K. Hovnanian Homes Returns to Rancho Cucamonga, CA - Closing Escrow on 79 Single Family Detached Homes in Rancho Etiwanda Master Plan

ONTARIO, Calif., March 3 /PRNewswire/ -- Hovnanian Enterprises, Inc. stated today that its subsidiary, K. Hovnanian Homes, is bringing new home opportunities to Rancho Cucamonga with the close of escrow on a new gated development of 79 new single family detached homes in the foothills of Rancho Etiwanda master plan.

The 79 hill side home sites overlook the valley, present city light views and offer a prestigious location in the affluent area of Rancho Cucamonga. The approximate 17 acre property was sold to K. Hovnanian Homes by SR Structured Lot Options I, LLC. Details of the transaction have not been disclosed.

Considered a premiere city in the Inland Empire of California and one of the nation's fastest growing metropolitan areas, Rancho Cucamonga has been identified by the FBI as one of the safest cities in the country of cities with populations over 100,000.*

The new home development is approximately one mile from Interstate Highway 210, convenient to the 15 Freeway and just a five minute freeway drive to Ontario International Airport. Numerous shopping, entertainment, recreation and parks are nearby.

"With the well known desirability of Rancho Etiwanda, a first-rate school system and the flourishing infrastructure of Rancho Cucamonga, we are extremely excited to bring back new home opportunities to this highly regarded area," said Steve Chaparro, Sr. Community Manager for K. Hovnanian Homes.

Scheduled to open November 2010, the development will offer four floor plans with three architectural elevations each and designs featuring up to approximately 3,608 square feet. Pricing has yet to be determined.

To register your name on the interest list, or for more information on K. Hovnanian's Southern California communities, visit www.khov.com/socal.

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.

*Released annually by the Uniform Crime Report

SOURCE K. Hovnanian Homes