Ryland Homes to shutter Mason operations
California-based Ryland Homes, previously one of Greater Cincinnati’s largest home builders, will abandon its Mason operation by 2009, the builder said Friday.
Ryland has focused its construction efforts on northern Cincinnati communities like Liberty Township and Hamilton. The company said it built 183 homes in Cincinnati in 2007 and about 3,000 since entering the region in 1998. It also operates in Northern Kentucky, but has not announced plans for that office. Ryland employs 34 locally.
Ryland’s Web site lists available homes in eight local communities, including: The Groves of Aspen Trails, The Meadows of Aspen Trails, and The Lakes of Aspen Trails in Liberty Township; Thornton Grove Estates in Morrow; Trails of Shaker Run in Turtle Creek Township; Forest Glen and Foxpointe in Batavia; and Sterling Estates in Hamilton. The builder has 100 lots left in the market, which it intends to complete before shutting its local office overnight payday loans. It also said it will continue to honor all warranties.
Homes range in price from $166,000 to $369,000.
The Calabasas, Calif.-headquartered company’s financial results have reflected its troubles in recent months. The firm posted a loss of $201.9 million, or $4.80 per share, in the fourth quarter of 2007. That’s compared to earnings of $87.2 million, or $1.98 a share, in the year-earlier period. Founded in 1967, it builds in 21 U.S. markets.
Ryland follows a stream of national builders abandoning their Cincinnati operations. In February, Atlanta-based Beazer Homes announced it would exit the region. Pittsburgh-based Ryan Homes, although still present locally, backed out of several northern Cincinnati communities last fall.
Filed under: legal by Finance Boss