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Wensmann Homes - Minnesota home builder / developer

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2008-11-13

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stories: thisweeklive.com

Minnesota home builder and developer Wensmann Homes (wensmann.com)has "closed its doors on Nov. 7" after some 40 years building homes, reports thisweeklive.com. The builder is one of Minnesota's "largest residential builders and developers."

Wensmann Homes had been planning a community of nearly 500 mixed-use housing units around the Carriage Hills golf course. However, the project got held up in local bureaucracy leaving the golf course defunct and the Wensmann project on hold.

At this time, we are unsure how many employees will be affected by this closure. We also have not been able to quantify what Wensmann's peak closings were. If you can provide any of this inforamtion, please comment below or email us.

For some additional scuttlebutt on this implosion, check out Alex Stenback's blog behindthemortgage.com

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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.