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This article was originally published on Nov. 5, 2014.
By Bellingham Business Journal staff
The North Carolina firm that broke ground on a 216-unit apartment complex in Bellingham last month may not finish.
After applying for permits for a 10-building project with an estimated value of more than $30 million, Campus Crest Construction announced in a press release on Nov. 4 that it will be “discontinuing all construction and development.”
The company is going through a “strategic repositioning,” according to the press release, that includes simplifying its business model and laying off 45 people. The company’s CEO, Ted Rollins, resigned and was replaced by Richard Kahlbaugh as interim CEO. Donnie Bobbitt, Chief Financial Officer, also resigned.
A Campus Crest representative declined to comment on whether the project between Interstate 5 and Lincoln Street, South of Lakeway Fred Meyer, would be finished,. The company began construction on stormwater retention ponds in October.
Campus Crest Construction, doing business as The Grove, operates apartment complexes geared toward college students throughout the country, including in Pullman, Ellensburg, and Cheney, Washington.
The Grove’s slogan is “fully loaded college living,” and all Grove complexes have 24-hour fitness centers, tanning beds, and a variety of other amenities.
There are multiple projects going on south of Fred Meyer. The Grove was at the northeastern edge of the area between Lincoln Street and Interstate 5.