Bankers have filed a $14.6 million foreclosure action against one of developer Marshall Chesrown’s ambitious and upscale projects overlooking Lake Coeur d’Alene. The complaint filed by American Bank, based in Bozeman, Mont., centers on Black Rock North, a 1,100-acre tract that Chesrown (pictured) and his investment companies envisioned as an extension of the original Black Rock luxury golf club at Rockford Bay. Though construction crews built the second golf course, the demand for luxury homes to pay for the project has collapsed. No homes or lots have been sold and the Black Rock North Development group has defaulted. The plans included 206 homes and 325 condo units overlooking the lake./John Stucke, SR. More here.

Question: How will this development affect the local economy?

---

---