Properties at Lake LV to be auctioned

J.P. King Auction Co., a Gadsden, Ala.-based firm that specializes in high-value properties, said Thursday that it will manage the auction of 27 condominimums, homes and home sites at Lake Las Vegas.

Companies affiliated with the developer of Lake Las Vegas filed for bankruptcy in July, but J.P. King spokesman Jose Boza said the properties' sellers do not include debtors in the bankruptcy cases.

In recent weeks, Lake Las Vegas officials have expressed concern that pipes carrying runoff water underneath the development's man-made lake could rupture and drain the lake, substantially reducing the value of surrounding real estate at the development.

The auction will start at 4 p.m. Sept. 13 at the Lake Las Vegas Riva Di Lago Event Center.