K. Hovnanian's(R) Four Seasons at Lakes of Cane Bay Breaks Ground for Model Park

On Wednesday, April 6, Pat Annessa, K. Hovnanian® Homes SE Coastal Division President, officiated at the formal groundbreaking ceremony for the Model Park at K. Hovnanian’s® Four Seasons at Lakes of Cane Bay, the amenity-rich 55+ community that is slated to open for sales mid-year 2016. Representatives of the Greater Summerville/Dorchester County Chamber of Commerce participated in the celebration. When finished, the Model Park will include nine beautifully furnished model homes from the new Coastal Home Collection.

K. Hovnanian’s® Four Seasons at Lakes of Cane Bay brings the best in luxurious 55+ living to Summerville, just a short drive from historic Charleston and South Carolina’s Lowcountry beaches. The master-planned, gated community features a 300-acre lake and an 8-mile navigable waterway, perfect for fishing, kayaking, boating, paddle boarding, birding and other outdoor activities. The community also features a second-to-none amenity center including a 20,000 square foot clubhouse, indoor/outdoor saline pool complex, pickleball, bocce and tennis courts, demonstration kitchen and yoga studio.

“The development of K. Hovnanian’s® Four Seasons at Lakes of Cane Bay has been going on for a while now, and we are delighted that soon we will be able to walk prospective residents through a variety of floorplans we offer, and show them our top quality finishes and superior craftsmanship,” says Sam Abruzzo, Senior Community Manager.

Coastal Home Collection

The beautiful new 55+ community will showcase K. Hovnanian® Homes gorgeous Coastal Home Collection, which includes more than 15 different home designs that satisfy the wishes and needs of today’s and tomorrow’s homeowners who are looking to move to a more efficient, low-maintenance home. The homes reflect the unique style of South Carolina’s desirable Lowcountry with features that are specifically designed to suit residents’ lifestyle.

The new homes in the Coastal Home Collection include:

· 2 - 5 bedrooms, 2 - 4 baths

· Single-level homes which can be expanded to include spacious lofts

· 2 or 3-car garages

· Expansive kitchens, integrated with casual living areas

· Luxury spa baths

· Tremendous storage space

· Energy-saving features

REALTOR® Linda Morse, Sales Consultant with K. Hovnanian® Homes, invites interested buyers to visit soon to preview lots and new homes: “Stop by the Welcome Center to check out our spacious, detailed plans, and make sure to tell your friends about our amenity-rich new active lifestyle community that is underway at Lakes of Cane Bay.” K. Hovnanian® Homes, a division of Hovnanian Enterprises®, Inc. (NYSE:HOV), is one of the top ten homebuilders in the U.S.

The Community is intended to provide housing primarily for persons 55 years of age or older, and additional restrictions apply. The Community shall be operated as an age-restricted community in compliance with all applicable state and federal laws. At all times, at least eighty percent (80%) of the homes within the Community shall be occupied by at least one (1) individual 55 years of age or older.

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From left to right: Jim McDaniel, Board Chair of the Greater Summerville/Dorchester County Chamber of Commerce, Pat Annessa, Area President of K. Hovnanian® Homes’ SE Coastal Division, Sam Abruzzo, Sr. Community Manager of K. Hovnanian® Homes Lakes of Cane Bay, Mark Cherry, VP Project Manager for Gramling Brothers Real Estate and Development, Ben Gramling, President of Gramling Brothers Real Estate and Development (Developer of Cane Bay Master Planned Community)

About Hovnanian Enterprises®, Inc.:

Hovnanian Enterprises®, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Red Bank, New Jersey. The Company is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Illinois, Maryland, Minnesota, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, DC, and West Virginia. The Company’s homes area marketed and sold under the trade names K. Hovnanian® Homes, Brighton Homes® and Parkwood Builders. As the developer of K. Hovnanian’s® Four Seasons communities, the Company is also one of the nation’s largest builders of active lifestyle homes.

Additional information on Hovnanian Enterprises, Inc., including a summary investment profile and the Company’s 2015 annual report, can be accessed through the “Investor Relations” section of the Hovnanian Enterprises’ website at http://www.khov.com. To be added to Hovnanian’s investor e-mail or fax lists, please send an email to IR@khov.com or sign up at http://www.khov.com.