Another national homebuilder announces move to Boise market, secures 1,100 home sites
Boise’s booming home market is no longer a secret. Homebuilders are rushing to meet a recent increase in demand. KB Home, one of the largest homebuilders in the country, announced plans on Thursday to become the latest national builder to enter the local market.
KB Home is the fifth-largest homebuilder by closings and seventh-largest by revenue. In 2020, the company closed on 11,871 homes and made more than $4 billion in revenue, according to Builder Online.
KB Home has spent the past 10 months working to secure rights to sites on which it can build. The Los Angeles company now owns or controls more than 1,100 sites and “is moving aggressively to acquire additional land in the area,” according to a news release.
Those homes will be part of new subdivisions that KB Home is planning.
The first will be the 200-home community of Graycliff in South Meridian, southwest of the Meridian Road and Victory Road intersection. Buyers will be able to purchase homes in spring 2022, and home deliveries will start in the fall. Prices are likely to range from $400,000 to $600,000.
Two Nampa subdivisions will begin moving forward at the end of 2022, the company said.
KB is working to acquire additional homes in Nampa, Kuna and Caldwell.
Thomas Coleman has been named KB Home’s new Idaho Division president. Coleman, who has lived in Boise for 17 years, started Coleman Homes, which was sold to Toll Brothers in 2016. He then worked for Toll Brothers before joining KB Home in February. Coleman said his familiarity with the area allowed the company to get a “jump start” on the market.
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“What makes KB unique is its committed focus on the customer,” Coleman said by phone. “And, candidly, that’s what drew me to joining KB.”
KB Home will have a design studio and custom homes at its Meridian community to help buyers choose customized features.
“They’re going to pick their finishes for their cabinetry and flooring,” Coleman said. “They can choose energy-efficient features, water-saving features. So it’s a process that we guide them through.”
The publicly traded company has built more than 650,000 homes across the country. KB says it has received more energy awards from Energy Star Market Awards, which measure energy efficiency in construction, than any other homebuilder.
Other national homebuilders in the Boise area are Lennar, which entered the market in October; and Toll Brothers, which entered the market in 2016. Both are working to build large new subdivisions in the Treasure Valley.
Sally Krutzig covers Treasure Valley growth and development. Have a story suggestion or a question? Email Krutzig at skrutzig@idahostatesman.com.
