CHANDLER – A subcontractor that worked on the idle Elevation Chandler has filed a foreclosure lawsuit against the developer in an attempt to force the sale of the property.
Suncoast Post-Tension of Houston filed the lawsuit in Maricopa County Superior Court last week. Construction stopped in April on the hotel-condo tower being developed by Jeff Cline south of Chandler Fashion Center. The first eight floors of the tower are slated to be a Renaissance ClubSport hotel, with condominiums on the top two floors.
The defendants listed on the lawsuit are the developer; the general contractor, Weitz Co.; the mortgage lender, Mortgages Ltd. of Phoenix; and seven subcontractors.
It doesn’t mean the subcontractors are being sued. State law requires that such lawsuits list everyone who claims an interest in the property.
The mechanic’s liens recorded against the property total $5.8 million, the amount unpaid to Weitz and the subcontractors. The lawsuit doesn’t necessarily mean the property will be sold or that it will be tied up in court.
Attorneys have several options, said construction attorney Karen Hunsaker, who is not involved with the project. Financing could also come through. Cline has been saying for months that financing was nearly in place to continue the project.
Luci Scott – The Arizona Republic
