Englewood based Village Homes filed for Chapter 11 bankruptcy protection in November 2009. Since then 2 real estate companies have teamed up to buy Village Home's assets for $21.9 million. The companies are Homebuilder Capital Solutions, an affiliate of Colorado and Santa Fe Real Estate and Lowe Enterprises. One reason for a depressed market for new construction is that is has been hard for builders to obtain financing. Chairman and chief executive of Colorado and Santa Fe, Marcel Arsenault, believes that it is a good opportunity for them because banks know and trust them. This new ventures first goal will be to complete 57 homes that have already been started. Home builders are optimistic that 2010 will be a better year for new construction sales.
Comments (2)Subscribe to CommentsComment