T.H. Properties | Real Estate

UPDATE - 08/06/2010

On Thursday, July 22, the bankruptcy court approved THP’s settlement agreement with Bank of America, which allowed construction to resume at Biltmore Estates as well as completion of all public improvements at the site.

Since that time, THP, Skippack Township officials, Blooming Glen Contractors, and the bonding company have worked to finalize all legal agreements necessary to begin this work. These agreements were completed on Monday July 26, and were submitted to the court for expedited approval on Thursday, July 29. These agreements were approved without any objections at a hearing on July 29.

Blooming Glen will begin work on Old Forty Foot Road immediately and surveyors are already on site. THP has also met with township officials to finalize the completion of the exteriors of the live/work units.

Installation of all on-site improvements (including, but not limited to, site clean-up, grading, paving repair and installation, and landscaping) will commence after the expiration of the 14-day appeal period for the order approved by Judge Raslavich. In the meantime, THP can immediately obtain building permits for five units and anticipates having vendors on the site within the next few business days.

UPDATE - 03/26/2010

Biltmore Estates and Northgate Phases 2 & 3 Open for Sale This Weekend!

The Biltmore Estates sales office will be open Saturday, March 27 and Sunday, March 28 from 12:00 PM to 5:00 PM. The office is located at the intersection of Old Forty Foot Road and Skippack Pike (Route 73), the entrance is on Old Forty Foot Road. Additional details about this community can be found on our website at Biltmore Estates

The Northgate sales office will also be open Saturday and Sunday from 12:00 PM to 5:00 PM. The office is located at the intersection of Otts Road and Quakertown Avenue (Route 663). To learn about our Northgate community, please visit Northgatethp.com/

If you have any additional questions about these or any other THP communities that are available, please contact The Davidson Group at 610-584-0100.

Update - 3/10/2010

Don't miss your opportunity to use your homebuyer tax credit to purchase a THP home today!

The Worker, Homeownership and Business Assistance Act of 2009 has extended a tax credit of up to $8,000 for qualified first-time homebuyers purchasing a primary residence. A $6,500 credit is also available for qualified repeat buyers.

There are only a few weeks left to take advantage of this credit! For the purchase of your home to qualify, your contract must be signed by April 30 and you must settle on your home by June 30.

You could be on the road to owning your own home today! Contact The Davidson Group at 610-584-0100 to schedule an appointment.

For further information regarding the homebuyers' tax credit, please visit www.federalhousingtaxcredit.com or call us at 1-800-CALL-THP.

Update - 1/11/2010

THP is pleased to announce that we have signed a contract to topcoat driveways in our Hawthorne Court, Hawthorne Estates and Belmont Estates II communities.

Topcoating will begin sometime this spring, weather permitting.

We truly appreciate the patience and understanding of our homeowners as we continue to address outstanding issues in our communities.

Update - 12/16/09

Please note that Bank of America’s motion for relief from stay and THP’s use of cash collateral have been withdrawn by the respective parties. Therefore, these matters will not be heard on 12/17/09.

Update - 12/02/09

After the success of the community clean-ups at Burbank Grove on November 20 and Biltmore Estates on November 21, we are pleased to announce we have scheduled another clean-up at our Northgate community on December 4 and 5. This clean-up is once again in partnership with our vendors.

Over 40 THP employees and vendors participated in the Burbank Grove and Biltmore Estates clean-ups. Volunteers cleaned several homes, mowed open spaces and landscaped several flowerbeds throughout the two communities.

Thirteen companies also donated equipment and supplies, including several personal weed trimmers, chainsaws and wheelbarrows; three dumpsters; one skid steer loader; two brush hog rotary mowers and mulch for landscaping.

We greatly appreciate the sacrifices our vendors have made for us, our homeowners and our community, especially during these challenging times. THP is committed to improving the communities where our homeowners live, work and play.

Important Announcement - 11/19/09

T.H. Properties received final approval from the U.S. Bankruptcy Court today, November 19, to resume construction in its Burbank Grove community. We will resume construction on 185 houses, both single family homes and carriage homes.

A community clean-up is also planned at Burbank Grove on November 20 and 21, in partnership with several of our vendors. We are grateful for their continued commitment and dedication to THP and to our homeowners.

THP’s reorganization plan was also filed on October 27, which is a key milestone to meet in order to exit Chapter 11 protection. We are continuing discussions to resume construction at the rest of our communities and we are optimistic that agreements will be reached in the near future.

Once again, we appreciate the patience, understanding and support our current and future homeowners, as well as vendors, have given us during this challenging time. We will strive to provide more updates to the community as we continue through the reorganization process.

Important Announcement - 10/06/09

T. H. Properties is making progress through the reorganization process. We have resumed construction in our Belmont Estates II, Cliffside Manor, Hawthorne Estates and Westport Farm communities. Several homes have already settled with more scheduled in the months ahead.

Our discussions for resuming additional communities are encouraging and we are optimistic that we will reach agreements soon. These discussions include the removal of mechanics liens as well as the completion of outstanding items for our existing homeowners. We are grateful to both current and future homeowners and vendors for their understanding and patience through this process.

..In addition we have received Court approval to resume construction in our Kingston Hill II Phase 4 , Coddington View, and Northgate Phase I communities.

Important Announcement - 08/31/09

..In addition, we are awaiting Court approval for the agreement we reached with Wilmington Trust to resume construction at our Northgate Phase I community.

Important Announcement - 08/14/09

T.H. Properties (Harleysville, PA – April 21, 2009)

T.H. Properties, a Harleysville, PA-based developer and homebuilder, has temporarily suspended its operations and is actively exploring options to restructure its ongoing business operations. Like other homebuilders across the country, the recession and the collapse of the housing market have had a negative impact on the company’s operations. The company remains committed to an orderly restructuring of its obligations in order to continue its construction and development efforts throughout the region. T.H. Properties would like to thank its loyal vendors, valued employees, existing and prospective homeowners and the communities with which it has been operating during this difficult period.