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Auction scheduled for Westport Waterfront site

A Valentine's Day auction has been scheduled for developer Patrick Turner's Westport Waterfront site.

The auction house A.J. Billig and Co. is advertising that sale of the roughly 43-acre property will take place Feb. 14 on the steps of the Clarence M. Mitchell Jr. Courthouse downtown.

The property is eight parcels but will be sold as a single unit, according to the auction materials. A $500,000 deposit will be required at the time of purchase.

In November, lender Citigroup Global Markets Realty Corp. filed a foreclosure action against Turner-affiliated companies, alleging they owed nearly $32 million on a 2007 loan. Several parcels of land -- 2401 through 2417 Kloman Street -- were secured as collateral for the loan, according to court records.

Turner's plans for a massive, mixed-use development on the land, on the western shore of the Middle Branch of the Patapsco River, were derailed by the recession.

Last year, Turner told the Sun he was seeking new financing and intended to move forward with the project. He could not be reached for comment Friday.

Have a real estate news tip or experience to share? Email me at steve.kilar@baltsun.com.

Copyright © 2014, The Baltimore Sun
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