Washington Square developer settles liens, still no word on when construction will resume
January 8, 2019
TALLAHASSEE, Fla. (WCTV) -- After six months at a standstill, the Washington Square project in downtown Tallahassee could finally be moving again.
Court records show Fairmont Development took out a loan of over 10 million dollars, settling almost 9 million dollars of liens with subcontractors.
The loan of $10,250,000 came from Lakeland Lenders LLC, a Chicago-based company.
Yates & Sons had filed a lien months earlier, requesting $8,218,645 from Fairmont; CMC Steel Fabricators Inc also filed a lien for $999,044.
Fairmont had also settled a lawsuit with the City of Tallahassee in the fall of 2019 over the use of the Eastside Parking Garage.
Developers told WCTV via e-mail that they are currently working with the construction manager and contractors to determine the construction recommencement date; they expect construction to take twelve months, but are reviewing options to shorten that time.
Fairmont also said it will "continue to utilize local companies to support the construction effort."
When asked about the usability of current materials at the site, developers said it is currently be evaluated.
"We anticipate some materials will not be usable and some will require reconditioning. This effort/process will influence the construction recommencement date," said Walter Hall in an e-mail.
The site has sat idle since July of 2019.
WCTV will keep you updated on this developing story.