Water Park Faces $3.2 Million Lawsuit

by Arkansas Business staff  on Monday, Nov. 22, 2004 12:00 am  

Did you know that Wild River Country in North Little Rock was hit with a $3.2 million foreclosure suit?

Community Bank of Cabot claims Halcyon Attractions Corp. of Toronto and its president, Hugh Hall, defaulted on two loans that originally totaled $3.4 million. The debt is secured by the 30-acre water park at 6801 Crystal Hill Road.

According to the complaint, Halcyon and Hall defaulted on a March 2000 promissory note of $400,000 and a January 2003 loan of $3 million. Both pieces of debt came due Oct. 1, 2004.

The bank also claims Halcyon failed to keep the project properly insured as required by the mortgage agreement.

The complaint details $397,520 plus interest and penalties owing on the first debt, $2.8 million plus interest on the second and $10,800 for casualty insurance premiums.

Hall did not immediately return a call for comment.

Halcyon bought the park from Wild River Country Limited Partnership and Oasis Management Inc., a Canadian limited partnership, in 1999.

When Hall took over the park, he planned to "put the action back in attraction" and pledged to invest $1 million by the end of 2000.

Fox on the Run

More details have surfaced on a planned upscale assisted living facility in west Little Rock.

The 9-acre site at the northwest corner of Chenal Parkway and Chenal Valley Drive will become home to Fox Ridge at Chenal.

The 120,000-SF structure will house 107 beds and weigh in at about $12 million in terms of construction costs.

Harco Constructors of North Little Rock, the general contractor, should start moving dirt in December. Completion is scheduled by the end of September.

The owners are a Saline County investment group that includes Bob Landers, Kevin Mallett, Dr. John Menard and Nick Landers.

The group is scouting out locations for projects in North Little Rock, Cabot and Benton.

The group's Fox Ridge Estates project in Bryant is a combination 143-bed assisted living facility with eight garden homes for independent living.

 

 

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