K. Hovnanian Homes (NYSE:HOV) has officially broken ground on its newest waterfront residential development, Terraces at Absecon Inlet, in Atlantic City, New Jersey. The August 12, 2026 ceremony, attended by Atlantic City Mayor Marty Small Sr., signals a significant return for the homebuilder to the vibrant Atlantic City market and the commencement of construction on 38 exclusive waterfront townhomes.
These four-story residences are poised to redefine luxury coastal living, offering approximately 1,848 square feet of meticulously designed living space. Each home will boast three bedrooms, 3.5 bathrooms, and a convenient two-car tandem garage. A standout feature will be the private, top-level balconies, providing residents with breathtaking panoramic views of the Absecon Inlet, embodying the spirit of seaside elegance.
The initial phase of Terraces at Absecon Inlet will comprise five residential buildings, a fully furnished model home showcasing the quality and design, and a selection of homes ready for immediate occupancy. The company anticipates initial deliveries to homeowners commencing as early as the summer of 2027, marking a tangible milestone in this ambitious project.
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New homes
38 homes
Terraces at Absecon Inlet development
Living space per home
approximately 1,848 square feet
Four-story waterfront townhomes
Bedrooms per home
three bedrooms
Each unit
Bathrooms per home
3.5 baths
Each unit
Building design
four-story
Residential townhomes
Initial phase buildings
five residential buildings
Part of the first development phase
Garage capacity
two-car tandem garages
Standard home amenity
Anticipated first move-ins
summer 2027
Projected earliest delivery date
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Aug 06 | earnings call notice | Neutral | -2.4% |
Announced third-quarter fiscal 2026 results release and conference call timing |
| Jul 01 | regional expansion | Positive | -5.2% |
Rebranded Saudi Arabian real estate operation following increased majority ownership |
| May 21 | quarterly earnings | Negative | +17.8% |
Reported lower revenue and net loss despite adjusted EBITDA exceeding guidance |
| May 07 | earnings call notice | Neutral | -1.1% |
Announced second-quarter fiscal 2026 results release and webcast schedule |
| Apr 08 | joint venture closing | Positive | +6.3% | Closed a $200 million homebuilding joint venture portfolio with GTIS Partners |
HOV’s recent news reactions have shown a notable divergence from the stated sentiment of announcements, with price movements not consistently aligning with the perceived positive or negative nature of the event. This pattern suggests that market participants may be reacting to factors beyond the immediate news, such as broader economic trends, investor sentiment, or specific financial metrics not explicitly highlighted in the release. The 17.8% gain following mixed quarterly results is a prime example of this divergence.
AI-generated analysis. Not financial advice.
ATLANTIC CITY, N.J., Aug. 14, 2026 — K. Hovnanian® Homes celebrated the groundbreaking of Terraces at Absecon Inlet on August 12, marking the start of construction for new waterfront townhomes and condos for sale in Atlantic City, NJ. The event was attended by representatives from K. Hovnanian® Homes and Atlantic City Mayor Marty Small, Sr. This new-construction development represents K. Hovnanian’s return to the Atlantic City market and marks the beginning of a new community that will deliver 38 new homes to Atlantic City.
Upon completion, Terraces at Absecon Inlet will feature 38 waterfront townhomes overlooking the Absecon Inlet and located directly across from Altman Park, near Gardner’s Basin and the historic Atlantic City Boardwalk.
“We’re thrilled to be back. We’re excited about this location, and we’re even more excited about the future,” said Nikki Mallozzi, President of K. Hovnanian Homes’ Northeast Division, during remarks at the groundbreaking ceremony.
“We appreciate K. Hovnanian’s commitment to the Great City of Atlantic City and its continued investment in bringing new housing opportunities and stability to our residential market,” said Mayor Marty Small, Sr in a news release.
Terraces at Absecon Inlet will offer a rare opportunity for waterfront living just steps from the beach and boardwalk in Atlantic City. The four-story homes will feature approximately 1,848 square feet of living space with three bedrooms, 3.5 baths, open-concept living areas, two-car tandem garages and private top-level balconies designed to embrace the city’s coastal setting with panoramic water views.
The first phase will include five residential buildings, a furnished model home and select quick move-in opportunities, with anticipated deliveries beginning as early as summer 2027.
Homes at Terraces at Absecon Inlet will feature K. Hovnanian’s Looks®, the company’s designer-curated interior collections that simplify the homebuying process by offering coordinated finishes and a streamlined, turn-key approach to personalization.
The community places homeowners within easy reach of Atlantic City’s beach, boardwalk, dining, entertainment and recreation opportunities while offering the convenience of new construction in one of the city’s most distinctive waterfront locations on the Absecon Inlet in Atlantic County, New Jersey.
About Hovnanian Enterprises®, Inc.
Hovnanian Enterprises, Inc., founded in 1959 by Kevork S. Hovnanian, is headquartered in Matawan, New Jersey and, through its subsidiaries, is one of the nation’s largest homebuilders with operations in Arizona, California, Delaware, Florida, Georgia, Maryland, New Jersey, Ohio, Pennsylvania, South Carolina, Texas, Virginia and West Virginia. The Company’s homes are marketed and sold under the trade name K. Hovnanian® Homes. Additionally, the Company’s subsidiaries, as developers of K. Hovnanian’s® Four Seasons communities, make the Company one of the nation’s largest builders of active lifestyle communities.
FAQ
What is Terraces at Absecon Inlet by K. Hovnanian Homes (HOV) in Atlantic City?
Terraces at Absecon Inlet is a new K. Hovnanian waterfront townhome community in Atlantic City with 38 homes. According to the company, it will feature four-story residences overlooking Absecon Inlet, near Altman Park, Gardner’s Basin and the historic Atlantic City Boardwalk.
When did K. Hovnanian Homes (HOV) break ground on Terraces at Absecon Inlet?
K. Hovnanian Homes broke ground on Terraces at Absecon Inlet on August 12, 2026. According to the company, this ceremony marked the start of construction and its return to the Atlantic City housing market with a 38-home waterfront community.
How many homes will be built at Terraces at Absecon Inlet by K. Hovnanian (HOV)?
Terraces at Absecon Inlet is planned to include 38 waterfront townhomes in Atlantic City. According to K. Hovnanian Homes, these four-story residences will be located along Absecon Inlet, directly across from Altman Park and close to the beach and boardwalk.
What are the home features at Terraces at Absecon Inlet in Atlantic City by HOV?
Homes at Terraces at Absecon Inlet are expected to offer about 1,848 square feet, three bedrooms and 3.5 baths. According to K. Hovnanian Homes, they will include open-concept living, two-car tandem garages and private top-level balconies with coastal views.
When are homes at Terraces at Absecon Inlet expected to be available for move-in?
Initial move-ins at Terraces at Absecon Inlet are anticipated as early as summer 2027. According to K. Hovnanian Homes, the first phase will include five residential buildings, a furnished model home and select quick move-in opportunities for buyers.
What is K. Hovnanian’s Looks design feature at Terraces at Absecon Inlet (HOV)?
K. Hovnanian’s Looks are designer-curated interior collections offered at Terraces at Absecon Inlet. According to the company, these coordinated finish packages aim to simplify the homebuying process by providing a streamlined, turn-key approach to interior personalization.
Where is Terraces at Absecon Inlet located within Atlantic City, New Jersey?
Terraces at Absecon Inlet is located along the Absecon Inlet in Atlantic City, across from Altman Park. According to K. Hovnanian Homes, the community is near Gardner’s Basin and just steps from Atlantic City’s beach, boardwalk, dining and entertainment.
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