Hovnanian Enterprises Enters Charleston, South Carolina Market
August 6, 2014
RED BANK, NJ – Hovnanian Enterprises(R), Inc. (NYSE:HOV), a leading national homebuilder, announced that it is expanding into the Charleston, South Carolina market with plans to build K. Hovnanian’s (R) Four Seasons at Lakes of Cane Bay in Summerville, South Carolina. This new community provides Hovnanian with a complementary presence to its Hilton Head operations in the Charleston market, which is the 32nd largest housing market in the United States, based on 2013 new home starts.
K. Hovnanian’s(R) Four Seasons at Lakes of Cane Bay will be the newest neighborhood in Cane Bay Plantation and will feature an expansive lake system and waterfront properties. Cane Bay Plantation is a master planned community currently ranked the 19th best-selling community in the United States, and is located approximately 30 minutes from downtown Charleston, South Carolina. The new community will be a private gated community featuring over 800 energy efficient homes with countless amenities that will bring new excitement to the historic Summerville and Charleston area while retaining the beautiful heritage of Cane Bay Plantation. While K. Hovnanian’s(R) Four Seasons popular active adult communities are sought out nationwide, this will be the Company’s first active adult community in South Carolina.
“We are extremely excited about the opportunity to build a K. Hovnanian’s(R) Four Seasons community in South Carolina,” commented Ara Hovnanian, Chairman of the Board, President and Chief Executive Officer of Hovnanian Enterprises(R), Inc. “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.”
This unique lakefront community will offer homeowners the opportunity to enjoy lakefront and wooded preserve homesites with access to over seven miles of navigable waterways, a main 250+ acre lake and over 10 miles of nature trails and pathways. Fishing, kayaking, boating and bird watching from countless vantage points will punctuate the lifestyle associated with K. Hovnanian’s(R) Four Seasons at Lakes of Cane Bay community. In addition, numerous amenities will include a lakefront clubhouse with fitness center, indoor and outdoor pool complexes, pickle ball, bocce ball courts, tennis courts and much more.
A welcome center is expected to open at the community in the fall of 2014.
About Hovnanian Enterprises(R)
Hovnanian Enterprises(R), Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Red Bank, New Jersey.
