[plaster3]

Anybody curious about how the builders feel about the future of Inspirada?

Here is KB Home CEO Jeffrey T. Mezger's take:

"We continue to find investment opportunities in all of our markets that are aligned with our growth and product strategies and meet our financial hurdles. At the same time, we have many assets in our balance sheet that we continue to put to work. I'd like to tell you about one in particular. You may have seen the news out of Las Vegas regarding the Inspirada master plan, where the Henderson City Council approved our development agreement. We are working to complete the final steps in the approval and documentation process and are hopeful, a full resolution around the end of the year. It is our expectation that once Inspirada comes fully online, we can support 5 to 6 open communities and up to 400 deliveries per year going forward. Land values in Las Vegas have gone up significantly over the last few years, and Inspirada has become a real crown jewel for KB Home."

Regarding a question as to Inspirada's outlook in 2014:

"As to Inspirada, there's a few moving parts to it, as you know, and the development agreement applies to the villages, primarily, 3, 4, 5 and beyond. We do have assets in village 2 that are in the entitlement process that we intend to open up in 2014, hopefully in the spring, and we'll come right behind that as the development agreement turns into actual development on sites and all the builders are hopeful of getting communities opened later in the year in the ensuing villages beyond. So it's a pretty exciting development in a very land-constrained market, and we think it's an incredible opportunity for us now."


- All comments from KB Home 3rd Quarter Earnings Call Transcript (September 24th, 2013)

[icarian]

Plaster,

Thanks again for the current update. Come on new parks.

[tradewater]

Agreed! Thanks so much Plaster3... We always look forward to your posts!!

[plaster3]

Happy New Year!!

I just read that Pardee Homes is interested in developing 240 lots in Village 2, just north of the existing (and almost complete) KB Home development. The plans are preliminary, as the homebuilder is seeking City concurrence before initiating a purchase of the land, which was acquired by a prominent landholder when Woodside Homes filed for bankruptcy protection.

This is good news for Inspirada, as that land is currently not a part of the amended development agreement, and could have potentially remained vacant while the 2nd and 3rd villages (and their accompanying parks) began build out.

Let's hope this is the beginning of more great news throughout 2014!!

[skugelstadt]

Originally Posted by plaster3

Happy New Year!!

I just read that Pardee Homes is interested in developing 240 lots in Village 2, just north of the existing (and almost complete) KB Home development. The plans are preliminary, as the homebuilder is seeking City concurrence before initiating a purchase of the land, which was acquired by a prominent landholder when Woodside Homes filed for bankruptcy protection.

This is good news for Inspirada, as that land is currently not a part of the amended development agreement, and could have potentially remained vacant while the 2nd and 3rd villages (and their accompanying parks) began build out.

Let's hope this is the beginning of more great news throughout 2014!!

We drive by Inspirada on a regular basis. It's amazing how it has expanded from where it was a few years ago. When you say 240 lots, this means how many family units per lot?

[Brittmama]

I know that Inspirada is going to have their ground breaking ceremony this Saturday, but does anyone know when they are going to start building the parks and where they are going to start to build them at?

[plaster3]

@skugelstadt

I apologize if I misspoke; each lot will result in one family unit. These are single family residences planned.

@brittmama

The groundbreaking is specific to the parks, and will commence construction almost immediately after the groundbreaking. The first park will be a small neighborhood park just north of Village 1 (right in the middle of Village 1 and Village 2, where an elementary school is also planned. The second park will be similiar to the existing park, located along the median within Village 2. The large regional park that is expected within Villages 3 and 4 are forthcoming.

Hope that helps!

[skugelstadt]

Are you out there Plaster3? Lots of earth moving equipment behind Anthem Highlands (South of Bicentennial). This is not the school/park you mentioned is it? Anyone else know what is being built? Looks like a big project. Thanks

[xafpilot]

Is that built on an old toxic brown field? Needless to say, NEVER, NEVER, buy in an unfinished development. Buy near the end of construction so that you can see what will be around you in the coming years and will give a chance to check out potential neighbors.

[BBMW]

I'd take that one step further. Never buy a new construction house, unless you had it custom built under your control. If you buy from a tract builder, you're always going to be overpaying. Also, once a house is a couple years old, if there are problems, they'll manifest themselves before you buy.

Originally Posted by xafpilot

Is that built on an old toxic brown field? Needless to say, NEVER, NEVER, buy in an unfinished development. Buy near the end of construction so that you can see what will be around you in the coming years and will give a chance to check out potential neighbors.