Witter sues Keller, Jackson over Towne Center

Phil Witter, who sold the property that became the Towne Center, has filed suit against Stephen Keller and Everett Jackson, asking that they be removed as managers of the mixed-use development. In the suit that was filed Wednesday in 19th Judicial District Court, Witter charges Keller and Jackson with failing to give him information about the finances of the center, offers to buy the property and a share of the operational profits. He says the two have abused their position with “management contracts” that only benefit them. Witter owns North Corporate Properties, which the suit says effectively owns half of the lifestyle center, office park and luxury apartment complex that make up Towne Center at Cedar Lodge. The remaining half is owned by Keller, Jackson and the companies they control. Despite having put up the only capital for the project, Witter says he has received no profits from Towne Center, which has had substantial success. The suit charges Keller and Jackson and their entities have profited from various management and development fees they receive from the properties. In a statement, Witter says he regrets filing the suit, but it was the only recourse he had left after months of fruitless negotiations. “I intend to be cooperative to make Towne Center a continued success and to make our community a success,” Witter said in a statement. “Importantly, this suit will have no effect on Towne Center’s tenants.” Keller and Jackson issued a statment calling the suit “frivolous”. “We have enjoyed our relationship with Mr. Witter, and we were hopeful that whatever business concerns he has would have been resolved in a more appropriate manner,” the statement says. —Timothy Boone