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Thesa Chambers, Principal Broker

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What Next For Village at Sunriver?

I was saddend to read today that foreclosure proceedings have been started against SilverStar.  The article I read did not mention what any plans were – other than SilverStar is in default.  I hope that something can be done to continue a forward movement.

To find more info that is not published by either side of this local heated debate I find that BizJournals gives some pretty straight facts.

SilverStar Destinations LLC has defaulted on a $26.7 million loan it received to redevelop Sunriver Mall. The lender, Las Vegas-based Vestin Mortgage, has started foreclosure proceedings and litigation to recoup its losses.

Posted in: Sunriver Tagged: Village at Sunriver

Comments

  1. dave says

    November 22, 2008 at 12:11 pm

    I don’t know why you’re sad. The current developers were somewhat questionable from the start and paid too much for the mall and wanted to change the entire feel of Sunriver. There are further articles available that say Vestin has accepted an intent to purchase the mall for about 13 million to close about Dec. 19th. At that price, someone can be reasonable about redevelopment and make money.

    Reply
  2. Thesa Chambers, Broker, ABR says

    November 23, 2008 at 9:55 am

    Dave – I was sad for the simple reason that regardless of what you or I would want for the mall – this will most likely be another delay in a much needed major repair to the mall.

    Having worked in the buildings of the mall for years now I can tell you what you see in these stores is not what they are dealing with.

    Sunriver needs the mall and the mall needs help – regardless of who does it. Change is tough.

    Reply

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About Thesa

As your real estate agent, I understand the value of providing the best possible service to every buyer and seller. Listening carefully to fully identify not only your desires but also your needs. Then work diligently to ensure that both are accommodated to the best of my ability. We will stay abreast on changing market conditions, trends, developments and research all factors that could affect the purchase or sale of your property.  My success and your happiness greatly depend upon the quality of the relationship we achieve.  Through personal redefinition of the professional standards set by most agents, I hope set myself apart from the rest and become the first person that you think of for all of your real estate needs.

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Thesa Chambers, Principal Broker West + Main Homes
thesa@centraloregonbuzz.com
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