Developers in the news … the lawsuit news

Daddy Warbucks

Developers in the news … the lawsuit news

Looks like a flurry of lawsuits is in the works over the Ruskin Heights development in east Fayetteville. The project that was touted as bringing “new urbanism” to our fair city is a sad looking sight these days. Metropolitan Bank is the latest to enter the lawsuit fray with an $8.3 million dollar foreclosure over the 29-acre hillside that was zoned mixed use to accommodate “the vision.”

Developer Gary Combs is back in the foreclosure lawsuit news, this time over his Lover’s Lane LLC. Metropolitan Bank is after a $2.9 million note on an 11,0000 square foot home and some 7 acres in east Fayetteville.

And then there’s the Bank of the Ozarks and its foreclosure action against Rainbow Junction a 28 lot commercial development up in Bentonville. The lawsuit names William Lazenby and Donel Heckathorn.

And, the biggest number in the bankrupt market is $63 million. That’s the amount that the once high-flying, luxury digs developer Brandon Barber is claiming in his recently filed bankruptcy. There are about 50 or so creditors holding paper, so there will be a long line at the courthouse. Daddy W. noticed the big “B” (as in Barber) that branded Barber’s hi-rise condo, The Legacy, that towers over Dickson Street came down last week. It could have been left up as signage for “B” as in bank, since “the bank” owns the nearly empty space now. Daddy W. also hears the young developer is back on the market … the bachelor market, that is.

Revenue on the skids

Looks like the state of Arkansas is continuing its decline in revenue. The amount of dollars coming into the state coffers has fallen 3.9 percent from the same month last year. That’s down about $16.4 million. This is the seventh month of the last eight that state revenue has declined. And as Daddy W. has mentioned many times before, we all know, things are bad everywhere for individuals and governments, that’s state, local and federal. But we can all be glad that we do NOT have deficit spending in Arkansas state government. Can’t say that for several other states right now.

BYE, BYE ALLTEL

All the Alltel signs and Alltel storefronts in our area are gone and up are the Verizon signs and storefronts. It ‘twas to be expected once the merger was complete. The only remaining Alltel branding that Daddy W. knows of is on some of the phones. Maybe they’ll be collector items someday.

MOVIN’ ON UP

The paperwork has been filed to move the liquor license for the Greenhouse Grille from its old home at 318 S. Archibald Yell Ave. to 481 S. School St. One could almost throw a baseball from one spot to the other. The move is set to take place soon. More room. Bigger digs for the popular Fayetteville eatery.

OIL RISES

Get ready for a blip at the pump. Oil prices have topped $70 and look strong for the next couple of months. That will only make the retail price jump even more. Just watch and see.

ONE AVAILABLE

Looks like there’s a rare occurrence … a vacant liquor license in Washington County. Who wants it? Daddy W. expects that there will be a mad scramble for it. Whomever they are, they had better hurry. A flurry of paperwork and deposit are required by Sept. 21.

FIRE NOW RASPBERRY

Once the scourge of Texas, the fire ants eventually made their way up to Arkansas, just like the Armadillos did. The next pest from the Lone Star state headed our direction are the raspberry crazy ants. No joke. Let’s hope these little critters don’t get to Arkansas. Really.