search

The Real Deal Logo

Trending

Glossier founder is buyer of $22M Brooklyn townhouseGlossier founder is buyer of $22M Brooklyn townhouseHow Hochul played the “good cause eviction” game, and wonHow Hochul played the “good cause eviction” game, and wonLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aOffice upgrades, concessions to lure tenants add “killer” cost: Steven RothOffice upgrades, concessions to lure tenants add “killer” cost: Steven Roth
Los Angeles

LA’s KB Home reaches $23.5M settlement over construction defects

Jeff Mezger, CEO of KB Home
Jeff Mezger, CEO of KB Home

L.A.-based homebuilder KB Home has reached a $23.5 million settlement with the Florida attorney general’s office over allegations that it delivered homes to buyers that had construction problems and then denied requests to make necessary repairs, the Los Angeles Times reported.

Under the terms of the settlement, KB will have to make repairs to any Florida properties with construction defects that it’s built over the last 10 years. The company has already shelled out $71 million to repair Florida homes.

Sign Up for the undefined Newsletter

Affected homeowners are also slated to get a share of $6.5 million in restitutions.

In a statement, KB denied wrongdoing and said only that it had cooperated fully “to address issues with residential stucco performance, which we consider to be an industry-wide challenge in Florida.” [LAT]