Story Mill Developer Files Personal Bankruptcy
By Jonathan Weber, 2-17-09 from the NewWest Bozeman Online Resource
The developer of the much-touted Story Mill development in Bozeman, Matthew R. Crocker, has filed for personal bankruptcy, according to court records.
Crocker, the son of embattled Yellowstone Club owner Edra Blixseth, had envisioned a major mixed-use development at the site of the historic Story Mill on Bozeman's north side. The project won approval from the city, but funding dried up in the wake of the financial crisis at the Yellowstone Club and the real estate meltdown.
Crocker and his mother co-signed a $13 million loan with a Colorado finance company, Western Capital Partners, which is now in default. All work on Story Mill has been at a standstill for several months and its not clear if and when foreclosure proceedings or other legal action on the property might begin.
Crocker could not be reached for comment. The phone number listed on the bankruptcy filing is not in service. The Feb. 13 filing included few details but estimated that he had between 200 and 999 creditors and between $1 million and $10 million in assets.
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