Clear Lake Topics: I think Glynridge first,
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Name:
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Catherine
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Subject:
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I think Glynridge first,
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Date:
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11/1/2008 8:46:31 PM
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then the Ridge.
Many of those homes in the Ridge are Builder Program homes, which Russell Lands will own for little or (literally) nothing as the builders bankrupt. I think the biggest reason they would build in the Ridge would be to give the appearance that "something is going on," and the development is not stagnant. You have to remember also that they have almost no cost in those homes in the Ridge (built on their lots, with their materials, by builders who do not pay for the home and lot until it is sold, so they will foreclose on many of those homes for pennies on the dollar, if anything at all). Maybe John can give us some insight as to what they might be thinking in getting back into building now, and specifically in the Ridge?
Glynridge is a different story. They've already staked the lot they'll build on first, so it is basically "kickstarting" the development, and getting a foothold back in the construction business. They really did build some beautiful homes when they were active in that business, so I'm anxious to see what they will turn out as they get back in.
A construction business would also create jobs that could possibly be filled by some of the employees who were recently laid off or terminated.
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