KB Home Opens New Orleans Community

Los Angeles-based KB Home has announced the beginning of sales in its first residential community in New Orleans.The company said it is the only national homebuilder currently building houses and seeking land permits in the hurricane-devastated Crescent City. The new community, called River Garden, is slated to include 73 homes, all to be built in traditional New Orleans architecture. Of the total, 58 will be sold at market prices and 15 will be designated as affordable and priced by the Housing Authority of New Orleans, KB Home said. KB Home and Countrywide Financial Corp., Calabasas, Calif., announced in June 2005 that Countrywide's main subsidiary, Countrywide Home Loans, was acquiring substantially all the assets of KB Home's mortgage subsidiary, KB Home Mortgage Co. The company can be found online at http://www.kbhome.com.