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KB Home plans 278 more homes in Santa Clarita

Posted: May 2, 2014 7:11 p.m.
Updated: May 2, 2014 7:11 p.m.
 

Builder KB Home is preparing to build 278 new homes in the Plum Canyon area of the Santa Clarita Valley, an executive with the company said Friday.

The home builder expects to open a sales office in June and have the first of the new homes ready by August.
The local market is “under supplied and over demanded,” said Tom DiPrima, president of the LA Ventura Division for KB Home.

“We’re really excited to stay in this market,” DiPrima said. “The company is very bullish on the Santa Clarita Valley. There is a lot of pent-up demand, strong job growth and you have the Disney Ranch coming.”

Disney ABC Studios’ expansion plans for the Golden Oak Ranch property in Placerita Canyon has been approved by Los Angeles County and is expected to create thousands of new jobs.

KB Home purchased the 278 Plum Canyon lots from Toll Brothers, who bought Shappell Homes — the builder who developed the area. The deal closed in February.

Two new single-family home communities — Canyon Heights and Canyon Crest — will offer homes ranging in size from 1,925 to 4,517 square feet.

The new homes will be designed for both first-time buyers and move-up buyers, DiPrima said. Prices are expected to start in the high $500,000 range.

Noting that KB Home is constructing homes in Playa Vista, on the west side of Los Angeles, that start at $1.2 million, DiPrima said Santa Clarita is still super affordable with a great quality of life.

DiPrima also noted two post-recession trends in the home market.

“The trend is to build larger homes again,” he said. “We continue every year to see a 10 to 15 percent increase in square footage.”

The other trend the home builder has noted is that young professionals saved their money, rather than jump into the home-buying market, during the recession; thus they have larger down payments available, DiPrima said.

While lending is little more challenging today than in the past, the price point for KB Home’s new homes still qualify for FHA loans, he said.

Like other KB Home residences built in the Santa Clarita Valley, these new homes will all be built using energy- and water-saving components, including solar power as a standard feature of each home. Those features will be included in the base price of the home.

Interiors will have open floor plans and large great rooms for gathering or entertaining. Depending on the model, homes will be one or two levels and have up to six bedrooms and five and a half bathrooms. Some have three-car garages.

The new homes will fall into the Saugus Union School District.

KB Home expects to be building in Plum Canyon for years to come, according to its president, Steve Ruffner.

“At KB Home we feel this is a great market both now and long term,” DiPrima said. “We’re happy to build and invest in the area.”

jana@signalscv.com
661-287-5599

 

 

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