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 OnlyAre you enjoying your subscription?
Your subscription gives you unlimited access to all of The Daily Memphian’s news, written by nearly 40 local journalists and more than 20 regular freelancers. We work around the clock to cover the issues that impact your life and our community.
You can help us reach more Memphians.
As a 501(c)(3) nonprofit organization, we provide free news access at K-12 schools, public libraries and many community organizations. We also reach tens of thousands of people through our podcasts, and through our radio and television partnerships – all completely free to everyone who cares about Memphis.
When you subscribe, you get full access to our news. But when you donate, you help us reach all Memphians.
Pay it forward. Make a fully tax-deductible donation to The Daily Memphian today.
Thank you for reading the local news. Thank you for investing in our community.
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.
Want to comment on our stories or respond to others? Join the conversation by subscribing now. Only paid subscribers can add their thoughts or upvote/downvote comments. Our commenting policy can be viewed here.