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# Some services including Mortgage, Insurance and Title & Settlement are provided by the Long & Foster Family of Companies. In Stafford Township, Kara Homes was developing The Landings at Manahawkin until the company's bankruptcy. Now it looks as though completion of the project may be on the horizon. Residents will not have as many paths on which to walk and there will be fewer trees to shade them from the sun, and the township eventually will have to repair stretches of some roads that were to be upgraded by the developer as part of the project. Maplewood Homes took over at The Landings at Manahawkin after Kara Homes filed for bankruptcy in 2006.
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Wow, only 1 of 4 of the same Remmington model in the Island Woods area, 2nd largest in size and was built by Kara Homes. Original owner paid extra for this premium lot, had many upgrades when purchased including solarium. Split bedroom floor plan upstairs, has a potential bedroom or study/office on 1st level, in ground pool, 3 car garage, full basement, large dinning room, two story family room, each bedroom has access to a bathroom on upper level. Horizons at Woods Landing was not the only project stymied by Kara Home's bankruptcy. Work on other Kara Home developments, including some in Ocean County, also came to a halt.
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To be renamed Maplewood Homebuilders, the company will complete construction at 11 Kara Homes developments, finishing 130 homes that are under contract. "Times have changed since this project was approved in good economic times," said Mayor Nelson Gaskill, a Planning Board member. Planning boards can consider economics to some degree with considering projects, he said. From the Garden State Parkway, motorists could see construction that was once booming suddenly at a standstill. The development was like a ghost town - no doors on the fronts of the homes and rows of unfinished units. Since Maplewood Homes assumed control of the development in October 2007, the roads have been cleaned up and landscaping completed, and a small crowd of residents lounged Saturday afternoon by the pool.
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"When housing was going great guns and they were achieving substantial profits, were willing to commit to improvements they could make economically," Planning Board Chairman Gordon Dahl said. "When the housing prices weren't what they were three or four years ago, the economics of the project are different. It changes the whole dynamics of what a board can ask for and what developers are willing to pay." An unfinished building basement and almost finished condominium apartments in the background. The Horizons at Birch Hill development by builder Kara Homes in Old Bridge in March. Kara Homes filed for Chapter 11 bankruptcy protection in October and left homes in various states of construction.
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Fenmoor attorney Steve Nehmad said the company wants to start the work as soon as possible, even though "residential construction has literally ground to a halt." Margaret Shank-Knap is one of Horizon at Woods Landing's first residents, moving into her Lewis Drive home in April 2005. "The economy has been difficult, and the whole market is totally changed. Kara was the first to go under of all the builders because they spread themselves too far," she said.
Since Maplewood took over, roads have been cleaned up and landscaping completed. Save this search to get email alerts when listings hit the market. Who can bring your project to life not only right and on schedule, but who is willing to go the extra mile so you are left in awe when you see the outcome. Licensed expert contractors in Manahawkin provide high-quality services promptly at an affordable price, working closely with you to make sure you are fully satisfied with the results. Trusted, licensed warm and friendly same day services in Manahawkin which means emergency roof repairs and installations as well as bathroom and kitchen remodeling. Also interior and exterior painting, major fire and water restorations, flooring and tile installation as well as general contracting by licensed professionals.
While Fenmoor, the township and the Horizon at Woods Landing residents association still must wrap up some details regarding the project, local officials and people living in the development are feeling better that the project will be finished. And now, even though signs indicate the housing market is stabilizing, local governments are dealing with developers looking to finish projects as inexpesively as possible. Bankruptcy Court for the District of New Jersey transferred control of 12 Kara-related projects to Maplewood Homebuilders, including two in Little Egg Harbor Township as well as The Landings. But the township is making concessions on these types of requirements to help a new developer complete construction of the neighborhood, which has sat unfinished since Kara Homes filed for bankruptcy in 2006.
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The Hamilton Township Planning Board on Thursday agreed to allow a new developer - Lakewood-based Fenmoor Homes at Woods Landing - to build the final 106 homes. The board granted Fenmoor, a contract purchaser working with the bank that foreclosed on Kara Homes, most of the cost-cutting measures officials said would allow it to build the remaining 106 homes. Home resales have fallen 38 percent and sales of new homes have tumbled 76 percent since the real estate boom in 2005 and 2006. And for the first time in more than four decades of record keeping, home prices have posted consecutive annual declines. The company will be led by a group that includes Lakewood developer Glen Fishman, who is also active in Asbury Park's redevelopment efforts. With the plan approved, Fishman and Plainfield Specialty Holdings II Inc., a Greenwich, Conn.-based hedge fund, will take control.
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