History
The company was founded by Charles P. Morgan in Indianapolis, Indiana in 1983. The company had built more than 24,000 homes in over 150 communities before going out of business in 2009.
The company used the Rayco Model, which uses centralized management systems and buyer-driven concepts to streamline the home building process.
In 2004, the company expanded to Charlotte, North Carolina, and in May 2007, CP Morgan continued their expansion by moving into the Piedmont Triad of North Carolina. Due to economic strain, CP Morgan pulled out of the triad effective November 19, 2008.
In 2009, the company announced that it would be going out of business, citing the poor housing market as the reason why. Operations ceased February 27, 2009, leaving hundreds of homeowners in the lurch.
Read more about this topic: CP Morgan
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