BALTIMORE-Inner Harbor West LLC, the entity spearheading the proposed $1.4-billion Westport waterfront project in South Baltimore, has filed for bankruptcy protection.
The company, headed by Patrick Turner, a Baltimore-based developer, filed a motion on Feb. 19 in U.S Bankruptcy Court in Baltimore for Chapter 11 protection, according to the Baltimore Business Journal.
Inner Harbor West allegedly owes Citigroup Global Markets Realty Corp. $31.8 million in connection with the waterfront project. Citigroup filed for foreclosure against Inner Harbor West last November.
An auction of the eight Westport parcels was scheduled for Feb. 14. However, Dixie Construction Co. and C. Frye Associates LLC filed an involuntary Chapter 7 bankruptcy petition against Inner Harbor West in U.S. Bankruptcy Court in Baltimore on Feb. 8, causing the auction to be canceled. See story in the Baltimore Business Journal.