Current CEO: Ara K. Hovnanian
Hovnanian Enterprises, Inc., which also operates under the name K. Hovnanian, is a semi-custom homebuilder in the United States. The company’s corporate headquarters is in Red Bank New Jersey and Hovnanian operates in several states, including Arizona, California, New Jersey, Ohio, Pennsylvania, Georgia, and Florida.
Hovnanian Enterprises builds close to 15,000 houses a year, ranging from $46,000 to $2,500,000, with an average final home cost of $280,000. Homes and condos are built on the owner’s lot or in Hovnanian-developed subdivisions. Homeowners can choose from several pre-determined floor plans and have the option of making minor modifications to the floor plan while also choosing several custom options.
Kevork Hovnanian and his brothers Hirair, Jirair, and Vahak founded the company in 1959. The brothers borrowed money to form the company in a trailer in Red River, New Jersey. Hovnanian Enterprises originally focused on low-cost condos and homes marketed to first-time homeowners. These homes often lacked the higher priced amenities other builders added, but provided an affordable starter home. Today, the company has both basic and luxury home options. The corporation has remained a part of the Hovnanian family since it was created, and the current CEO is the son of Kevork Hovnanian.
Individuals interested in K. Hovnanian careers can find employment in the construction, homeowner service, marketing, sales, purchasing, and customer service fields. Management positions include site foremen and project managers, as well as local and regional office management. Some positions may require flexibility as the economy and local conditions influence the volume of new home construction.
The Hovnanian family directly influences the K. Hovnanian culture. Honesty, respect, and integrity directly influence the corporation’s culture. The company also values constant change and improvement in order to keep up with the latest trends and technology. Hovnanian Enterprises desires to be the most highly regarded homebuilder in the nation.
The corporation offers an extensive benefits package to qualified individuals working at Hovnanian Enterprises. Medical and health benefits include medical and prescription insurance, dental and vision insurance, flexible spending and dependent care accounts, and an employee assistance program. Other health-related Hovnanian Enterprises benefits include company paid life, business travel, and accident insurance, dependent life insurance, short and longer term disability insurance, and worker’s compensation.
In addition to health-related benefits, the corporation also offers several other incentives. Hovnanian offers a 401(k) plan, profit sharing, a 529 college savings plan, vacation and sick time, and paid holidays. Employees can also receive a discount on the purchase of a K. Hovnanian home.