Pulte pulling out of Anthem

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Pulte pulling out of Anthem

Postby Dave » Wed Dec 28, 2011 11:58 pm

On 12/28/11 I received an email from Pulte (delivered through the portal) indicating that Pulte is pulling out of Anthem Highlands and Anthem Ranch. It states they have sold all the undeveloped land to Wheelock Street Capital LLC.

My preliminary investigation indicates that Wheelock has only been around since 2008.

Any idea what is going on? Pulte stock is down a lot (like 80 or 90%) in the last 5 years and they have also reduced their workforce by about 80%? Anthem Ranch in one of the hottest properties in Colorado? Why would a company sell such a jewel? Looks like they need cash.

What does all this mean for us? Will Wheelock keep subsidizing the HOA?
Dave

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Re: Pulte pulling out of Anthem

Postby Dave » Thu Dec 29, 2011 8:48 am

Here is the letter. Click on it to see a larger, easier to read, version.
Attachments
Pulte.jpg
Dave

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Re: Pulte pulling out of Anthem

Postby Bmused7 » Thu Dec 29, 2011 9:13 am

This news is unsettling. I will do some digging to see what I can find out.....
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Re: Pulte pulling out of Anthem

Postby Dave » Thu Dec 29, 2011 12:46 pm

I went to Men's Coffee today. Unfortunately, I had to leave at 9:45 for an appointment.

Anyway, some members of the HOA board were there and they filled us in on what they knew. They found out about all this about the same time as the email went out.

Apparently, the company who bought the land has committed to keep the HOA subsidy going. All homes that are under contract and/or in process will continue to be built by Pulte.

It sounds like the new developer wants to bring in multiple builders to offer a wider variety of homes. They indicated that Pulte 'might' be one of the builders.

If anyone was there and heard more information please reply to this thread.

As I find more information I will post it here.

Dave
Dave

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Re: Pulte pulling out of Anthem

Postby Dave » Thu Dec 29, 2011 12:52 pm

Dave

I have no affiliation with any "Anthem Colorado, LLC", builder, developer, management company or HOA board.
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Re: Pulte pulling out of Anthem

Postby Dave » Thu Dec 29, 2011 12:55 pm

It looks like the workers are continuing to work on all houses in progress but the big dirt movers have been idle for two days now.
Dave

I have no affiliation with any "Anthem Colorado, LLC", builder, developer, management company or HOA board.
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Re: Pulte pulling out of Anthem

Postby Dave » Thu Dec 29, 2011 1:20 pm

Below is an email that Wheelock sent out.
Attachments
Wheelock Invitation.jpg
Dave

I have no affiliation with any "Anthem Colorado, LLC", builder, developer, management company or HOA board.
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