The Real Deal Miami

Delray developer files for bankruptcy

May 23, 2011 05:00PM

The Delray Beach-based developer of the proposed Village Park Center
project in The Villages, Fla., has filed for Chapter 11 bankruptcy,
according to court records in the Southern District of Florida. The
nearly 48-acre project in Sumter County was slated to include 153,196
square feet of commercial space, along with a 158-unit subdivision.
Jeffrey Phillips, listed as the Managing Member of Village Park Center Investors, filed the Chapter 11 petition on May 16. He is also listed on
the petition as the managing member of Commercial First, LLC, an
affiliated company with the same address in Delray Beach. TRD