K. Hovnanian Homes Announces the Grand Opening of its Newest Community, Vintage at Crossriver

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K. Hovnanian Homes announces the Grand Opening of a brand new community in northwest Phoenix, Vintage at Crossriver, on October 3rd and 4th. Fully-decorated and landscaped models are available to tour. Included gourmet kitchen with the purchase of a new home during the Grand Opening.

With Vintage at Crossriver just minutes from Lake Pleasant Regional Park, University of Phoenix Stadium and all of the surrounding conveniences offered by the northwest valley, this community offers its residents an excellent location at an incredible value

K. Hovnanian Homes of Arizona, a subsidiary of Hovnanian Enterprises, Inc. (NYSE: HOV), announced the Grand Opening of its newest Phoenix-area community, Vintage at Crossriver, is scheduled for October 3rd and 4th, 2009.

The public is invited to attend this weekend's Grand Opening of Vintage at Crossriver, a new K. Hovnanian community located in the Crossriver master-planned community at 123rd Avenue and Pinnacle Peak Road in northwest Maricopa County.

"We are excited to showcase our beautiful, memorable model homes and introduce this exceptional neighborhood during our Grand Opening weekend," said Andy Pedersen, regional director of marketing for K. Hovnanian Homes. "Plus, we are including a gourmet kitchen package with stainless steel appliances, a double oven, upgraded staggered cabinets and kitchen island with the purchase of a new home during our Grand Opening weekend," he added.

Vintage at Crossriver features two fully-decorated and lushly-landscaped model homes available to tour. The first featured model is the single level, 2,035 square foot "Merlot" floor plan with formal living and dining areas along with a spacious family room open to the kitchen. The second model home is the five-bedroom "Shiraz" two-story floor plan with spacious master suite on the first floor, along with four bedrooms and loft on the second floor.

"With Vintage at Crossriver just minutes from Lake Pleasant Regional Park, University of Phoenix Stadium and all of the surrounding conveniences offered by the northwest valley, this community offers its residents an excellent location at an incredible value," Pedersen said.

Vintage at Crossriver features six floor plans ranging from 1,860 square feet priced at $155,990 to 3,500 square feet priced at $209,990.

The Vintage at Crossriver Grand Opening is scheduled for October 3rd and 4th, 2009 from 10 a.m. to 6 p.m. on Saturday and 11 a.m. to 6 p.m. on Sunday. Travel Happy Valley Road west to Loop 303, south on El Mirage Road to Williams Road and then east to 123rd Avenue. Visit http://khov.com for more information or call 877-KHOV-NOW.

Hovnanian Enterprises, Inc. (NYSE: HOV), 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.

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