HENDERSONVILLE – The lender financing the Fairmont at the Cedars project in downtown Hendersonville is seeking to have the property put into receivership, claiming the developers defaulted on a $32 million loan and are, or are in danger of becoming, “insolvent.”
That’s according to a complaint filed May 29 in Henderson County Superior Court.
Construction on the partially completed luxury condo high-rise project has been stalled since last year. The contractor, Turner Construction, left the site in March and sued Cedars to enforce a claim of lien for $7 million it alleged it was owed, the Times-News previously reported…