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Virginia homebuilder enters market

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Home-building powerhouse Ryan Homes is marketing lots in 10 subdivisions it has taken over from the defunct local builder CP Morgan Communities.

CP Morgan, which had been based in Carmel, closed in February. It had been one of the area’s most prolific builders, constructing more than 25,000 homes in 26 years in business.

Ryan is offering homes in the $90,000 range on most of the roughly 800 vacant lots it acquired in Greenwood, Westfield, Brownsburg, Noblesville and Franklin Township.

The Reston, Va.-based builder was founded in 1948 in Pittsburgh and has built more than 300,000 homes. It now builds in about 20 metropolitan areas, including cities in Ohio and Kentucky.

The subdivisions where Ryan is offering homes are Moeller Estates, Hanover, Harmony and Edgewood Trace in Franklin Township; Countryside in Westfield; Branches in Brownsburg; Horizons at Cumberland Point in Noblesville; Homecoming at University Park and Timber Valley in Greenwood; and Northfield at Heartland Crossing.

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