Aug
22

Amenities Out Of Myrtle Beach Plans after Builder’s Bankruptcy Filing

By
August 22, 2008

By Jessica Foster – The Sun News

Crews have resumed construction on some of the houses at Seasons at Prince Creek West, a Murrells Inlet retirement community that was left partially built and uncertain of its future when developer Levitt and Sons filed for bankruptcy last year.

Now, because of a deal that the troubled home builder struck with creditor Wachovia Bank, people who had put deposits down on homes there can finally see them finished. But there are no plans to build the amenities for the neighborhood, including a clubhouse.

“We were about five days from closing” when Fort Lauderdale, Fla.-based Levitt and Sons went bankrupt, said 67-year-old Jackie Kateridge. It’s been a long wait, but Kateridge and her husband finally got to move into their four-bedroom, $383,000 house last week, she said.

“I’m thrilled to death,” she said. “I think it’s a great community. The people are wonderful, and there’s always something going on here.”

Wachovia is financing the construction in the Murrells Inlet community and six others left in the lurch from Levitt’s Chapter 11 filing in November, said Soneet Kapila, the court-approved chief administrator for those developments.

Five homes have been finished in Seasons since the deal was struck, and six to eight more are on the roster, said Jeff Pritchard, project manager with Atlanta-based John Wieland Homes.

“We don’t have a number [of homes] fixed,” Kapila said. “It depends on how many people would like their homes built.”

Still, with only about 100 homes in the community and no amenities, some residents say it isn’t quite what they signed up for when they invested there. Initial plans called for 460 houses and a 27,000-square-foot clubhouse and sports complex equipped with a pool, tennis courts and arts and crafts center.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.myrtlebeachonline.com/business/story/564517.html
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