Note
as of 11/13/25 --- Lawsuits filed: Town of Cornelius officials said several lawsuits have been filed between the private entities, further delaying a project that should have been completed years ago. The dispute is between an entity associated with River Rock Communities — the developer of the private homes — and Alexander Farms MU LLC (AFMU), the master developer and commercial developer.
According to online court records:
• This past April, an entity associated with River Rock purchased AFMU’s loan previously held by Stearns Bank after AFMU defaulted on the loan.
• The River Rock entity foreclosed on the note.
• AFMU challenged the foreclosure citing a violation of deed of trust and North Carolina foreclosure law. The challenge made its way through the courts to the N.C. Supreme Court and remains in litigation.
The town has been informed that at least two other lawsuits are pending in Mecklenburg County courts between AFMU and River Rock, according to Town Manager Andrew Grant, who stated the town is not a party to any of the lawsuits, litigation or court proceedings.
