KB Home and Martha Stewart Living Omnimedia Inc. will break ground Tuesday on the two companies' first joint community in the Houston area, while KB Home also began sales in its first new community in New Orleans since Hurricane Katrina.
In Katy, Texas, at Interstate 10 and FM 1463, KB Home WoodCreek Reserve: Homes Created with Martha Stewart will feature 244 homes inspired by Stewart's personal residences in Maine, Connecticut and New York.The homes will range in size from 2,600 square feet to 5,100 square feet and will be priced from the high $200,000s to the mid $500,000s.
The exterior of the homes will have design and structural characteristics from Stewart's personal residence. The interiors also will display Stewart's influence, featuring specialized flooring designs, cabinetry selections, kitchen and bath fixtures, lighting, mantles and moldings. The centerpiece of the community, which is scheduled to open this fall, is a 100-acre nature park that features a lake, soccer fields and nature trails that weave along the banks of Buffalo Bayou.
KB Home WoodCreek Reserve: Created with Martha Stewart is the third collaboration between Los Angeles-based KB Home (NYSE: KBH) and New York-based Martha Stewart Living Omnimedia (NYSE: MSO).
In New Orleans, KB Home is beginning sales in its new River Garden community where one house is complete and 11 more are under construction. KB Home says it is the only national homebuilder building houses and seeking permits in New Orleans.
River Garden is within minutes of downtown New Orleans, and the 73 homes in the neighborhood will be built in traditional New Orleans architecture. Of the homes, 58 will be market priced from the $300,000s and 15 will be designated "affordable" and priced by the Housing Authority of New Orleans. The company is also building 112 town homes priced at $150,000 in Guste Island, which is about a 30 minute drive from downtown New Orleans. KB expects to open the community for sales in late October and is currently also working on four other communities in Baton Rouge, La.