Adelaide Pointe’s Foreclosure Battle | Grand Rapids News

A major waterfront development in Muskegon, Adelaide Pointe, is caught in a high-stakes legal battle as West Shore Bank moves to foreclose on a key building housing the Muskegon Brewing Company and event space—claiming over $7 million in unpaid loans. Developer Ryan Leestma’s team urgently seeks to halt the September 18th seizure, warning it could cripple their entire operation and alcohol license. Complicating matters, Leestma is already navigating bankruptcy with Independent Bank over $28 million, which he recently settled to refocus efforts. The bank counters that the targeted property isn’t legally tied to his bankrupt entities, demanding separate bankruptcy filings for protection. With only 34 condos left to sell, this foreclosure showdown threatens to derail one of Michigan’s most ambitious—and troubled—urban projects. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/dc94f212407822cd