Godfrey village officials say the Jones Co. has halted sales at River's Edge, an 82-acre residential development launched in 2007 that was expected to have more than 300 houses.

Mayor Mike McCormick said building permits had been issued for only 61 of the 90 or 91 lots in the first of four planned phases of the project. Altogether, the company was planning 313 houses, he said. River's Edge is at the intersection of Godfrey and Airport roads.

River's Edge homeowners got a letter from the company this week that cited economic conditions for a decision to suspend sales. It said the company would honor all warranty and other obligations.

The letter invites homeowners to a meeting at 7 p.m. Tuesday in the Village Hall at 6810 Godfrey Road.

The Jones Co. is a Chesterfield-based subsidiary of Centex Corp., one of the nation's largest home builders. Centex was acquired in April by Pulte Homes Inc.

McCormick said most homeowners seem pleased with their homes and their dealings with the company but are worried about what the decision means for the future of the neighborhood. He said there are immediate concerns about vacant, unsodded lots.

The mayor said village officials would do all they can to make sure that current and future concerns are addressed. He noted that the village retains a $123,000 security bond for the subdivision.

Jones officials did not immediately respond to a request for comment.