Swamplot is hearing a couple of unconfirmed items about Wilshire Village, the 7.68-acre site at the corner of West Alabama and Dunlavy that’s sat vacant since the 70-year-old yellow-brick garden apartment buildings long left to decay on the site were cleared of their pesky tenants and torn down last year.
First comes a source telling us that on February 2nd the property was somehow foreclosed on — despite the fact that the the owner of the property, an entity called Alabama & Dunlavy Ltd., declared bankruptcy back in November for the apparent express purpose of avoiding such an event.
The next item is even more fun: There’s a lawsuit!
Its title: Alabama and Dunlavy LTD v. Wedge Real Estate Finance LLC, a “Tortious interference suit in which the defendant has purposefully interfered with the plaintiff’s efforts to sell a property and pay off notes held by the defendant so that the defendant can foreclose on the property.” It was filed on the first of this month. Longtime Wilshire Village watchers will remember that Wedge held a $3 million mezzanine loan on the property. Listed in connection with this latest claim is Steven Thompson. Thompson is an attorney for Matthew Dilick, Wilshire Village’s “development manager.”
That’s all we have, but obviously more details about these two items are sitting out there for the downloading in databases many of our readers have access to. If anybody’s going to report on any of the juicy stuff going on, we’ll need your help! Can you get your hands on further information about either of these events that could help shed light on what’s happening at the site of Houston’s favorite ongoing real-estate soap opera? If so, please send it our way! Anonymity and (if the past is any guide) grand entertainment is guaranteed!
- Wilshire Village coverage [Swamplot]
Photo of former site of Wilshire Village apartments, 1701 West Alabama: Flickr user Graustark