'We Did Do Our Homework. We're Smart People,' Says Retiree — But Their Florida Builder Collapsed, Leaving Dream Homes Unfinished and Savings Drained

Core Insights - The dream of retiring in Florida has turned into a financial crisis for many families who invested their life savings with Beattie Development, a once-respected builder [2][5]. Company Overview - Beattie Development, led by Paul Beattie, accepted millions from retirees to build custom homes, with many clients selling their previous homes and moving belongings into storage based on positive recommendations and awards received by the builder [3]. Construction Delays - Construction delays began in 2022, with clients being told not to visit sites due to Hurricane Ian cleanup efforts. Many clients found that construction had not started even after a year [4][5]. Financial Collapse - Beattie Development entered liquidation, owing over $11.5 million in debt, leaving clients without completed homes and without the funds they had already paid [5]. Client Impact - Homeowners were offered minimal restitution of $240.36, which was later doubled, a figure deemed insulting by those who lost significant amounts. Some clients, like the Kramers, reported that their retirement plans were delayed by two to three years due to the financial loss [6].