The developer of the 478-acre Westphalia Town Center mixed-use development in Prince George’s County faces the prospect of defaulting on more than $34 million in debt, but that’s a worst-case scenario the company’s top local executive is confident will not come to pass.
Edward Fleming, regional president for Walton Development and Management, said affiliate Walton Westphalia Development Corp. has received 30-day extensions to avoid defaults on two of the project’s maturing loans, including one for $23.2 million set to mature this past Saturday.