GASTONIA, N.C. — A lawsuit and counterclaims involving principals in Gastonia’s Loray Mill Village detail cost overruns and internal battles that endangered the much-delayed project and left it without funding to move forward on a planned second phase.
The suits pit estranged partners Joe Lenihan and John Gumpert and their associated companies against one another, alleging breach of contract, constructive fraud and demanding that a court settle who owns how much of this key redevelopment project.
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The first phase of Loray Mill opened in 2015 and was an important redevelopment program for Gastonia. It ultimately cost more than $40 million to complete the 195 apartments and 80,000 square feet of commercial space in that first phase. It is now closely associated with the Franklin Urban Sports and Entertainment District to revitalize the Franklin Boulevard corridor.
Read more here about what’s in the lawsuit and how it has affected the project.
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April 19, 2021 at 07:14PM
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Bitter court battle between partners delays Loray Mill’s next phase - WSOC Charlotte
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