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.
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.