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Friday, April 16, 2010

Bear Creek Saga Continues - No Hope of Progress on Newport Pavilion

The Cincinnati Business Courier reports this morning in their print edition that Bank of America has filed suit against Bear Creek on the Newport Pavilion shopping center and indicates that a request for receivership was denied on Wednesday.

This is very bad news for any hopes of adding retailers to the complex anytime soon.  Bank of America has been embroiled in a dispute with Bear Creek over the Kenwood development for over a year and it has turned into an ugly soap opera that continues with an additional hearing this morning in Federal Court.

The article indicates that there are over $37 million in debts on the Newport Pavilion complex and until a receiver is named there is really no hope for progress on the site.  Stay tuned as I am sure there are more twists and turns in this story to come.

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