The Brand New Orleans: KB Home Opens First New Residential Community Since Katrina

Located within minutes of downtown New Orleans, the seventy-threehomes will all be built in traditional New Orleans architecture.Fifty-eight of the homes will be market priced (from the $300s) and 15of the homes will be designated "affordable" and priced by the HousingAuthority of New Orleans.

"I believe that our effort in New Orleans is a small step in therebuild and recovery of this great American city. I hope that thepeople of New Orleans find our homes in River Garden to be beautiful.I know they will be of high quality," said KB Home Chairman and CEOBruce Karatz.

This unique community offers single family and attached homesfeaturing 12 floor plans from 1,257 to 2,305 square feet priced fromthe low $300s. New homeowners will be across from a city park, haveviews of downtown New Orleans, and be walking distance to the MagazineStreet shopping district and Warehouse and Arts district.

"This community also serves as an example of the first concreteresidential development coming back to New Orleans. One of themotivations for us eight months ago to announce that we were going tobuild in New Orleans is that we knew housing was one of the mainproblems facing the city. We had hoped, and continue to hope, that ourefforts there will serve as a catalyst for other builders to come toNew Orleans and help the rebuild," Karatz added.

KB Home is also building town homes in Guste Island about a thirtyminute drive from downtown. This community will have 112 town homespriced at $150K. The company expects to open this community for salesin late October. Four other communities are also underway in BatonRouge, LA.

For more information contact Caroline Shaw at (310) 231-4165,cshaw@kbhome.com.