Erickson backs out
Worsening economic conditions cited as reason for decision not to move forward in Matthews
Owners of one of Matthews largest tracts of undeveloped land, and the hard-won rezoning of that land, could not withstand the worsening economic conditions in the country. So they’ve pulled out of the 2007 multi-million dollar deal with the town.
The recent decision by Erickson Retirement Communities to sell its Matthews property profoundly alters the town’s economic landscape.
“The continuing national economic downturn and frozen credit markets have created a situation where it is in our best interest to explore all options with the...
