By Kate Snyder
A residential developer has purchased another swath of land in the Puget Sound region. An entity affiliated with KB Homes, a homebuilder based in Los Angeles that operates throughout the United States, bought approximately 25 acres of land in Lake Stevens for $16.9 million, according to Snohomish County public records. The seller was an entity affiliated with Land Pro Group, Inc., another homebuilding firm based in Lake Stevens.
The land involved in the transaction was recorded as three parcels. Two of the parcels, each totaling about 10 acres, had addresses at 11927 and 12009 20th St. SE, and the third parcel, about five acres, was positioned adjacent to the other two but with an unknown address, county records show. The area is surrounded by single-family homes and more vacant land.
KB Home was originally founded in 1957 and has in recent years been an active developer in the Puget Sound area, according to the firm’s website. The company has multiple housing communities within its Washington portfolio, and is currently developing homes in a number of municipalities.
The firm recently purchased several parcels of vacant land in Auburn for $11 million, according to previous reporting from The Registry. The seller in that transaction was an entity affiliated with Lakeridge Development. The parcels total at least 12 acres, and much of the land is located in the northeast corner of the city, along SE 304th Street and 124th Avenue SE.
Last year, the firm spent $27.7 million on land along Sunset Blvd. E. in Puyallup. KB Home acquired two parcels in the deal. The seller of that property was an entity affiliated with Corliss Management Group, based in Lake Tapps. Combined, the properties totaled 49.9 acres in undeveloped land, although the area was already zoned for residential uses. The acreage included 162 lots.