Foreclosure filed against Turner's Westport property

Citigroup IncorporatedPatrick TurnerPatapsco

Citigroup Global Markets Realty Corp. has filed a foreclosure case against the development group that was planning to revitalize the waterfront in Baltimore's Westport community.

Companies affiliated with developer Patrick Turner borrowed $30 million from Citigroup in 2007 to finance a massive mixed-use development along the Middle Branch of the Patapsco River's western shore, just south of Interstate 95.

In a court filing last week, Citigroup alleged that Turner's companies owe $31.8 million on that loan and therefore the bank is moving to foreclose on the property.

Citigroup appointed local trustees for the land in July, signaling that they were considering a foreclosure filing.

Turner, who did not immediately respond to a request for comment Monday, said in September that he is seeking new financing and still intends to move forward with the urban renewal project.

steve.kilar@baltsun.com

twitter.com/stevekilar

Copyright © 2014, Los Angeles Times
Related Content
Citigroup IncorporatedPatrick TurnerPatapsco
  • Developing revival of Westport has profit, pitfalls

    Trucks rumbled noisily past Velma Wright's rowhouse on Annapolis Road, drowning out conversation as she sat on her porch in the afternoon heat. Her block in Westport is scarred with boarded-up homes. Discarded junk fills overgrown backyards. Across the busy street, the little candy and...

Comments
Loading