K. HOVNANIAN HAS DELIGHTED BUYERS FOR SIX DECADES

It all began with Kevork Hovnanian, an Armenian immigrant who came to the United States — Toms River, New Jersey, to be more precise — in 1959. Together with three brothers, he started K. Hovnanian Homes, which has been in new-home construction for more than 60 years.

Kevork’s son Ara, the current CEO, joined the closely held company in 1979. In 1983, the company went public, but the family-owned feel continued despite rapid growth. Today, Kevork’s grandson Alexander is executive vice president, national homebuilding.

From New Jersey, K. Hovnanian expanded into North Carolina in 1986, California in 1994, Virginia and Metro D.C. in 1998 and Texas in 1999. In 2003, the company acquired Windward Homes in Tampa along with acquisitions in Ohio and Arizona. Minneapolis was added in 2004.

However, it wasn’t until 2005, with the acquisition of Cam- bridge Homes, that K. Hovnanian entered the Orlando market. Gretta Akellino, director of sales for the Orlando division, explains why the region was so attractive.

“Central Florida was experiencing a housing boom due to the increase of tourism traffic to our state,” he says. “This, coupled with a favorable tax rate and no state income tax, is a driving factor to people.”

Although the company had to compete with plenty of other builders who either already had a toehold in Central Florida or were planning to expand here as well, Akellino says experience gave K. Hovnanian an edge.

“In addition to our 60-plus years of commitment to excellence, we also pride ourselves on a simple and transparent homebuying experience,” she says, pointing specifically to the company’s “Looks” program, which brings the architect and interior designer together before the home is completed.

Says Akellino: “This program offers professional, curated interior designs that give the buyer the style and finishes they love without the stress of having to choose every minor detail.”

Currently, K. Hovnanian is the sole builder in three Central Florida communities.

For 55-plus homebuyers looking in Kissimmee, Four Seasons at Orlando offers resort-style living, complete with a

12,000-square-foot clubhouse that features an arts-and-crafts room, a ballroom, a catering kitchen, a fitness studio and a full-time activities director. Single-family homes and attached duplex villas are priced from the mid-$300s to low $500s.

Ivy Trail in Apopka, the first community to feature the Looks program, offers intriguing interior architectural choices: loft, farmhouse, classic and “element” for a more contemporary look. Single-family homes are priced from the mid-$400s.

The third community, Osprey Ranch in Winter Garden, offers single-family homes priced from the $600s, bungalows priced from the high $400s and townhomes priced from the low $400s. Model homes are scheduled to open in fall 2023.

Although interest rates have increased from record lows, Akellino says home sales are moving at a brisk pace as they enter the spring selling season.

“Over the past year, buyers have become increasingly well-adjusted to new higher rates,” she says, adding that K. Hovnanian American Mortgage, an in-house operation, “has been proactive in offering innovative loan programs and interest-rate buydowns to help ease the payments associated with the higher rates.”

For more information, visit khovnanianhomes.com.

—Patricia