KB Home plots out local plans for rest of 2023, 2024 after lot purchases

Homebuilder KB Home is expanding its presence in the Sacramento region going into 2024, including a project in a city where it hasn’t been active in over a decade.

Sacramento Division President Nam Joe said the company’s recent lot purchases in Antelope and Rancho Cordova are part of that move.

“We saw the opportunity to increase our footprint,” he said of the lot purchases, which were completed in August. “Overall, we’ve been very pleased with demand.”

Records show KB’s (NYSE: KBH) office in Roseville bought 57 lots for homes in Rancho Cordova, on Old Placerville Road near Bradshaw Road, and 145 lots for conventional single-family homes at 1025 Jessie Ave./4135 Dry Creek Road in Antelope.

The builder paid $8.86 million for the Antelope lots and $6.07 million for the Rancho Cordova lots. Joe said the Antelope project, Archer Estates, will have homes ranging from 1,500 to 2,700 square feet, both single-story and two-story.

Homes in that project should start becoming available in November 2024, Joe said. According to records, LPI JA1 LLC and LPH JA2 LLC were the sellers for those lots. Those entities have a Roseville address that appears to correspond to Evergreen Communities; a message left there Tuesday was not returned.

In Rancho Cordova, homes in the project called Westcott Station will range from 1,600 to 1,800 square feet and open in summer 2024, Joe said. That’s KB Home’s first project in that city since before 2013, he said.

Bradshaw Village Parc LLC is the seller for those lots. That entity has a Roseville address and got entitlements for a 57-home project on the same Old Placerville Road site, with plans to build in 2019.

A message left with a representative for Bradshaw Village Parc LLC was not returned.

Joe said KB Home has 21 local projects in various stages of development, seven of them breaking ground before year’s end. Five are in Elk Grove. There is also a complementary project to Archer Estates in Antelope, called Villas at The Preserve, and Aurora Heights, a project in Lincoln’s Twelve Bridges area for 217 alley-loaded homes.

Across those different projects, he said, prices will range from $250,000 to $750,000.

“Of course, we’re always looking,” Joe said. “But our land pipeline is pretty robust right now.”