KB Home acquires future home lots in California – Sacramento Business Journal

KB Home invested more than $35 million to acquire hundreds of lots in California's Sacramento region, where it plans to build new homes, the Sacramento Business Journal reported, citing records.

The homebuilder bought 166 lots in the Riolo Vineyards project in Placer County from Taylor Builders LLC, 85 lots on 11 acres in Elk Grove from the Vanderbeek family and an undisclosed number of lots on Watt Avenue in Antelope from Shizao Zheng and Caichun Ye.

KB Home plans to develop 55 Bartlett homes ranging from 2,000 to 2,600 square feet and 111 Cortland homes ranging from 1,400 to 2,300 square feet in the Riolo Vineyards site, with model construction expected to begin in the winter and the first homes to be delivered next summer, the company reportedly said in an emailed statement.

The company is working on land development for the Elk Grove site, where it plans to build three home types ranging from 1,850 to 2,100 square feet. Construction on that site is slated for next summer, with the homes to be available in 2023.

The Antelope lots form part of a 281-lot project called Lakes at Antelope, where county plans for the site show four villages on about 62 acres.

Bayless Properties Inc. brokered the deal with Taylor Builders and the Vanderbeek family. An email sent to a member of the Vanderbeek family was not returned, while Zheng and Ye could not be reached, according to the publication.