RECEIVERSHIP EXPERIENCE
I have had the unique opportunity to serve as a Court Appointed "Receiver" for several banks involved in bankrupt and defaulted developments. |
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 THE SHORES AT MACKINAW
At
the request of Comerica Banks Special Assets Division Detroit, I was asked to consult in liquidation of multi-unit condominium owned by the Bank in Mackinaw City, Michigan. The project consisted of 74 living units with approximately 20 unsold units and development rights for an additional 20 units. The necessary changes were made to the site allowing the remaining inventory to be SOLD over a ten week period. The project is sold out and my duties completed.
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 PENINSULA BAY RESORT CONDOMINIUMS
Appointed at the request of Comerica Bank Special Assets Division Grand Rapids, Michigan to receivership of unfinished 55 unit waterfront condominium development in East Bay Township, Traverse City, Michigan. Fifty percent of units need completion with issuance of Occupancy Permit. Completed "must be built" common elements. Secured all necessary approvals to market and pass title to units. Established operating budget for co-owners association and created Board of Directors comprised of co-owners. All units as well as Development rights have been SOLD and the Receivership duties have been completed as of September 2009. |
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 PIER 33/SUMMER MOORINGS
Appointed at the request of First Community Bank to receivership of Pier 33 project located on the Cheboygan River in Cheboygan County, Michigan. Site consists of approximately 1,600 feet of river frontage, a 74 slip marina, a commercial restaurant party store, ten completed and unsold living condominiums, a free standing residential home and development land originally approved for 160 living units. Site has been divided into five manageable condo site units with unit five under contract for the construction of a 4.5 million dollar assisted living facility. Zoning and site plan split approvals now in place to move project forward.
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 ADMIRALS POINT
Appointed at the request of 5th 3rd Bank Special Assets division Grand Rapids to Admiral Point Development on the Crooked River in Alanson Michigan. Project consisted of 65 slip marina an upland housing subdivision and a approved PUD for condominium development. Also on site were marine storage buildings. Receivership assignment completed in October 2009.
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 Stoney Creek Hills in Traverse City, MI
Stoney Creek Hills is a residential condominium development very near Holiday Hills in Traverse City, built in 2007. The project is approved for 140 condominium units. Phase I consisting of 10 condominium units have been completed. Within less than six months involvement, the entire project, including seven of the completed units and all the remaining development rights have been sold. |
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 Mariner’s Village in Cheboygan, MI
Terrific business opportunity on the beautiful sunrise side of Michigan. This 37,000 sq ft. rack storage facility marina includes an area to facilitate a marina accessory store, administrative offices and a client restroom facility. Excellent opportunity! Call for more details. Denny Heck. 231-313-7244. |
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 The Boathouse Restaurant in Cheboygan, MI
Well established, family restaurant on the river in Cheboygan. Only four blocks from the drawbridge and within easy walking distance of many attractions. This one will go fast! Call today. |
