Jan
06

Watson Hill Developer Faces Foreclosure

By
– Charleston Regional Business Journal

The developer of the Watson Hill property, caught for 3 1/2 years in an annexation battle between North Charleston and Summerville, now faces foreclosure on a $28.6 million loan.

The foreclosure action, filed Dec. 31 in Dorchester County court, came two weeks after the city of North Charleston and the town of Summerville at last settled the lengthy legal fight.

The two municipalities filed a settlement agreement Dec. 15. Summerville agreed to drop its claim that North Charleston’s annexation of a parcel of land contiguous to the Watson Hill property was improper, making the city’s annexation of the Watson Hill tract invalid.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://charlestonbusiness.com/news/26064-watson-hill-developer-faces-foreclosure
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