K. Hovnanian Homes Meets Growing Demand For Homes With 2 Additional Orlando-Area Communities

ORLANDO, Fla. - Sept. 3, 2013 - PRLog -- ORLANDO, Fla. – K. Hovnanian^® Homes^® (http://www.khov.com/orlando) will open two new communities this year to address the growing demand for homes in the Orlando area.

The company has purchased several parcels in Greater Orlando, said Scott South, division president. Additional communities also could be announced soon, he added.

“Like other homebuilders, K. Hovnanian^® Homes^® is seeing demand increase as the housing market stabilizes and begins to grow,” he said, adding that Census Bureau figures show that building permits in the Orlando area are up 85 percent. “There’s very little standing inventory and people want greater energy efficiency and features not found in older homes. These two communities, along with others we’re already building in the area, will help us meet that demand.”

Sales will begin shortly at K. Hovnanian^® Homes^® at Pickett Reserve in Orlando. The community will offer only 18 homes on a cul-de-sac, creating an intimate neighborhood in an area considered very desirable. Located just off Lake Pickett Road and 1/3 mile north of SR 50, Pickett Reserve is just minutes from the University of Central Florida, a high school, two elementary schools and childcare.  Scott said the new community is perfect for families.

“Pickett Reserve will be an enclave of elegant homes,” he said. “It’s a prime location and we’ll be building four distinctive designs with three, four or five bedrooms, two to three baths and two-car garages. There are also shopping, parks and many other local attractions, including all the places Central Florida is known for.”

Meanwhile, K. Hovnanian^® Homes^® has acquired 31 new-home sites in the Wekiva area of Apopka.  The Estates at Wekiva is located just off North Wekiva Springs Road on Orchard Drive near Sweetwater.  This collection of luxury single-family homes will include one- and two-level homes with four to six bedrooms and three to six baths. These homes offer activity rooms, bonus rooms and many other features sought after, including three-car garages. The community is near elementary and middle schools, a beautiful golf course and the 7,000-acre Wekiva Springs State Park.

“The housing market in Orlando is very active and we are making sure we have the floor plans and streetscapes that people want,” said South. “We want to build on the success we’ve enjoyed at Lake Burden at the Lakes of Windermere (http://www.khov.com/Home/FL/26266/_Properties_AUTH.htm?ut...).  There, people like being able to choose from the townhomes (http://www.khov.com/Home/FL/262700000/_Properties_AUTH.ht...), single-family homes and lakefront estate homes. The lineup of home styles fits the lifestyle of modern homebuyers by offering many amenities, energy efficiency, low maintenance and a great location.”

South said the two new communities will bring to seven the number of neighborhoods being built in the Orlando area. K. Hovnanian^®Homes^®, a national homebuilder, is building 19 communities across the state.

“We’re paying close attention to what people are looking for in this very competitive market,” said South. “We continue to offer a variety of homestyles and prices, all with quality craftsmanship, energy efficiency and a wide variety of options and upgrades available. We’re watching for other opportunities to create new communities in the area.”

Information on these and other communities in the Orlando area is available at www.khov.com/orlando (http://www.khov.com/Home/HomeFinder/HomeFinderStep3.htm?S...) or by calling (877) 669-5468. Sales galleries and models are Monday through Saturday from 10 a.m. to 6 p.m. and on Sundays from noon to 6 p.m.

About Hovnanian Enterprises^®

Hovnanian Enterprises, Inc (http://www.khov.com/Home/IR/CorporateSummary/CorporateSummary.htm)., founded in 1959 by Kevork S. Hovnanian, is headquartered in Red Bank, N.J. The company is one of the nation's largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, Minnesota, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, D.C. and West Virginia. The company's homes are marketed and sold under the trade names K. Hovnanian^® Homes^®, Brighton Homes, Parkwood Builders, Town & Country Homes and Oster Homes. As the developer of K. Hovnanian's^® Four Seasons communities, the company is also one of the nation's largest builders of active-adult homes.

Additional information on Hovnanian Enterprises, Inc., including a summary investment profile and the Company's 2012 annual report, can be accessed through the "Investor Relations" section of the Hovnanian Enterprises' website at http://www.khov.com. To be added to Hovnanian's investor e-mail or fax lists, please send an e-mail to  IR@khov.com or sign up at http://www.khov.com.

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