The Willy Street Co-op announced Monday it terminated its lease with the Metropolitan Place II development, the location that was to hold their new store.
LaSalle and Associated Banks filed a lawsuit February seeking foreclosure against Metropolitan Place II's developer Cliff Fischer and his company, Buckingham LLC, the co-op. The parties reached a deal in early March, but the co-op still decided against opening a new store at the development.
Metropolitan Place II is located at the corner of Broom and West Mifflin Streets.
The developer's delays have made this deal untenable '¦ the costs of the delay have mounted and the landlord remains out of compliance with our lease,"" Renée Lauber, the co-op's board president said in a statement.
Anya Firszt, general manager of the co-op, said the organization will begin looking at other possible retail sites immediately, but that it could be awhile before a new site is secured.
