DETROIT, Dec. 6 (UPI) -- An ex-Detroit Lions player and his business partner are being sued by a bank for allegedly defaulting on a loan for a historic downtown building, officials say.
Former player Robert Porcher and contractor Bobby Ferguson were taken to federal court by PNC bank Monday over a $3.65 million loan to rehabilitate the Vinton Building in downtown, The Detroit News reported.
Porcher and Ferguson are part of an investment team that bought the Albert Kahn-designed, 12-story building in 2005 from the Downtown Development Authority for $500,000.
Investors promised offices, condos and shops within 18 months in the renovated historic building on Woodward Avenue, but the project has stalled.
The investment team has defaulted on the construction loan, the lawsuit filed in U.S. District Court in Detroit says, and PNC Bank is suing to force Porcher, Ferguson and 10 other partners to repay the money.
In 2008, the investment team owed Detroit $224,000 after the high-rise project stalled as unpaid contractors walked off the job, the News said. UPI
