It may be early August before any decision is reached whether construction can resume on the stalled Kenwood Towne Place project in Sycamore Township.
Attorneys for subcontractors and developers met Thursday morning in the courtroom of Hamilton County Common Pleas Judge Steve Martin.
They discussed a possible settlement of more than $50 million dollars in mechanics liens, but indicated that no deal has been reached. Judge Martin told them to try again and set a new court date of August 3rd at 8:30 a.m.
Later Thursday in the courtroom of Magistrate Michael Bachman, a decision on whether to appoint a receiver for the project was delayed, pending the outcome of negotiations. Magistrate Bachman set another hearing for August 3rd at 11:00 a.m.
Attorney Tom Yocum represents 12 subcontractors who have filed $6 million dollars worth of mechanics liens. He says either a settlement or naming a receiver would allow work to resume.
"A receiver would take possession of the property and would have the ability to do whatever is necessary to maintain the property or resume construction or possibly sell the property through foreclosure," Yocum said.
The Bank of America has sued developers for foreclosure.
Bear Creek Capital is developing the multi-story project with Neyer Holding Corp and Dov Ltd.
Tenants already open for business include Kroger Fresh Fare, The Container Store and Crate & Barrel.
