According to Kushner principal Jeff Freireich, construction isalready underway on two of the projects, and several others are invarious planning stages. Both companies will continue to pursuetheir own independent projects as well.

Kushner is a development giant, with a portfolio of more than20,000 residential units, most of them in New Jersey and in theMid-Atlantic region. The privately-held company also manages morethan three million sf of commercial space, and has ownershipinterests in another six million feet. The company has alsodeveloped a reputation for being able to wend its way through theapproval process, which, in New Jersey can be extremely tricky andcomplex.

Hovnanian, meanwhile, brings its brand name to the new alliance,according to observers. Simply put, because its holdings cover awider geographic reach along the East Coast as well as inCalifornia, and the company has taken pains to establish its brandname, it tends to be better known. Hovnanian officials did notimmediately return phone calls.