KB Home (NYSE: KBH), one of the nation's largest and most recognized homebuilders, is pleased to introduce the distinct new home community of Alcantara Villas in the north Phoenix neighborhood of Paradise Valley Village. Located at the corner of Tatum and Greenway Boulevards, KB Home's Alcantara Villas is just minutes from Paradise Valley's world-class resorts and beautiful natural landscape.

Indoor and outdoor recreation is readily accessible to residents of Alcantara Villas, with the fashionable Kierland Commons, Paradise Valley Mall, Desert Ridge and Phoenix Mountain Preserve all just minutes away. KB homeowners at Alcantara Villas can also enjoy close proximity to downtown Phoenix and the city of Scottsdale, and the many employment, leisure, and cultural opportunities they offer.

KB Home's Alcantara Villas community is planned as a unique enclave of 127 upscale homes centrally located close to everything in the Valley of the Sun, and served by the highly-rated Paradise Valley Unified School District, consistently ranked as one of the best in Phoenix.

Alcantara Villas joins seven other KB Home communities currently open for new home sales in the greater Phoenix area, including Coldwater in Peoria, Greer Ranch in Surprise, Main Street Casitas in Mesa, Sid Lomas in Avondale and Sage at Desert Passage in Maricopa.

"Home buyers are drawn to Phoenix and the Paradise Valley area for its convenience and outdoor lifestyle and now KB homeowners will have the enviable opportunity to call it home," said Shawn Chlarson, president of KB Home's Arizona division. "With the community's great location and KB Home's experience in building quality, energy-efficient homes, designed to their unique specifications, we expect Alcantara Villas will be well-received by area homebuyers."

There are four two-story floor plans available at KB Home's Alcantara Villas, ranging between 1,965 and 2,768 square feet, with up to five bedrooms and three baths. Because all KB homes are Built to Order TM, home shoppers will be able to choose many of their home's features, including the number of bedrooms and baths, décor choices like cabinetry and lighting, and even the latest technological enhancements like built-in audio and USB outlets. Prices are anticipated to start in the low $300,000s.

All new homes at Alcantara Villas are ENERGY STAR® certified for construction and design features that save on utility costs. Homeowners can save even more on their energy bills with the Wiser home energy management system standard in all new KB homes that enables homeowners to monitor and control their energy usage remotely from a wireless device.

The model homes at KB Home's Alcantara Villas are now open for viewing at 4736 East Tierra Buena Lane in Paradise Valley. For more information about KB Home's Alcantara Villas community, visit www.kbhome.com or call 888-KB-HOMES.

About KB Home

KB Home is one of the largest and most recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million quality homes. KB Home's signature Built to Order TM approach lets each buyer customize their new home from lot location to floor plan and design features. In addition to meeting strict ENERGY STAR® guidelines, all KB homes are highly energy efficient to help lower monthly utility costs for homeowners, which the company demonstrates with its proprietary KB Home Energy Performance Guide® (EPG®). A leader in utilizing state-of-the-art sustainable building practices, KB Home was named the #1 Green Homebuilder in the most recent study by Calvert Investments and the #1 Homebuilder on FORTUNE magazine's 2011 World's Most Admired Companies list. Los Angeles-based KB Home was the first homebuilder listed on the New York Stock Exchange, and trades under the ticker symbol "KBH." For more information about KB Home's new home communities, call 888-KB-HOMES or visit www.kbhome.com.

KB Home
Craig LeMessurier, 925-983-4509
clemessurier@kbhome.com