Frisco’s giant Wade Park, a $2B mixed-use development, was declared in default, and lender Bamcap Partners is seeking foreclosure.
The lender, which has provided over $48M in loans to the development since 2015, is looking to initiate a forced sale, according to the Dallas Morning News.
Work on the 180-acre luxury development stopped months ago as it hit choppy financial waters under the weight of over $10M in liens from more than a dozen contractors and other firms. Formerly destined to be one of the crown jewels of Frisco’s $5B Mile, Wade Park's latest financial fumble has thrown its future into the uncertain.
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