What will happen with Edgewater properties  assemblage ??

What will happen with Edgewater properties  assemblage ??

418, 422 and 430 N.E. 29th St., plus 403 and 411 N.E. 28th St Edgewater

Owners were Proyectos MC LLC, 422 NE 29 St LLC, and America Green Growth LLC, along with loan guarantor Jorge Lopez Vergara. It covers a combined 25,800 square feet of land at 418, 422 and 430 N.E. 29th St., plus 403 and 411 N.E. 28th St.

The five lots currently have homes and duplexes. They are directly west of the 42-story Icon Bay condo tower. That makes this a prime redevelopment site.

The LLCs managed by Vergara assembled the five lots for a combined $3.22 million from 2012 to 2016. In 2018, Benworth Capital Partners provided a $2 million mortgage covering the properties. That loan was later assigned to Blue Rock Realty.

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