The Real Deal Miami

Hovnanian founder dies at 86

September 27, 2009 05:34PM

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.