Lender Wants to Foreclose on Fifty Acre Trinity River Development - NBC 5 Dallas-Fort Worth

Lender Wants to Foreclose on Fifty Acre Trinity River Development

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    Beautiful spacious six-bedroom home, centrally located in a quiet Cheshire community. In today's buyer's market, you would think a home like that would have no trouble drawing attention. At least that's what owner Marty Tyrrel thought.

    Irving based JPI bought land along Industrial Blvd. and the Trinity River to build a proposed $950 million retail and apartment complex, but now, a lender wants to foreclose on the still vacant property.

    Once the site of the Alford Refridgeration Warehouse company, the development was approved last October to contain 3,000 residential units and 400,000 square feet of retail space.

    Now, the lender plans a Feb. 3 foreclosure sale if an agreement isn't reached with the developer.

    Read more on this story from the Dallas Morning News