K. Hovnanian Homes Closes Escrow on 36 Single Family Detached Homes in Stanton, CA

News provided by

Feb 04, 2010, 05:38 ET

ONTARIO, Calif., Feb. 4 /PRNewswire/ -- Hovnanian Enterprises, Inc. announced that its subsidiary, K. Hovnanian Homes, has closed escrow on Cambria, a planned and entitled community that will offer 36 single family detached homes in the heart of central Orange County in Stanton. Located on Starr Street between Ball and Cerritos, the property was previously marketed as Cambria and formerly owned by Stone City Land Investment Group, LLC. Details of the transaction have not been disclosed.

Situated in the midst of the major employment centers of Anaheim, Orange, Buena Park, Cypress and Westminster, the site's proximity to Beach Blvd, Disneyland and Knott's Berry Farm presents excellent exposure and convenience. The Orange County California market saw growth and recovery in 2009. Median home prices went from $427,000 in February 2009 to $450,000 in February 2010 and inventory has dropped 30% from February of 2009.*

"We are excited to be back in Orange County and building in the city of Stanton," said Wally Miller, Area President for K. Hovnanian Homes.

Scheduled to open February 2010, Cambria will offer five floor plans with three elevations each and up to approximately 1,973 square feet. Pricing has yet to be determined.

To register your name on the interest list for Cambria, contact the K. Hovnanian sales office at (877) 497-1700 or visit www.khov.com/socal for more information on K. Hovnanian's Southern California communities.

Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Red Bank, New Jersey. The Company is the nation's sixth largest homebuilder with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Kentucky, Maryland, Minnesota, New Jersey, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. The Company's homes are marketed and sold under the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton Homes, Parkwood Builders, Town & Country Homes, Oster Homes, First Home Builders of Florida and CraftBuilt 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.