News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
One of the two groups interested in building a downtown Cookeville Hotel wants to move forward with a project on the old Wilson Building property.
In a statement released Friday morning, the Auxin-Wilson Project said it must first untangle a failed partnership with DW Interests.
“Auxin-Wilson Project, LLC continues to be interested in the combined properties being developed for a hotel or for another use to enhance downtown Cookeville,” Auxin-Wilson’s statement said.
Auxin-Wilson is foreclosing on a corner lot at Cedar and West Broad, not a bank. That property is owned by Cookeville Downtown Hotels, LLC, controlled by David Wilson of Franklin. Wilson, under the name DW Interests, had been a partner with Auxin-Wilson in trying to bring the hotel-convention center project to Cookeville.
In a lawsuit filed last September, Auxin said DW Interests had failed to take appropriate steps to deliver the project. In October, DW Interests filed a counter-complaint arguing interference from the Auxin group.
Judge Jonathan Young has awarded ownership of the 1.3 acre lot to Auxin. DW Interests threatened to appeal the decision.
Auxin-Wilson, according to the statement, purchased the loan on the Cedar-West Broad property in an effort to avoid a lengthy appeal. The group wants to also to consolidate the that parcel with the two it controls: 38 South Oak Avenue and 39 Deport Street.
“The bank is not foreclosing on any of the properties, and Auxin continues to own the nearby Wilson Building property and will bring the corner lot into the same ownership,” Auxin-Wilson’s statement said.
The foreclosure will be held April 27.
Auxin consists of six local individuals: David Allen, James M. Allen, Kevin Bowling, Martin Foutch, Robert Allen and Robert Duncan. Wilson did not respond to attempts for comment.
