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After failing to make significant progress since it broke ground in 2019, the Uptown 240 project is on the path to foreclosure.
According to Dillon Town Manager Nathan Johnson, the town recently received notice that JGJP Dillon, LLC, the current lender of the project, filed paperwork to start the foreclosure process.
Jake Porritt recently spoke on behalf of JGJP Dillon LLC at the last Dillon Town Council work session on Tuesday, Nov. 15.
If requirements to avoid foreclosure aren’t met, the Uptown 240 property — which is currently owned by Danilo Ottoborgo — will be sold at a public auction at 10 a.m. on Feb. 24. As is the process with foreclosures, Ottoborgo is being given a “cure period” where he has the opportunity to pay off any past due debts.
“It has to get to the point of the sale,” Johnson said. “They still have a cure period where they could pay off the current loan. There’s still a process there. We are going to work with whoever it is that owns the property to make sure that the project is built and completed. Whoever that is, we are here waiting, and we want to get this thing going.”
