The Estridge Cos. has withdrawn a proposal to build a massive youth sports complex in its master-planned Symphony development in Westfield.
The Westfield planning commission has asked city employees to further review the 1,400-acre mixed-use project that could include
thousands of homes, shops, a YMCA and a baseball stadium.
Beleaguered home builder doesn’t appear to have funds available to pay an attorney to prepare
necessary paperwork for Chapter 7 liquidation, trustee says in court filing.
Estridge Cos.’ subcontractors have invested $10 million into the firm led by COO Matt Cohoat and CEO Paul Estridge Jr.—an
infusion that paves the way for them to proceed with
a massive development in Westfield.
The number of building permits filed in the nine-county metropolitan area has been flat the past two months following a flurry
of activity leading up to the expiration of federal home-buying tax credits.
Salin Bank argues that it wants to "control its own destiny" by selling 49 lots the homebuilder defaulted on rather
than have court-appointed receiver coordinate the sale.
This spring’s Parade of Home is being held about two weeks earlier than normal to help builders lure homebuyers who want to
take advantage of federal incentives intended to give the residential real estate market a boost. Builders also are taking
chances on more spec homes.
The troubled home builder’s $14.5 million in liabilities are twice as much as its assets, receiver tells Marion County judge,
who takes the recommendation under advisement.
Home builder hopes to sell as many as 200 houses in region this year. Fischer, which entered the Columbus, Ohio,
market in 2008 after buying subdivisions from retreating builders, is using the same strategy to establish a foothold in Carmel,
Westfield, Zionsville and Avon.
Two more local homebuilders fell victim in 2009 to the prolonged meltdown of the housing market. Carmel-based
C.P. Morgan Communities LP closed in February, and Indianapolis-based Hansen & Horn Group Inc. is teetering on the edge
Short sales and foreclosures in this 2,200-unit development began cropping up several years ago and continue today.
The president of Hansen & Horn Group Inc. admitted in court Thursday that the troubled home builder is insolvent and agreed
to have a receiver appointed to operate the company.
Indianapolis-based Hansen & Horn Group Inc. is without legal representation after attorneys defending the troubled
home builder from a slew of lawsuits dropped it as a client.
A Marion County judge has frozen certain Hansen & Horn Group Inc. funds after the Indianapolis homebuilder failed to pay
a $183,000 legal judgment. The move sheds light on the severity
of the company’s woes.