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The End of Suburbia's Beginner

a Dry Dipstick commentary



 

The Circle is Closed - The End of Suburbia's Beginner

In a little noticed news item, it was reported on November 11th ("Levitt and Sons files Chapter 11") that Levitt and Sons, a builder in Fort Lauderdale, Florida, had filed for bankruptcy under Chapter 11 on November 9th.

According to the company's SEC filing, the company had defaulted on more than $300 million in loans from Wachovia Bank and KeyBank.

Levitt and Sons (www.levittandsons.com) isn't just any builder, of course. It happens to be the inventor of post-World War II suburbia, when it created Levittown on Long Island in 1949. It went on to build more than 200,000 homes in the United States, Canada, Puerto Rico and Europe.

In a related (kind of) item, the Levittown Tribune on November 30 reported "Suozzi Announces Public-Private Partnership to Turn Levittown 'Green'" that Nassau County Executive Thomas R. Suozzi recently announced a public-private partnership to make Levittown, America's first suburb, America's first green suburb by reducing Levittown's carbon footprint by 20 percent in 2008.

The partnership with local and national companies would "make it easy and affordable to install new boilers, make energy-efficient home renovations, utilize bio-fuels, solar heating and to purchase innovative, inexpensive products to quickly reduce home fuel consumption." Suozzo said that he hoped his program "would provide a template for suburbs throughout America".

Copyright © 2007 Mick Winter