Once dubbed “The Green Monster” for the nearly 5,000 homes it would bring, Chesterfield County’s Magnolia Green development may end up a blessing rather than a curse. But first, the county and landowners will need to find a way to bring the Powhite Parkway to the project’s front door on Hull Street Road. Magnolia Green won a controversial rezoning in 1991 as the last act of a lame-duck Board of Supervisors. The plan called for 4,886 homes on the almost 4,000-acre site near Otterdale Road.

Apparently no one’s in the market for a partially built, mixed-use development with half an 18-hole Jack Nicklaus golf course. Lower Magnolia Green, an under-construction development in Chesterfield County planned for 3,550 homes and a mix of commercial uses on 1,898 acres, was auctioned off yesterday. With no bidders, the project went back to the bank—New York-based lender iStar Financial—for the $52 million opening bid. They will assume ownership in a matter of days.

Apparently no one’s in the market for a partially built, mixed-use development with half an 18-hole Jack Nicklaus golf course. Lower Magnolia Green, an under-construction development in Chesterfield County planned for 3,550 homes and a mix of commercial uses on 1,898 acres, was auctioned off yesterday. With no bidders, the project went back to the bank—New York-based lender iStar Financial—for the $52 million opening bid. They will assume ownership in a matter of days.

Plans called for Lower Magnolia Green to have 3,550 homes and retail. A golf course is nearly half-finished. Supervisor calls foreclosure “a sign of the times.“

The property is one of Chesterfield County’s largest planned developments, with a golf course, 3,550 homes and future retail.

A lawsuit filed by local engineering firm Timmons Group Inc. against developer Magnolia Green Development LLC has been settled. The suit, filed in December, claimed Magnolia Green and an affiliate company had failed to pay more than $1 million in services and fees. The terms of the settlement were kept private. As a result of the agreement, Timmons Group will continue civiland environmental-engineering work on Chesterfield County’s Magnolia Green project, a 1,893-acre, 3,500-home development at Woolridge and Otterdale roads.

A lawsuit filed by locally based engineering firm Timmons Group Inc. against developer Magnolia Green Development LLC has been settled.

Timmons Group Inc., a local engineering firm, is suing the developers of Chesterfield County’s Magnolia Green development and an affiliate company for more than $1 million, claiming unpaid services and fees. The lawsuit filed by Timmons Group in Chesterfield Circuit Court on Dec. 12 contends Magnolia Green Development LLC has failed to pay $789,057 for services rendered over the past 2½ years and $190,687 in cumulative attorney fees. Additionally, the suit contends Magnolia Green affiliate LSH Building Company LLC still owes $32,425 for engineering services and $8,106 in attorney fees from 2006.