RED BANK, NJ -- Hovnanian Enterprises, Inc., a leading national homebuilder, announced that it is expanding into the Charleston, South Carolina market with plans to build K. Hovnanian's Four Seasons at Lakes of Cane Bay in Summerville, South Carolina. This new community provides Hovnanian with a complementary presence to its Hilton Head operations in the Charleston market, which is the 32nd largest housing market in the United States, based on 2013 new home starts.
K. Hovnanian's Four Seasons at Lakes of Cane Bay will be the newest neighborhood in Cane Bay Plantation and will feature an expansive lake system and waterfront properties. Cane Bay Plantation is a master planned community currently ranked the 19th best-selling community in the United States, and is located approximately 30 minutes from downtown Charleston, South Carolina. The new community will be a private gated community featuring over 800 energy efficient homes with countless amenities that will bring new excitement to the historic Summerville and Charleston area while retaining the beautiful heritage of Cane Bay Plantation. While K. Hovnanian's Four Seasons popular active adult communities are sought out nationwide, this will be the Company's first active adult community in South Carolina.
"We are extremely excited about the opportunity to build a K. Hovnanian's Four Seasons community in South Carolina," commented Ara Hovnanian, Chairman of the Board, President and Chief Executive Officer of Hovnanian Enterprises, Inc. "Given the strong demographic trends, we have talked about expanding our active adult offering into new markets, and we believe we found a great location that will allow us to take advantage of the growth opportunities that are present in Charleston."
Ben Gramling III, President of Gramling Brothers Real Estate & Development, Inc., the developers of Cane Bay Plantation expressed his enthusiasm for the new community by adding, "We are thrilled to have K. Hovnanian's Four Seasons at Cane Bay. As one of the most respected builders in the industry, their commitment to quality and innovation is a welcome addition to our community. Hovnanian's attention to detail in both design and construction set against the backdrop of our expansive lake system and walking trails will give residents an unsurpassed quality of life."