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Classic Stellar Homes - Arizona Luxury Home Builder

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2009-01-06

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Phoenix, Arizona-based Classic Stellar Homes (website: classicstellarhomes.net filed for Chapter 7 bankruptcy protection per notice 9B filed 1/06/09. Classic Stellar describes itself on their website:

Truly, Classic Stellar is the genuine article. Building super energy-efficient luxury custom homes throughout the Phoenix Metro area since 1990, Classic Stellar Homes are built with a high degree of quality and old-world craftsmanship rarely found in homes today. Ken and Tom Dannenbaum and Steve Hedden, operators of Classic Stellar Homes, say the core of their success lies in the marriage of superior style and unmatched quality with unparalleled energy efficiency.

Our anonymous tipster supplied the following information regarding Classic Stellar Homes:

They only build ~50-70 custom and semi-custom homes per year. They are a small but high-end ($1M-$3Million) builder with a fantastic reputation for quality and energy efficient homes. They are a member of the Scottsdale Green Building Program and have been building homes since 1990.

We are uncertain at this time how many employees will be affected by this filing. If you can provide any additional information regarding Classic Stellar, please comment below or email us.

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Important: This company is on our list of builder operations that have "imploded" (see also ailing lenders). This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid declines in enterprise value; or abnormal "bail-out" by corporate parents or peers in order to continue to operate. The builders may be residential or commercial.