By Kevin Kemper
A regional builder has lost an uncompleted condominium complex to foreclosure, leaving the project’s future in question.
Portrait Homes, a division of Burr Ridge, Ill.-based Pasquinelli Homebuilding LLC, had its Townes at West Albany development put into foreclosure proceedings last month after defaulting on two bank loans. A Franklin County Common Pleas Court judge placed the development into receivership, and even the receiver acknowledges finding buyers will be difficult amid a stubborn housing slump.
