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THP To Finish Homes At 2 Montco Developments
THP has reached agreements with lenders on two stalled Montgomery County housing developments, Biltmore Estates in Skippack and Northgate in Upper Hanover. The Lower Salford-based company says Bank of America and other lenders have finalized an agreement to let the builder finish 514 homes at Northgate, and an agreement to let it finish 106 homes at Biltmore should be finalized by the end of the month. Partner Tim Hendricks says this is a huge step forward as the company moves toward repaying creditors and emerging from a Chapter Eleven bankruptcy reorganization that has been going on for about two years.