According to Denver Business Journal, John Laing has suspended construction in the Denver metro area, and laid off staff in Colorado. According to current buyers waiting for their new home to be built in Stapleton, they recently received a call stating their contruction stopped with just a shell form (walls & roof). They are currently living in a rental after selling their previous home. They are currently awaiting their deposit to be returned from John Laing Homes.
Stapleton's building has remained strong, but will be minorly affected by this builder leaving their group of Forest City Stapleton, Inc. Laing has sent a statement back to Denver Business Journal stating, the homebuilder as a whole, has reduced its workforce, but "operations have not ceased." Part of this statement also included "deposit are secure." They did not have further comments about its Denver-area operations. Currently, they build in Denver as well as Gold Hill Mesa in Colorado Springs.
Linda Mamet, Laing's sales and market vice president stated "is currently reviewing all potential options to meet its capital requirements. Any decision (made) to this effect will be communicated to all stakeholders in a timely and appropriate manner."
John Laing Homes is owned by Emaar Properties PJSC of Dubai, United Arab Emirates. Laing Homes was founded in Great Britain in 1848, starting construction in U.S. in l984. This also spun off Watt Homes to form WL Homes LLC. Emaar Properties acquired Laing Homes in 2006 for $1.05 billon cash. In Newport Beach, California, the Builder magazine name Laing, America's best builder in 2006.
Joan Cox, GRI,CRS,ABR,e-Pro
Metro Brokers - Turning Point RE, Inc.
Centennial, CO 80111
720-231-6373
www.JoanCox.com
About Me
- Joan Cox
- Denver, Colorado, United States
- With 13 years in real estate, I specialize in relocation, new construction, investor purchases, first time homebuyers and sellers. Ask me about my web site! Call today - 720-231-6373 In August 2009 I opened MY OWN Metro Brokers office in the Tech Center.
