Los Angeles-based KB Home has acquired the 330-acre Mason Ranch in Cedar Park/Leander West near Austin to develop a master-planned community with 1,019 lots.

"Acquiring this land means we can bring that vision to life and create a vibrant community in a first-rate location with exclusive amenities and direct access to North Lakeline Boulevard," said Ken Langston, president of KB Home’s Central Texas division.

Langston said Mason Ranch's proximity to the tollway and US Hwy. 183 will make it a top development spot in the Austin area.