Urbanjacksonville.info (http://www.urbanjacksonville.info) broke the news that Craig Van Horn (Folio's 2003 Man of the Year) is in foreclosure process on his ill-fated Silverleaf Condo project deep in the heart of Springfield. The foreclosure news follows Van Horns bizarre demand for a 36 thousand dollar deposit from a prospective tenant at his five time losing 9th and Main restaurant locale, leading many to suspect that the two event were probably related.
Another large investor in the Springfield neighborhood told MetroJacksonville that Van Horn's money problems are common knowledge in the small world of Springfield Developers. Apparently he was structuring a deal to purchase all of Craig's commercial properties at enough money to leave Van Horne to finally break ground and finish the three corners of 8th and Pearl (breaking ground now for over 3 years)
"This guy is seriously hurting,' MetroJacksonville was told. "The wolf is really at the door"
According to another Main Street property owner, in February, LISC Jacksonville approved several million dollars for stop gap financing on the troubled 8th and Pearl project. Now if only Van Horn could come up with the seed money...