GRAND RAPIDS (WZZM)- The lifestyle center called "The Village at Knapp's Crossing" is in deep financial trouble.
So deep, developer Steve Benner has filed for federal Chapter 11 bankruptcy protection.
Benner owes 20 creditors about $18 million. Most of that are mortgages with three banks.
Benner had hoped his development would feature a rich mix of upscale stores and restaurants. So far, only one restaurant, P.F. Chang,s has opened. And while the restaurant is a tenant, it says it is owed $147,000 by Benner, since he failed to have the site ready in time for the restaurant to open on schedule.
A D&W supermarket is in a corner of the development, on land the chain bought from Benner.
Neither Benner or any of the attornies involved was available for comment Thursday.
A hearing on the case will be held September 12 in U.S. Bankruptcy Court in Grand Rapids.