If you live on the east side of Fort Lauderdale, it is certain that you have heard of the new home builder Glenn Wright. Wright is well known for his 2-story “mcmansions” in the Fort Lauderdale neighborhoods of Rio Vista, Victoria Park and Coral Ridge.
Wright’s grandest project, La Preserve, envisioned to be a luxury gated home community in a natural setting remains unfinished and as the Sun-Sentinel reports; 39 of the 67 homes are in foreclosure.*
Wright, a prominent name in home building is facing several lawsuits from angry would-be homeowners, contractors and projects that remain unfinished.*
It is reported that Wright’s development companies are in the red for more than $100 million. The developer has deeded at least 106 of his company’s properties to a private firm that specializes in debt restructuring.*
*source: Sun-Sentinel. You can read more of this story in the full article at Sun-Sentinel.
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