Monday, April 25, 2016

More legal tangles for Main Street 'developer'

Posted By on Mon, Apr 25, 2016 at 12:39 PM

click to enlarge IN SUIT: The old M.M. Cohn building is among those subject to a suit over unpaid contractor bills.
  • IN SUIT: The old M.M. Cohn building is among those subject to a suit over unpaid contractor bills.
Arkansas Business reports today on a contractor's foreclosure lawsuit over unpaid bills on work to convert two buildings in the 500 block of Main Street to lofts and other uses. The contractor, AMR, is competing with mortgage holders to salvage expenses from the project.

These were projects of Scott Reed, who blew into town from Oregon years ago with talk of redeveloping a then-moribund downtown. Lots has happened downtown, including some starts on projects by Reed, but the follow-through has come mostly from others on other buildings. Reed also was going to redevelop the Boyle Building at Capitol and Main, but plans for a hotel there are on hold

Was it only four years ago that Reed was already enmeshed in troubles on his loft project at 315 Main, still a question mark.

Lawyers are staying busy, at least.

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