Construction on the Wilder development¬†project in Orinda has stopped after the lender sued the developer. Merrill Lynch Mortgage Lending Inc. sued OG Property Owner LLC on April 7 after the project went into default on its¬†$180 million mortgage in February.
The project could still continue, but the lender may be able to take control of the property if it goes into foreclosure.
The Wilder development, located in the Gateway Valley, on Orinda’s west side, is to include 245 multi-million dollar homes and multiple sports fields.
The proposed sports fields were supposed to be a cure for the field space issue¬†Lamorinda’s youth sports programs are currently facing.