Newton's Riverside Developers File Complaint Against Blue HawkBy: Ashley Studley on: Wed, Nov. 02, 2011 10:47 am (523 Reads)
Newton. November 2, 2011
In a complaint filed with Suffolk Superior Court on Oct. 14, Normandy 399 Grove Acquisition LLC and Normandy AIV Riverside Acquisition, LLC allege Blue Hawk (BH) Riverside has experienced a “material adverse change” and thus has ceased to have any rights to sell under the Riverside Agreement.
A section of the agreement grants either member the right to directly or indirectly sell the 22.6 acre Riverside MBTA station adjacent to Grove Street.
That section of the agreement, however, is contingent upon BH’s ability to pay for capital needs.