#colorado #realestate
Eighteen hours before an unfinished condo complex in Dillon was to hit the auction block Friday, its owner filed for Chapter 11 bankruptcy on the long-troubled project.
Work on Uptown 240 began in September 2018 with the demolition of a family restaurant at 240 Lake Dillon Drive. A groundbreaking for the eight-story complex occurred in mid-2019.
Since then, little has gone right, according to court documents and past media reports.
Uptown 240 LLC owes more than $16 million to creditors, including $9.5 million to Porritt and $2.9 million to the project’s general contractor, Symmetry Builders in Weld County, according to its bankruptcy paperwork. It estimates its real estate is worth $27 million.
