Lien on me: How one high rolling firm's troubles trickle down
In September, Church Hill Homes announced that a Richmond-based firm was swooping in to purchase nearly a dozen of its properties in the massive green development off Rio Road called Belvedere. A month later, more than a dozen of Church Hill's other properties fell into foreclosure.
Even with that evidence that Church Hill has been struggling for months, the amount of economic pain that has trickled down from its failure comes as a rude shock: over a dozen subcontractors– many of them small, locally owned businesses– claim they are owed hundreds of thousands of dollars. It's money that they say they desperately need, but which they believe they will never see.
"You build trust up, and all of a sudden, they take that trust and misuse it, abuse it," says Ricky Shifflett, who recently dipped into savings to keep his employees from getting pink slips after Church Hill failed to pay the $35,000 he was expecting for laying tile.
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Ray Phillips of the Expresso Italian Villa hoists the winnerPHOTO BY RYAN HOOVER Can Charlottesville serve up a decent gyro? I was craving this Greco-American sandwich and ...
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Full Stories List for October 23rd, 2008 issue #0743
DR HOOK- Hocus pocus: Even ‘magic' pills have side effects
THE SPORTS DOCTOR- Ousting Joe: Why Penn State's wins are sealing Paterno's doom
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