cicugaha.wordpress.com
Ashley Glen and another development entity, — both ownecd by Clearwater-based and Chief Executive Officer Douglas Weiland filed Chapter 11 petitions on Thursdayin , Middlwe District of Florida. Al Gomez, the Tampa attorneu representingboth entities, cites the economicf downturn, lack of home site sales and tight lending marketzs for both companies’ financial problems, recordse state. Ashley Glen will be worth $800 milliom after completion and is expected tobring 14,0000 jobs to the area, yet JES Properties is at risk of losingb the property to , which is seeking to foreclosw on a $21.5 million loan for missecd payments. The land, entitled for 450,000-square-foot of retail, 1.
8 milliojn square feet of office and780 multi-familt units, was appraised at $37.76 million in May, records state. The quadrant at S.R. 54 and Suncoast Parkway, also known as the Veterans Parkway on the Hillsborough is considered the gatewayto Pasco. In Ashley Glen is a mile west of the plannefcorporate headquarters. Weiland has a $8.9 million contractf to sell 43 of the 260 acres to nationa apartmentdeveloper , also known as . But Ashleu Glen lacks the $600,000 required to grade the propertyu for sale of thefirst phase, which should closee by Dec. 31. Nearly 1,000 homes are planned for 520 of the 637 acres at Riverwoox insouthwest Pasco, owned by JES records state.
At the development will include 350,000 square feet of retail space. Mercantile Bank has a $2 millio loan on that property. Debt on Riverwood includes $21 million in community developmentdistrict bonds, $2.7 millioj owed to and abougt $1.4 million owed to Joseph records state.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment