Stoner Homes turns homebuilding over to Philgreen Construction

FORT COLLINS – Stoner Homes, a division of Stoner and Co., has ceased building homes and owner Jay Stoner has agreed to turn homebuilding over to two former employees, Dave Phillips and Mitch Greeno, who have formed Philgreen Construction.

“Stoner Construction is not constructing homes now,” Stoner told the Business Report Daily Tuesday. “We’re still doing warranty work and still have lots but we did not go out of business. Philgreen is the company that will be building homes. I’ll still be involved in marketing and financing and helping out the company.”

Stoner said the move to turn the home construction part of his business over to Phillips and Greeno has been under discussion for some time and the final decision to do it took place in November. Phillips has been involved in home construction for 30 years, 25 in Northern Colorado and Southern Wyoming. Greeno has been employed by Stoner since 1999 and has 15 years of construction experience in Colorado and Wisconsin.

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“We’ve known each other for years and we’re all friends,” Stoner said of Phillips and Greeno, who will own and operate the new entity totally separate from Stoner and Co.

“I think the important thing is we are a totally separate company and not a reorganization,´ said Phillips. “I think we see an opportunity to explore some new areas of building, with more commercial and green-built houses.”

Stoner said all existing contracts have been signed over to Philgreen Construction with the approval of homeowners. He said Stoner Homes and Philgreen Construction will work together to honor warranty work.

Stoner’s mother, Dorothy Stoner, started the construction business in 1952. His brother, Ed Stoner, owned the business from 1977 to 1988, when Jay Stoner bought out his ownership.

Stoner said his decision came after some personal reflection during the economic downturn. “In times like these, you tend to look in the mirror and say, ‘What are you really good at?'” he said. “I realized Dave and Mitch are really good at building homes and have great relationships with subcontractors and I’m really good at sales and financing.

“So I’m going to do what I’m good at and they’ll do what they’re good at and it’ll be a symbiotic thing,” he said. “It should make us all more productive.”