No buyer for Capitol View Commerce Center
No bidders spoke out when the defunct Capitol View Commerce Center came up at the Dauphin County sheriff's sale this morning.
The debt amount on the property is listed is nearly $7 million, according to the county.
Commerce Bank/Harrisburg, now called Metro Bank, lent developer David Dodd II that amount for the project, according to Business Journal records.
"The property is in bankruptcy and subject to ongoing litigation," said Natalie Neyer, a Metro Bank spokeswoman. “Metro Bank took the appropriate steps within the bankruptcy proceedings to obtain relief from stay and list the property for sheriff’s sale. This is the normal process that the bank goes through with other foreclosures.”
Dodd pleaded guilty in November 2011 to federal fraud charges in connection with the unfinished $28 million project. A sentencing date has yet to be scheduled.
Capitol View was planned as a 215,000-square-foot printing, office and retail facility at Cameron and Herr streets. It was supposed to transform the struggling redevelopment corridor.
But contractors walked off the site mid-build in spring 2008, claiming they had not been paid.
Dodd was promised more than $17 million in local, state and federal money to build the facility. He spent more than $8 million in public money before the project soured, according to financial records.
Click here to read the court documents related to the sheriff's sale.