Riviera Southshore facing foreclosure

The 700-unit Riviera Southshore condo projects on the Manatee River is facing foreclosure and the developer is still not commenting on how he plans to carry on with the project.

When the Herald Tribune tried to contact the developer, Frank S. Maggio responded with a generic written response he’s been circulating around ever since word broke about the Wells Fargo mortgage foreclosure.

According to Maggio, “We will continue to work with the city, and hopefully our lenders, to move this community forward and fulfill the vision that we have worked so hard to create and refine over the last two years.”

The project is facing foreclosure for being in default of the $22.3 million dollar mortgage loan from Wells Fargo.  Read more about the Riviera Southshore facing foreclosure at the Herald Tribune.