The building company will meet with creditors and the Victorian government following the sudden death of its founder and CEO Mario Biasin.
Metricon employs 2500 workers and has 4000 homes under construction.
Some of the projects have been finished, while others are under construction or waiting to start.
Metricon’s acting chief executive, Peter Langfelder, has insisted the company does not have solvency issues.
“Metricon is a strong, viable business without any solvency problem,” Langfelder said.
He said it was dealing with its regular business issues more sensitively because of the sudden death of 71-year-old Blasin on Monday.
Australia’s recent housing boom had also driven prices of materials and labour up, he said, however the uptick in building appears over, at least for now.