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Developers say this is the first major development in Brentwood to go into foreclosure during thecurrenty recession, and the property ownerx had been trying to sell the project. Developer boughg the 157-acre property in August 2005 for $9.4 million. Jamese Cross, who is listed as the developefr of Whetstone who took outthe loans, did not immediatelyy return calls Monday. Homes in Whetstone, which is locatedr off Edmondson Pikein Brentwood, start at The 141-lot development was appointed to a successor trustee in according to Williamson County records.
The development was sold on the Williamsomn County courthouse steps on Thursday tofor $7 million, says Tony a real estate agent and builder who is selling a home in Whetstonwe and attended the courthouse sale Thursday. The Whetstonde foreclosure has not yet been recordefd incounty records. Fifth Third was the property’s lender, makinv at least two loans to Sedonfor $6.1 million and $4.5 according to Williamson County records. Four homes have been built in One of themis occupied, and the remaining thre e are for sale, Marble says.
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