Hovnanian founder dies at 86

Hovnanian founder dies at 86

September 28, 2009

Kevork Hovnanian

Kevork Hovnanian, founder and chairman of the sixth largest U.S. homebuilder group, Hovnanian Enterprises, died last week at age 86. Hovnanian reportedly founded the now-50-year-old firm on a $20,000 loan and served as an executive at the company until 1997. His son, Ara Hovnanian, is now CEO of Hovnanian Enterprises, which builds homes in 18 states.