POST FALLS, Idaho — The developer of a multi-use project planned along the Spokane River in downtown Post Falls has filed for bankruptcy in federal court.

The Coeur d'Alene Press reports ( http://bit.ly/9WpCD5) that developer Harry Green's company Point at Post Falls, LLC, filed Chapter 11 papers Monday.

The decision forced the cancellation of an auction sale and foreclosure process.

Green unveiled plans for the development about 10 years ago, and at the time it was seen by some officials as a new hub for the city's downtown.

The plan called for a mix of condos with retail shops, a hotel and amphitheater. But only two condo buildings have been built.

The Post Falls Urban Renewal Agency also reimbursed developers about $1.9 million for streets and other infrastructure in hopes of sparking more growth.

H/t powderfarmer Thoughts?

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