Sunday, July 09, 2006

HOV Takes Over Keyport Project - Fixed

As long we are speculating about the future of Kara Homes, I thought this article might be somewhat indicative of events to come. Hovananian, one of the largest home builders in the country recently took over a project in Keyport. It looks like maybe the original and much smaller developer took on more than they could handle.

"Red Bank-based developer K. Hovnanian has taken over the Parsippany-based Woodmont’s townhouse project at the corner of First and Broad streets, according to John Semple, an in-house attorney for the developer.

Semple appeared before the Borough Council at its regular session on Tuesday, June 20."


FYI, this is how the large public home buiilders plan to survive the downturn, by taking market share from smaller competitors, and ideally, running them out of business using the strength of their balance sheets.


Blogger chicagofinance said...

I think that postulate is pretty sound.

Sunday, July 09, 2006 9:49:00 PM  
Anonymous factchecklady said...

KHov is in Red Bank, the project they took over is in Keyport. Carry on.

Monday, July 10, 2006 8:13:00 AM  

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