K. Hovnanian, one of the nation's largest and most respected homebuilders, has selected NAI Atlantic Coast Realty to represent them in the acquisition of properties in the Beachfront South Redevelopment Area.

NAI Atlantic Coast and its agents have been retained to assist in the negotiations with private property owners within the redevelopment area. In K. Hovnanian's efforts to help owners avoid litigation and timing insecurities normally associated with redevelopment properties, K. Hovnanian has selected NAI Atlantic Coast to make every attempt at voluntary purchase of the owner's properties.

Anthony Graziano, NAI's Director and acquisition team leader states "We are pleased to be involved in such an exciting project. K. Hovnanian has a strong reputation for dealing fairly with people and companies from whom they buy property, and this is just another example of what makes K. Hovnanian such a reputable company. They are not approaching the project asking the City to just hand-over the property. They have entrusted us to work with the property owners direcly and identify their needs and terms of a fair agreement."

The proposed Beachfront South Redevelopment area is part of Long Branch's comprehensive redevelopment plan for the Oceanfront. At property owner's meeting November 11, 2004, Mayor Schneider expressed enthusiasm for the significant improvements in the area, including over $1 Billion in direct investment in the City over the past 10 years.

K. Hovnanian was selected through an extensive RFP process issued by the City of Long Branch which included some of the New Jersey's most reputable developers who also submitted designs and concept plans for the area's redevelopment.

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