Printer Friendly

Changing directions.

Changing Directions

Fort Smith-based ERC Properties, Inc., one of the largest single family home builders in the Southwest, is getting out of the single family housing market. The decision was made May 3.

President Rod Coleman says the volatility of interest rates and changing lending requirements have made it hard to turn a profit in the affordable housing ($50,000 range) market, the cornerstone of ERC's business.

ERC has built thousands of homes in Arkansas and Oklahoma, among them 125 houses in Little Rock's Pointe West and 100 houses in the Rolling Oaks subdivision of Maumelle. In fact, the company will be selling off about 40 undeveloped lots in Maumelle.

ERC now plans to expand its efforts in multi-family housing and property management. It presently owns and/or manages $100 million worth of multi-family property in this region.
COPYRIGHT 1991 Journal Publishing, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:ERC Properties Inc. gets out of single family housing market
Publication:Arkansas Business
Date:May 13, 1991
Previous Article:Superior Credit Services.
Next Article:Money in the vault.

Related Articles
Little Rock builders dominate market for larger, more expensive homes.
Home makers.
ERC'S Calhoun: From the Outside In.
Go reconfigure.
Apartment plan cut by Wynne city council. (NE Journal).
ERC makes plans for River Valley project.
Maumelle acreage.
ERC hires Texas property management firm.
Issues behind the icon: there are few symbols more recognizable than the white-framed, blue square that features a simple wheelchair icon. It...

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters