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Home / News / Banking and Finance / Bank Bailout: CommunityOne takes control of failed subdivision site from Gaston commissioner (access required)

Bank Bailout: CommunityOne takes control of failed subdivision site from Gaston commissioner (access required)

Joe Carpenter made his living cutting grass with his own landscaping business. This month, the 75-year-old Gaston County Commissioner is just cutting his losses. Instead of foreclosing, CommunityOne Bank accepted land from Carpenter meant for two failed subdivisions: Kings Pinnacle and Pinnacle Woods. The roughly 190 acres taken over by CommunityOne via a deed in lieu of foreclosure ...

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