The latest casualty of the uptown condo boom is scheduled to be auctioned Thursday.
The Park condo building, a 21-story tower at Caldwell and Third streets that went into foreclosure last month, will be sold to the highest bidder at noon at the Mecklenburg County Courthouse.
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The foreclosure order in Mecklenburg Superior Court against Verna & Associates' development company, 222 South Caldwell Street Ltd. Partnership, ended months of uncertainty after work on the $43 million project stopped this spring.
According to court documents, the Charlotte-based developer defaulted on its $30.7 million construction loan, which was to be paid by February. Verna owes more than $27 million to its lender, BB Syndication Services Inc. of Wisconsin.
Court officials said the sale could be postponed anytime before the auction, but as of Wednesday morning, such a request had not been filed.