Residents Mad Over KB Homes' Latest Plan
Shortchanged and shafted, that's pretty much sums up how many folks are feeling in the neighborhood of Stablewood farms. For years, homes in the Cypress sub-division sold for $150,000 or more. But plans by KB Home to build dozens of low cost so-called "starter" homes has angered existing residents. "They've changed deed restrictions to meet their needs," says resident Monique Raab.

Residents Mad Over KB Homes' Latest Plan
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GREG GROOGAN
Shortchanged and shafted, that's pretty much sums up how many folks are feeling in the neighborhood of Stablewood farms.

For years, homes in the Cypress sub-division sold for $150,000 or more.

But plans by KB Home to build dozens of low cost so-called "starter" homes has angered existing residents.

"They've changed deed restrictions to meet their needs," says resident Monique Raab.

Residents like Raab say the smaller, less expensive houses in the neighborhood will reduce property values already devastated by the sour economy.

"They are paying half of what I paid," says resident Ashley Wagner. "We are hoping to stop them from buiding more of what they've already built."

KB home recently reduced the size of lots in an undeveloped section of Stablewood Farms to accommodate the smaller homes.

The company claims it will allow no house smaller than 1400 square feet. Residents believe some units will be 1000 square feet.

"We feel betrayed," says Raab, who claims KB assured residents that new construction would be consistent in price and quality with existing structures.

"We will continue gathering feedback and working with current homeowners," says KB spokesperson Cara Kane who concedes the builder is responding to growing demand from first time home buyers with limited income.

Those buyers are eligible for a $9,000 federal tax benefit orchestrated by the Obama administration.

Harris County Commissioner Steve Radack described the KB Home decision "terrible, but probably legal".

He fears other Houston area developers will soon follow the builder's example.

http://www.myfoxhouston.com/dpp/news/consumer/090521_kb_homes_move