Bankruptcy not expected to affect Yorkway

December 05, 2009|By Hanah Cho

The developer of the Yorkway housing development in Dundalk filed for personal bankruptcy this week, but Baltimore County doesn't expect the move to affect the much-anticipated community, which broke ground in September.

John F. Vontran and his wife, Kelly A. Vontran, of Perry Hall, filed for Chapter 11 bankruptcy protection on Tuesday and list nearly $10 million in liabilities, which include personal and business-related loans. Creditors include the Patapsco Bank for a $3.3 million obligation related to a business operation and bakery magnate and Inner Harbor East developer John Paterakis for $1 million, also a business-related loan listed as disputed, according to documents filed with the federal bankruptcy court in Maryland.

"It's our understanding that this is a matter totally unrelated to the Yorkway project, and we're told by the developer that it will have no impact," said Ellen Kobler, a county spokeswoman.

Vontran could not be reached for comment Friday.

Once the site of the county's most crime-ridden apartment complexes, the new Yorkway project, which will include 66 single-family detached homes, won praise from state and county officials at a groundbreaking in September.

In recent years, those buildings, in the heart of the eastern county community, generated as many as 3,000 police calls a year, officials said.

The county paid nearly $21 million for the 10-acre property three years ago and razed the last of about 80 buildings in February 2008.

Yorkway LLC, which lists Vontran as the resident agent and general manager, bought the property at a county-organized auction for about $1.65 million.

The homes are expected to go on sale beginning in January, and prices will start in the mid-$200,000 range.

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