Beleaguered Home Builder Builds It Green

By Staff (Oct 15, 2009 )

The housing market may be down, but KB Home believes it found the incentive to get people to buy into its new project in North Haven, San Jose. The forty homes in the 14-acre, $30 million development will all be built according to strict "Build It Green" guidelines.

Chris Apostolopoulos, President of KB's Northern California Division, says that the additional cost is minimal, but the green rating supplied by Build It Green gives the homes a competitive advantage in a struggling market. At the same time, Berkeley-based Build It Green is hoping that this will provide the necessary inroad into other projects by the nation's fifth-largest homebuilder.

The project could also be a good PR move for KB, which is currently facing an SEC investigation into possible accounting and disclosure violations. The company is also faced with a debt of $1.8 billion, and market observers now claim that it is increasingly likely that it will default over the next few months.
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