Laurel Cove construction is halted according to the nashville business journal, Problems with the investment banking firm, Lehman Brothers Holdings Inc. last month has halted construction of Laurel Cove, the Greg Normal golf community in Williamson County,
Laurel Cove - is one of the largest active residential projects in Middle Tennessee at 1120 acres and will be on hold indefinitely after the bankrupt Lehman defaulted on its $121 million construction loan for the project.
Laurle Cove's developers, Tentara Partners and Legacy Properties, say construction will be delayed while they work on assuming the existing loan from Lehman.
"We want to assure the public that Lehman Brothers Holdings Inc. has no ownership in the project," Philip Jones, president of Tentara Partners, says in a statement to the Nashville Business Journal. "We anticipate a four to five month complicated negotiating process with the Lehman Bankruptcy Trustee."
If you are interested in golf course homes in Williamson county, click on the button. or call Larry Brewer at keller William 615-512-7853.
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Interesting post, Larry. Thanks. I had no idea the Lehman Bros. failure reached all the way to us here in Franklin. Hope they can get it straghtened out soon!
Hope you got to enjoy Pumpkinfest today in downtown. Our family also went and got a pumpkin from Gentry's farm...very fun!