REPORT: Burien Town Square Facing Foreclosure
The Seattle Times reports that Burien’s Town Square is facing foreclosure.
According to the report:
The firm that holds the note on the construction loan for Burien Town Square Condominium filed a legal notice late last month that it intends to foreclose on the property Oct. 29 unless developer Urban Partners comes up with $3.5 million by Sept. 1 to cover missed monthly payments and related charges.
We’ve been following the travails of Town Square’s financial difficulties probably closer than anyone (read our previous coverage here), and rest assured, we’re on this news like white on rice.
We’ll have our own full, in-depth report within the next few days.
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