Lake District owner looking to sell parcels, lure commercial users
Work is also still halted on the townhome portion of The Lake District where several model homes have sat partially completed for more than 18 months. (Brad Vest/Special to The Daily Memphian)
Predevelopment activity is slowly increasing in portions of The Lake District, the troubled 160-acre mixed-use project south of the Canada Road-Interstate 40 interchange in Lakeland.
Much of the work at the property has stalled since developer Yehuda Netanel filed for bankruptcy. A foreclosure sale took place on May 14 of this year with TIG Romspen US Master Mortgage LP ultimately acquiring the property back from the bank for $26.5 million.
City Manager Michael Walker told the city’s Industrial Development Board Thursday, Oct. 24, he met with a representative for the landowner this week.
Topics
The Lake District Lakeland Industrial Development Board Richard Gonzales Yehuda Netanel Subscriber OnlyThank you for being a subscriber to The Daily Memphian. Your support is critical.
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Michael Waddell
Michael Waddell is a native Memphian with more than 20 years of professional writing and editorial experience, working most recently with The Daily News and High Ground News.
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