KB Home and Martha Stewart Living Omnimedia Build Community in the Rolling Hills of Georgia
Martha Stewart-Designed Homes to Be Built in South Fulton County
LOS ANGELES and NEW YORK, April 12 -- KB Home
(NYSE: KBH) and Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) today
announced plans for their second community. KB Home Hampton Oaks: Created
with Martha Stewart will be built just outside of Atlanta, Georgia. The
community, located along the banks of the Chattahoochee River in South
Fulton County, is scheduled to open this summer and will feature
approximately 800 homes spanning 480 acres, more than one third of which
are rolling hills.
This is the second community created by one of the nation's leading
builders in partnership with the unrivaled expert on taste, style and
design. The first community, KB Home Twin Lakes: Created with Martha
Stewart, was unveiled March 12, 2006, in Cary, North Carolina. Twin Lakes,
which will feature 650 homes, received nearly 3,500 visitors during the
opening weekend.
"Within a few weeks of offering the homes in Cary we sold all the lots
we could sell in the grand opening phase," said Bruce Karatz, chief
executive of KB Home. "This initial response from consumers shows that KB
Home builds what people want to buy. We are changing the way homes are
bought and sold in America and we firmly believe this momentum will
continue into South Fulton County."
The Hampton Oaks community will offer homes ranging in size from 1,800
square feet to 4,600 square feet. The homes are priced from the low $200s
to the low $400s. Like the Twin Lakes community, the exterior of the
Hampton Oaks homes will have characteristics from Martha Stewart's homes in
New York State and Maine. Martha's influence is present in the interior of
the homes as well, with specialized flooring, bathroom and kitchen
fixtures, lighting, paint colors, cabinetry selections and other special
touches such as distinctive mantles, shelving, molding and wainscoting.
The KB Home Hampton Oaks: Created with Martha Stewart community is
situated in the rolling terrain of South Fulton County. It includes nature
trails and communal gardens, taking full advantage of the area's beautiful
natural surroundings. Members of the community can enjoy tennis at the four
tennis courts, take a dip in the 2,500 square foot pool or relax at the
handsomely appointed club house. Landscaping packages designed by Martha's
personal gardener are also available to KB Home homebuyers.
"Atlanta is a dynamic and fast growing city with a very diverse
population," stated Martha Stewart, MSLO Founder. "We are very excited
about participating in this growth by providing a new community of
beautifully designed and sensibly appointed and affordably priced homes in
partnership with KB Home. This development of tasteful homes, set in a
gorgeous area famous for its rolling hills, will be extremely appealing."
"We are excited to offer our homebuyers the opportunity to own a dream
home inspired by an icon of design and built by a quality and reputable
homebuilder," said Larry Lippincott, president of the KB Home Atlanta
division. "South Fulton County provides a perfect setting for these
one-of-a-kind homes. The area offers a magnificent countryside setting with
convenient access to great restaurants and cultural hotspots in downtown
Atlanta and to the Hartsfield-Jackson Atlanta International Airport."
Model homes are scheduled to be completed in early summer 2006. At that
time prospective buyers will be able to view the model homes and select
their favorite home site and floor plan. They will then visit the KB Home
Studio where they will choose from over 5,000 design options to customize
their new homes. Although homes do not come furnished, the models will be
dressed and decorated with Martha Stewart Living Omnimedia products.
The Rolling Hills of South Fulton County
South Fulton County is an untapped area of nearly 125,000 acres,
featuring rolling fields along the banks of the Chattahoochee River.
The KB Home Hampton Oaks: Created with Martha Stewart community is
situated just minutes away from popular destinations including Atlanta's
downtown, midtown and Buckhead areas. The convenient Camp Creek Marketplace
features 100 different shops and restaurants. South Fulton is home to an
award-winning school system with elite private and religious schools
nearby.
About KB Home
Building homes for nearly half a century, KB Home is one of America's
premier homebuilders with domestic operating divisions in some of the
fastest-growing regions and states: West Coast-California;
Southwest-Arizona, Nevada and New Mexico; Central-Colorado, Illinois,
Indiana, Louisiana and Texas; and Southeast-Florida, Georgia, Maryland,
North Carolina, South Carolina and Virginia. Kaufman & Broad S.A., the
Company's publicly-traded French subsidiary, is one of the leading
homebuilders in France. In fiscal 2005, the Company delivered homes to
37,140 families in the United States and France. KB Home also offers
complete mortgage services through Countrywide KB Home Loans, a joint
venture with Countrywide Financial Corporation. Founded in 1957, and ranked
the #1 homebuilder in Fortune Magazine's 2006 List of America's Most
Admired Companies, KB Home is a Fortune 500 company listed on the New York
Stock Exchange under the ticker symbol "KBH." For more information about
any of KB Home's new home communities, call 888-KB-HOMES or visit
http://www.kbhome.com.
About Martha Stewart Living Omnimedia, Inc.
Martha Stewart Living Omnimedia, Inc. (MSLO) is a leading provider of
original "how-to" information, inspiring and engaging consumers with unique
lifestyle content and high-quality products. MSLO is organized into four
business segments: Publishing, Broadcasting, Merchandising, and
Internet/Direct Commerce. Martha Stewart Living Omnimedia, Inc. is listed
on the New York Stock Exchange under the ticker symbol MSO.
For more information contact:
Lindsay Stephenson with KB Home
310-231-4147
lstephenson@kbhome.com
Elizabeth Estroff with Martha Stewart Living Omnimedia
212-389-4444
eestroff@marthastewart.com
Samantha Schabel / Nicole Sutliff at Susan Magrino Agency for MSLO
212-957-3005
sam@smapr.com or nicole@smapr.com
