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Arizona Supreme Court Won’t Reconsider Elevation Chandler Case

By Lucy Scott for The Arizona Republic

Construction on the Elevation Chandler project stopped in April 2006. Photo Credit: Deirdre Hamill/ The Arizona Republic

The Arizona Supreme Court has refused to reconsider its decision that awarded ownership of Elevation Chandler to the investors of Point Center Financial, the project’s lender.

Now the title is clear and the property, on the southern edge of Chandler Fashion Center, can be sold.

The Supreme Court denied the request to reconsider from Phoenix foreclosure speculator Tom Peltier, a principal in BT Capital. The justices denied the request without comment less than a week after the request was filed.

The court on May 4 ordered BT Capital to pay attorney’s fees incurred by California-based Point Center, an amount of $247,555. Those costs were incurred in handling the case at the state Court of Appeals and the Supreme Court.

A three-year battle was waged over who owns the 10.5-acre abandoned construction site near the intersection of Loops 101 and 202.

Peltier had claimed he won the property when he bid $1,000,001 in a botched trustee’s sale on June 15, 2009.

Read more at AZCentral