tended to flee to the suburbs, that trend is starting to reverse itself.

Giant builder KB Home has jumped into the high-rise condominium game, targeting downtown Sacramento for one or more projects.

KB has announced the creation of a high-density and mixed-use division, KB Urban, that will focus on mid- and high-rise downtown projects, said Jeff Gault, the division's president.

Gault said he will focus first on the Los Angeles area, then move on to Orange County, San Diego and the San Francisco and Sacramento areas. By next fall, he expects to be operating in Sacramento, looking for downtown sites for condos that would sell units at $400,000 to $800,000.

The projects would mix the housing with retail and possibly offices and hotels.

Click for more readings:

No comments: