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KBH's Luxury Building in San Francisco

Zacks Equity Research

Calif.-based homebuilder, KB Home (KBH), recently announced that it has begun the construction of a new mid-rise luxury condo building at 72 Townsend in San Francisco’s highly-desirable South Beach/SOMA district.

The condo building, which will include condominiums, penthouses and one exclusive townhome, is scheduled for a summer 2014 opening. The 74 residences in this nine-story condo building will provide sweeping Bay views, concierge services, outdoor living spaces and other exclusive first-class amenities.

Each unit, ranging between 810 and 2,859 square feet, will comprise up to three bedrooms and two-and-a-half baths. The homes have been built with KB Home’s ‘Built to Order’ model which allows the buyers to personalize their homes.

The condo building will be just blocks away from San Francisco’s entertainment and business hub. It will also be very close to the iconic city landmarks, like AT&T Park and the Embarcadero.

KB Home is actively selling new homes throughout the Bay Area and 72 Townsend, which marks further expansion of its Bay Area operations. KB Home has built many mid-rise, condominium and townhome-style communities in the region, including Vicino at San Jose’s Santana Row, The Preserve in Redwood Shores, Laterra in Hayward and Monte Vista in San Jose.

Last week KB Home launched two communities – Katy Oaks Preserve and Katy Oaks Estates – in Katy, Texas.

KB Home carries a Zacks Rank #3 (Hold). Other homebuilders that are currently doing well include Standard Pacific Corp. (SPF) and Beazer Homes USA Inc. (BZH). Both the companies carry a Zacks Rank #1 (Strong Buy). Among the building products companies, Masco Corp. (MAS) is worth mentioning which carries a Zacks Rank #2 (Buy).

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