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K. Hovnanian Homes Announces Three New Communities In New Jersey
K. Hovnanian Homes has opened three new communities, a sign of the company's confidence in the housing market. Meanwhile, two other communities have "sold out."
Communities opening in Montvale and North Caldwell will cater to adults over 55 years old. The third community, which will be in Long Branch, will target upscale homebuyers who want to live on the Jersey Shore.
K. Hovnanian’s Four Seasons at Bridgewater and the Villages at Meadow Creek, in Manalapan, have sold out.
“This reflects our cautious optimism in the New Jersey housing market,” said John Moorzitz, division president of K. Hovnanian Homes. “Other than the community we opened in Trenton last year, we haven’t opened a new community in New Jersey since 2007. Many of those communities have sold their last home or only have one or two left. That situation reflects the dearth of new homes available in New Jersey, where housing starts are at historic lows.
“But now, we’re seeing that people have grown tired of waiting to buy a home,” Moorzitz continued. “They see the activity in the market, interest rates that are at generational lows and they are more confident that the economy will continue to improve. They’re ready, and so are we.”
The first of the three communities is K. Hovnanian’s®
A second active-adult community, K. Hovnanian’s Four Seasons at North Caldwell, will also open later this summer in that Essex County town. It also will have 108 condominiums similar in size to those at Four Seasons at Ridgemont. Like all Four Seasons communities, it will have a clubhouse and generous amenities package.
The third community is in Long Branch. Offering 17 single-family homes and three townhomes within walking distance of the ocean, The Views at Beachfront North will open later. These homes, which will range in size from 1,900 square feet to 3,700 square feet, are designed to be seasonal or year-round homes with decks that offer great views of the beach and plenty of room for the guests that invariably follow homeowners to the shore. Prices for these homes, built in partnership with Iron State Holdings, will start in the $700s and go as high as $2 million.
All of the homes meet New Jersey Energy Star criteria, said Moorzitz. In addition, he said the floor plans had been reviewed to assure that they reflect the changes in customer desires. K. Hovnanian, he added, has been using the slow housing market to make its operations more efficient and to evolve its quality controls.
“It’s a good time to make our move,” said Moorzitz. “These properties were all in the public eye some years back, but we decided to hold on to them until the market improved. Now is the time. In fact, we already have people signing up for our VIP lists.”
Information about K. Hovnanian’s®
The company soon will launch a landing page and a phone number for Four Seasons at North Caldwell.
K. Hovnanian Homes, named North Jersey’s top builder in overall customer satisfaction in J.D. Power’s 2009 U.S. New-Home Builder Customer Satisfaction Study, is the largest homebuilder in New Jersey. It is the seventh largest homebuilder in the nation.
Founded in 1959 by the late Kevork S. Hovnanian, the company sells homes in 18 states and the District of Columbia. The parent company, Hovnanian Enterprises, Inc., is headquartered in Red Bank, N.J., and delivered 5,659 homes during Fiscal 2009 under several names. Of those, 823 homes delivered in New Jersey, New York and Pennsylvania. Additional homes in those states were sold through joint ventures.
The company reported $1.6 billion in total revenues in Fiscal 2009. K. Hovnanian builds planned communities that include single-family, townhomes and garden homes. In addition, it constructs homes in mid-rise, high-rise and mixed-use buildings. The company also is well known for its active-adult homes, branded as K. Hovnanian’s Four Seasons, and its expertise in community redevelopment and environment rehabilitation. More information is available at http://www.khov.com or at 888-KHOV-HOME
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K. Hovnanian Homes, the 7th largest homebuilder in the U.S., builds in 19 states for the first-time buyer, the move-up buyer and active adults. Our homes are single-family, townhomes and even mid- and high-rise. We are experts in community redevelopment.