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From Jeremy Pawloski’s report this morning in The Olympian:
“Buyers at Lost Lake Resort, marketed throughout South Sound since 2005 as an upscale RV community on the outskirts of Yelm, thought they were purchasing a little slice of heaven.

The resort was pitched as a place where they could spend the summer months of their retirement years living in peaceful seclusion on 130 acres of pristine wilderness.”

“But several RV lot owners at Lost Lake Resort, at 1546 Reservation Road in rural Thurston County, say dreams of easy living have collapsed because of the resorts developer, Jeffrey Graham, 48, of Tacoma, and the complications of his financial meltdown.

Graham says hes done everything in his power to get deeds to buyers and to fix the facilities at the resort. ‘I have been trying to help my owners get what I owe them,’ he told The Olympian.

The park itself is a jewel.”

“But Graham says hes limited in what he can do because a Thurston County Superior Court judge appointed a receiver to oversee the resorts future after Graham defaulted on a $3.3 million loan to develop the property.

Hes also dealing with the fallout from filing for Chapter 11 bankruptcy.”

Read more in Pawloski’s thorough report.

Posted by Steve on November 20, 2011 at 5:01 am | Permalink

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