Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet Moore.

Recession claims a homebuilding giant: Rottlund Homes

Posted by: Jim Buchta under Buying Updated: November 17, 2011 - 2:39 PM

The recession has claimed one of the nation’s largest home builders. Twin Cities-based Rottlund Homes is preparing for liquidation. The company will finish building its remaining homes and then will cease operation.

Rottlund has been in business more than 40 years and has deep ties to the Twin Cities. It was founded in 1973 by brothers David Rotter and Roy Lund and was well-known for building hundreds of townhouses in the Twin Cities at a time when they were relatively unusual. The company has also done a lot of business in Florida and Iowa.

Rottlund was badly hurt by the recession. It built 20,000 Twin Cities homes in 2006 but only about 4,000 in 2009 and roughly 5,000 in 2010, Vice President Mike Swanson said in a December story.

"With business being off 60 to 80 percent, there is 60 to 80 percent [fewer] people getting work right now," Swanson said at the time. "A lot of them have left the industry and are not coming back."

Will you be affected by the closing? Send an e-mail to janet.moore@startribune.com.

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