K. Hovnanian Homes Closes on 45 Single Family Home Sites in Mesa, AZ

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K. Hovnanian Homes of Arizona closes on 45 single family home sites in the gated community of Annecy in Mesa, Arizona. The community features an abundance of amenities and is slated to start sales in late 2010.

The acquisition of Annecy in Mesa continues K. Hovnanian’s strategic growth throughout the metropolitan Phoenix area, said John Michell, Phoenix division president.

K. Hovnanian Homes of Arizona announced today that it closed on 45 finished, single family home sites in the gated community of Annecy in Mesa, AZ.

The property was sold to K. Hovnanian Homes by AD Alliance I, LP. Details of the transaction have not been disclosed.

“The acquisition of Annecy in Mesa continues K. Hovnanian’s strategic growth throughout the metropolitan Phoenix area,” said John Michell, Phoenix division president for K. Hovnanian Homes. “Annecy provides us with the opportunity to build a beautiful neighborhood in the highly desirable Mesa-area.”

The builder purchased 45 - 125’ x 140’ finished home sites in Annecy, which is located on Power Road, south of McKellips Road in Mesa. This gated community includes such amenities as a park site with playground, a ramada with fireplace, restrooms and barbeques, basketball courts and soccer field.

“This incredible, gated neighborhood will provide an excellent opportunity for customers who are looking for larger home sites and spacious home designs in a convenient location with easy access to US-60 and Loop 202,” said Andy Pedersen, K. Hovnanian’s director of marketing.

Annecy is scheduled to open for pre-sales in late-2010 and will feature one fully-decorated, model home available to tour in early November. Concepts for the homes to be offered at Annecy are currently under development, and the pricing has yet to be determined.

To be placed on the interest list for Annecy, contact the K. Hovnanian Homebuyer Resource Center at (877) KHOV-NOW. Information on K. Hovnanian’s communities throughout the Phoenix metropolitan area may be found by visiting http://www.khov.com.

K. Hovnanian Homes, founded in 1959 by the late 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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