Lender Seeks Foreclosure Of Stalled Arbor Residences Project In Coconut Grove

Trez Capital filed a foreclosure lawsuit against the developer alleging the company failed to repay its nearly $21 million loan and failed to complete the five-story, 48-unit building. Prices for single-family homes and condos in the Grove have skyrocketed, and buyers at the Arbor are likely even more outpriced than they were before. Rising construction costs, labor issues and supply chain problems are affecting developers, as well. CLICK ON THE HEADLINE FOR MORE