nvdaily.com link to home page
Home | Archive | Weather | Traffic
Subscribe | Guide to the Daily


Business arrow Homes arrow Archives

Posted June 27, 2009 | Copyright © The Northern Virginia Daily
Print This | Buy Photos | Get E-mail Alerts | Follow Us on Twitter | Fan Us on Facebook |

Ryland gives up on Taylor's Ridge

taylorridge.jpg
Ryland Homes has decided to pull out of the Taylor’s Ridge subdivision in Strasburg due to the downturn in the economy. The 18 undeveloped lots in the subdivision are back on the market. Rich Cooley/Daily

By Elizabeth Wilkerson - ewilkerson@nvdaily.com

STRASBURG — National homebuilder Ryland Homes is pulling out of the still incomplete Taylor’s Ridge subdivision in Strasburg.

Town planner Judson Rex said residents of the subdivision called the town several weeks ago when they saw a moving truck and the furniture being removed from the development’s model home. Rex said the company notified him it would be leaving the subdivision.

A Ryland Homes representative could not be reached for comment this week.

Taylor’s Ridge, located in the area of Va. 55, is set to include 38 single-family, large-lot homes. Ryland Homes “only purchased a certain number of lots in Taylor Ridge,” Rex said, and, “from what I understand, they are finishing up homes on the last few lots they own and then they’ll be done with the project there.”

Developer Dave Holliday, who owns the remaining 18 lots in Taylor’s Ridge, said construction of the subdivision began between two and three years ago. When asked why Ryland Homes was leaving, Holliday said, “My guess is they’re not making any money.”

He said he “offered a decent price on the lots, offered to carry them interest free, but it did nothing to entice them, so they voided the contract and left their deposit.” He hasn’t actively tried to sell the remaining lots, he said, as “there’s not many builders still in business.”

“I’d be delighted to sell them, but to whom I don’t know,” he said. “Builders can’t compete. The market is that low, till these foreclosure things blow out, and Lord knows when that will be.”

Holliday is a building contractor, as well as a developer, he said, so he may end up building on the remaining lots.

Everyone is used to the last five or six years, when the market was “super hot” and subdivisions were built out rapidly, he said.

“I’ve got one subdivision that took me almost 16 years to get through,” Holliday said. “But people aren’t used to that. They get all rattled.”

When the market changes, national builders leave, he said.

“I’ve had it happen to me before,” he said. “So, it’s not a big deal to me. What’s a big deal to me is the market in general.”

A team will be going into the subdivision to “mow all the grass,” the roads will be built to state specifications and the sewer and water infrastructure “has all been turned over to the town,” he said.

“So, [some subdivision residents are] mad at Ryland for leaving, I guess, but they’re not in jeopardy,” he said.

Leave a comment



Related category entries

This story was filed in the Homes category. View more entries in this category:









top-jobs-logo.jpg



Categories

Archives






News | Sports | Business | Lifestyle | Obituaries | Opinion | Multimedia| Entertainment | Homes | Classified
Guide to the Daily: Advertise | Circulation | Contact Us | NIE | Place a Classified | Privacy Policy | Subscribe

Copyright © The Northern Virginia Daily | nvdaily.com | 152 N. Holliday St., Strasburg, Va. 22657 | (800) 296-5137

nvdaily.com
The best small daily newspaper in Virginia