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John Laing Homes seems to have stopped building here, sources say
Comments 0 | Recommend 0California-based John Laing Homes, one of Colorado Springs' largest residential builders, apparently has halted local home construction and appears to be leaving the market, said a Pikes Peak Regional Building Department official and two developers.
The company, which builds in Colorado and California, issued a statement Thursday that said it's "currently reviewing all potential options to meet its capital requirements. A reduction in force has occurred at the company, which is currently restructuring its operations to focus on select locations. However, operations have not ceased. ... John Laing Homes assures new homebuyers who are currently in the purchasing process that deposits are secure."
The company didn't say if Colorado Springs is one of the locations where it will continue to build. A company spokeswoman declined further comment.
Laing builds homes in four prominent local developments: the 21,400-acre Banning Lewis Ranch on the city's east side; the 210-acre Gold Hill Mesa on the west side; the 1,600-acre Wolf Ranch in far northeastern Colorado Springs; and the 2,650-acre Meridian Ranch in unincorporated Falcon, northeast of town.
Jim Pepper, Pikes Peak Regional Building's chief building inspector, said John Laing did not renew its building license after it expired Jan. 28. While not necessarily unusual to allow a license to lapse, Pepper said John Laing also has been without a local agent since early October, which is rare. Also, the company has not pulled any permits for single-family home construction since early November, he said.
"Something is about to happen with them," Pepper said, when asked to speculate on the company's inactivity. "Anybody would reach that logical conclusion. They're probably leaving."
John Cassiani, who oversees Banning Lewis Ranch, and Bob Willard of Gold Hill Mesa, said they've heard second-hand reports that John Laing is leaving Colorado all together, although neither has received official word from the company.
