Taylor-Morley Homes defaults on $16 million loan
Taylor-Morley Homes, one of the area’s largest home builders, has allegedly defaulted on a $16.5 million loan according to a suit filed last month by Southwest Bank of St. Louis. According to the St. Louis Business Journal, Taylor-Morley’s revenue took a hit last year after several years of growth. The Chesterfield-based home builder 2006 revenue was $74.7 million in revenue, down from $114.7 million the previous year. Taylor-Morley currently has 16 new-home communities on the market in St. Louis and the Metro East, down from 28 in March.
Source: St. Louis Business Journal
