DACULA - A proposed Wal-Mart store is another apparent victim of the economy.
According to a recent legal advertisement that ran in the Daily Post, the proposed land destined to be a future Wal-Mart just south of Ga. Highway 316 on Harbins Road will be sold to the highest bidder for cash on the courthouse steps Tuesday.
The foreclosure is occurring, as stated in the foreclosure notice, "to secure repayment of an installment note dated June 6, 2007, in the stated principal amount of $59,670,000."
According to Dacula city spokesman Jim Osborn, that's about one month after the developer - Diversified Partners Land Development - was granted a change-in-conditions to build the proposed store and outparcels on the 70-acre assemblage of land, which is nothing more than a wooded lot.
Osborn said Wednesday he was still trying to contact Tim Dollander of Diversified Partners in Arizona to confirm what he'd heard to be rumor, but has yet to hear back from him. In seeing the legal advertisement though, he was confident that the foreclosure notice was indeed for the proposed Wal-Mart development.
"This is it," he said.
Calls to Dollander on Wednesday and Thursday went unreturned.
Osborn said while the project never got off the ground, the zoning granted for the development stays the same.
City Planner Joey Murphy said unless the same project is proposed, any future development would have to gain the approval of the City Council.
"We're site plan specific here," Murphy said. "If it's not going to be Wal-Mart, then they're going to have to come back before the council."
The foreclosure notice saddened Tara Friedman, the event manager at Stars and Strikes.
"It's not good because when we bought this property, we knew Wal-Mart was going in and they bring people in. It's unfortunate for the businesses on this side of 316," Friedman said. "It would have been good for this side of 316 ... I feel confident that once the economy picks up something will come of it. It's a nice lot."