Los Angeles-based residential construction firm Kaufman and Broad Home Corp. said Monday it has opened a new Utah operating division in Midvale to serve the Salt Lake market.
Said to be the largest home builder in the western United States and among the largest in Paris, France, Kaufman and Broad of Utah Inc. is the company's 15th division, with 11 in California and one each in Arizona, Colorado and Nevada."With the fastest-growing job market in the U.S. and an increasing demand for quality, afford-ably priced housing, we believe the Utah market represents an excellent opportunity for Kaufman and Broad," said Bruce Karatz, chairman and chief executive officer.
Michael C. McGee, most recently head of K&B's Central Valley Division in Modesto, Calif., will head the Utah operation, which has located in the Union Park Center in Midvale. McGee grew up in northern New Mexico and graduated from Brigham Young University in 1973.
A spokesman said the company has four properties under contract in the Salt Lake Valley, where it plans to begin building this fall. He would not name the four but believed to be included among them are the Centennial master-planned community in Draper and the planned Wheatridge subdivision in West Jordan.
The company has been expanding aggressively in the West, launching the Arizona and Colorado operations last year. In Arizona, where K&B has five new home communities, Karatz said the company has quickly become one of the largest home builders in the state.
"As we've seen with our recent expansions, our ability to quickly establish ourselves in new markets has been integral to our success," said Karatz. "We believe the same attributes that have enabled us to become California's largest home builder will also enable us to establish a significant presence in the Utah market."
The company spokesman said K&B's in-house architects specialize in innovative home designs, noting that the company has won 70 industry awards for design excellence over the past six years and was recently cited by the Phoenix Housing Market letter for bringing to the area "a fresh approach to design in the sea of sameness."
McGee said the continued strength forecast for Utah's economy should keep housing demand high.
"All of us at Kaufman and Broad are very excited to establish an active presence in Utah and look forward to serving the needs of area homebuyers for years to come."