Earlier today, Cisneros and Kaufman and Broad announced the creation of a joint venture - American CityVista - to develop communities of quality, single-family homes in many of the nation's major metropolitan areas. American CityVista will have offices in Los Angeles and in San Antonio and will target areas ripe for 'infill' development that have been overlooked by major homebuilders in the past.
"Henry Cisneros is an extremely well-respected, dynamic individual who brings to Kaufman and Broad a tremendous amount of knowledge about the housing needs of our country," said Bruce Karatz, chairman and chief executive officer of Kaufman and Broad. "When Henry chose to begin a new phase in his career, he had countless options available to him. His decision to focus on broadening access to homeownership for all Americans is a noble goal that is shared by Kaufman and Broad."
Cisneros served as president of Univision Communications since 1997, a time of tremendous growth in both ratings and profitability.
Prior to that, he spent five years as secretary of the U.S. Department of Housing and Urban Development. As a member of the President's Cabinet, Cisneros worked to reduce homelessness in America, set an agenda to increase homeownership and created programs to revive economically downtrodden communities throughout the nation. He is widely recognized as one of America's foremost federal housing and economic development proponents.
Cisneros has a longstanding career in the public sector, including serving as the first Hispanic mayor of a major U.S. city when he was elected mayor of San Antonio in 1981. As a four-term mayor, Cisneros rebuilt the city's economic base through recruiting convention business, attracting high-tech industries, expanding housing opportunities, increasing tourism and creating jobs in downtown San Antonio.
Cisneros graduated from Texas A&M with both a Bachelor of Arts and Master of Arts degrees in urban and regional planning. He earned a Master of Arts in public administration from the John F. Kennedy School of Government at Harvard and a Ph.D. in public administration from George Washington University.
Kaufman and Broad Home Corporation is one of America's premier homebuilders with operating divisions in Arizona, California, Colorado, Nevada, New Mexico and Texas. Kaufman & Broad S.A., the Company's majority-owned subsidiary, is one of the largest homebuilders in France. In 1999, the Company delivered homes to 22,460 families in the U.S. and in France. It also operates a full-service mortgage company for the convenience of its buyers. Founded in 1957, Kaufman and Broad is a Fortune 500 Company listed on the New York Stock Exchange under the ticker symbol "KBH."
For More Information Contact:
Kate Mulhearn
(310) 231-4015
kmulhearn@kbhome.com