KB Home (NYSE:KBH) recently acquired 75 acres of land at Texas Research Park (TRP). Located along the Highway 211 corridor in far Northwest Bexar County, this land is expected to accommodate 234 new single family homes. The community is expected to be opened in early 2017.
Hidden Canyons will be the first residential community in the TRP neighborhood. Hidden Canyons will feature two home design collections. The community will include a community park with a pool, a picnic pavilion and a children’s playground.
KB Home intends to build two model communities in TRP called Hidden Canyons and Hidden Bluffs, each of which will feature energy-efficient home designs.
This marks KB Home’s largest land acquisition in San Antonio. Earlier in 2016, the company had unveiled several new communities in the region including The Ridge at Bandera, The Heights at Northeast Crossing, and Misiones. The company intends to open two more communities, Dove Creek and Copano Ridge later in 2016.
With the prospect of strong housing recovery in 2016, primarily on the back of job and income growth, economic recovery, improving consumer confidence, moderating home price gains, and affordable interest rates, most homebuilders are seeking to strengthen their position. KB Home consistently aims to boost its community count in the highly favorable submarkets as part of its growth strategy.
KB Home carries a Zacks Rank #3 (Hold).
Stocks to Consider
Better-ranked stocks in the construction sector include Masco Corporation (NYSE:MAS) , NVR, Inc. (NYSE:NVR) and GCP Applied Technologies Inc. (NYSE:GCP) . All three companies have a Zacks Rank #2 (Buy).
MASCO (MAS): Free Stock Analysis Report
KB HOME (KBH): Free Stock Analysis Report
NVR INC (NVR): Free Stock Analysis Report
GCP APPLIED TEC (GCP): Free Stock Analysis Report
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