Erickson Delays Construction of Two Retirement Communities Due To Credit Crunch

The Charlotte Observer and the St. Louis Business journal are both reporting that Erickson Retirement Communities has confirmed that it is delaying two projects in those respective areas due to the inability to obtain construction financing. Both projects are likely to be restarted once credit starts flowing into the construction markets again according to the articles. Erickson earlier this month announced that it was laying off 260 employees due to the current economic environment.