Hovnanian Enterprises, Inc. (NYSE:HOV) On Expansion Mode


Dallas, Texas 08/08/2014 (FINANCIALSTRENDS) – Hovnanian Enterprises, Inc. (NYSE:HOV), the branded home builder has in a press release announced that it is soon to commence community homes in Charleston, South Carolina. The new project will be in addition to its Charleston market presence with Hilton Head, in the market space touted to be 32nd big-sized housing market in the country, for brand new housing projects.

Hovnainan Reaches South Carolina

To be built as part of the K.Hovnanian Four Seasons ® at Lakes of Cane Bay, will have as a highlight advanced Lake System and Waterfront housing blocs. It will be part of the Cane Bay Plantation and will hold this project within the larger flow of plans. The plantation located about 30 minutes from Charleston, South Carolina is known to be 19th on the list of best-selling community properties in the country. The addition of Hovnanian project will see a new community which will be private gated community.

The community would adhere with highest green housing standards and include energy efficient homes across the entire 800 units.

Hovnanian Enterprises, Inc. (NYSE:HOV) which was begun back in the 1960’s operates from its Red Bank, New Jersey offices and has a footprint across most states in the US under the K.Hovnanian®Homes® as well as Brighton Homes, Oster Homes among others.

Chairman of the Board, President and Chief Executive Officer Hovnanian Enterprises, Inc. (NYSE:HOV) Ara Hovnanian, comments that, “We are extremely excited about the opportunity to build a K. Hovnanian’s® Four Seasons community in South Carolina.”

The CEO commented that the current distribution of people in South Carolina region, the focus of Hovnanian has been to offer products which meet the changing requirements of the new generation.

The location of Charleston, Hovnanian commented would allow beneficial growth opportunities for the company.

“Given the strong demographic trends, we have talked about expanding our active adult offering into new markets, and we believe we found a great location that will allow us to take advantage of the growth opportunities that are present in Charleston.”