Business

Developers to sell high-end project

The developers of a high-end Lancaster County community are selling the project, citing banks' tightening lending standards.

The Regions of Bretagne, a 300-acre gated community, will likely be sold to a New York private-equity firm, said Troy Ludemann, a principal at The Ludemann Group.

Ludemann, who did not name the firm, said the project's developers have had to seek alternative funding because of tightening lending standards. He expects construction to resume next month.

When complete, Bretagne will feature 400 European-themed homes. Developers have promoted the subdivision with wine tastings and helicopter tours and said they've gotten more than $20 million in presales so far.

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