KB Home Announces the Grand Opening of Oakwood Manor in Mandarin

KB Home (NYSE: KBH) today announced the grand opening of Oakwood Manor,
its latest collection of new one- and two-story homes in the popular
Mandarin neighborhood of Jacksonville. Oakwood Manor is convenient to
San Jose Boulevard, a main thoroughfare that provides direct access to
downtown Jacksonville and West Beltway 295.

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New KB homes now available in Mandarin. (Photo: Business Wire)

Oakwood Manor residents will enjoy this quaint and quiet community that
is within walking distance of several conveniences, including grocery
stores, shopping and restaurants. The community is just minutes from the
St. Johns River, along which the Walter Jones Historic Park and the
Mandarin Museum and Historical Society are situated. Additionally,
Oakwood Manor is adjacent to Flynn Park, one of two locations where the
non-profit organization, Mandarin Sports Association of Jacksonville,
offers youth sports programs. The second, Albert Park, is less than a
mile away.

Oakwood Manor is currently one of the few new home construction
opportunities available in the Mandarin area and is zoned for the
highly-rated Mandarin High School. Residents at KB Home’s Oakwood Manor
may choose from the eight one- and two-story home designs available. The
homes, which all include a spacious two-car garage, large master suites,
expansive great rooms and rear patios, range in size from 1,769 to 3,016
square feet, with up to six bedrooms and three baths. Pricing begins in
the low-$270,000s, with no CDD fees.

As part of KB Home’s unique homebuilding experience, buyers at Oakwood
Manor can personalize many elements of their new home at the KB Home
Design Studio, a retail-like showroom, where they can work with KB
Home’s design professionals to create their dream home.

All the KB homes offered at Oakwood Manor will be built to current
ENERGY STAR® guidelines. These energy-saving features along with
WaterSense® labeled faucets and fixtures can potentially save homebuyers
money on their utility bills, as compared to other typical new and
resale homes in the area. Depending on the floor plan, the KB homes at
Oakwood Manor could save KB homeowners between $1,056 and $1,668 in
estimated annual energy costs.

The grand opening celebration weekend, during which attendees may tour
the model homes, will be held Saturday and Sunday, June 16-17 from 10:00
a.m. to 6:00 p.m. On Saturday from 11:00 a.m. to 3:00 p.m. there will be
family entertainment and What’s Smokin’ BBQ will be providing

The Oakwood Manor sales office is open every day by appointment only at
12206 Orange Grove Drive in Jacksonville. From Interstate 95 South, take
Exit 337/Interstate 295 North and exit San Jose Boulevard heading south.
Turn right on Orange Picker Road; the community will be on the left. For
more information about Oakwood Manor or KB Home’s other new home
neighborhoods, visit www.kbhome.com
or call 888-KB-HOMES.

About KB Home

KB Home (NYSE: KBH) is one of the largest homebuilders in the United
States, with more than 600,000 homes delivered since our founding in
1957. We operate in 35 markets in seven states, primarily serving
first-time and first move-up homebuyers, as well as active adults. We
are differentiated in offering customers the ability to personalize what
they value most in their home, from choosing their lot, floor plan, and
exterior, to selecting design and décor choices in our KB Home Studios.
In addition, we are an industry leader in sustainability, building
innovative and highly energy- and water-efficient homes. We invite you
to learn more about KB Home by visiting www.kbhome.com,
calling 888-KB-HOMES, or connecting with us on Facebook.com/KBHome or

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