C.P. Morgan's stay in Greater Lafayette controversial

By Max Showalter, Journal & Courier

mshowalter@journalandcourier.com

A company that generated a lot of new home construction as well as some bitter feelings in Greater Lafayette during the past five years is going out of business today.

With a marketing plan that attracted many first-time homebuyers, C.P. Morgan Homes Inc. entered the local market in 2003. But it wasn't able to survive what founder Charles P. Morgan termed "the collapse of the real estate industry," which has led to massive foreclosure actions across the country.