A fight over a real estate empire that stretches from here clean to Texas involves two boarded-up buildings on Heath Street in Mission Hill and a stalled apartment-and-retail complex on Dorchester Avenue in lower Southie. Developer John McGrail took out loans from Anglo Irish Bank to fund his purchases and developments. Anglo Irish Bank went spectacularly belly up in 2009. Wells Fargo took over the loans, and now wants to recoup about $190 million from McGrail.
McGrail's Southie project would have involved offices, retail, apartments and parking over six buildings on Dorchester Avenue near the Andrew T stop. The Mission Hill project was supposed to be 83 condos at an old brewery at 117 Heath Street (pictured). The buildings are boarded up. McGrail and Wells Fargo are currently battling in court, with the bank trying to take control of the properties and the developer counter-suing, contending the bank is out to disrupt his business, such as it is.
· Developer in Fight with New Lender [Globe]