Newspaper article St Louis Post-Dispatch (MO)

Lafayette Square Project on Praxair Site Dead as Pulte Exits Market

Newspaper article St Louis Post-Dispatch (MO)

Lafayette Square Project on Praxair Site Dead as Pulte Exits Market

Article excerpt

A proposal to build over 60 town homes on a vacant industrial site in Lafayette Square is dead after Pulte Group announced it would leave the St. Louis market.

The Atlanta-based homebuilder said it will finish building out its remaining projects. But a spokeswoman said in an email that it does not "plan to invest in any future land acquisition activities, including the Lafayette development."

"Following a detailed review of our competitive position, we have determined that the market dynamics are not conducive to running a return focused business, which is a top priority for the company," according to an a statement from Pulte. "We will continue to sell and build houses to finish out all of our nine actively selling communities with half of those already nearing closeout which we expect to be through December 2018."

Pulte Group, with local offices in Chesterfield, is one of the larger homebuilders in the region. It has 23 local employees, and it said a majority will continue to be employed through 2018. …

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