Jury awards $20 million to Canyon Ridge developer

Developer Duane Horton presents his plan March 12 for the shopping and residential development on the north end of Highway 153.
Developer Duane Horton presents his plan March 12 for the shopping and residential development on the north end of Highway 153.
photo Randy Baker
photo Duane Horton

The developers of the Canyon Ridge community on Lookout Mountain have won a $20 million compensatory damages judgement in Hamilton County Circuit Court.

The trial involved a $35 million lawsuit pitting land development companies Canyon Ridge Resorts and partners against local private brokerage firm Sterne, Agee and Leach. The suit was filed in 2011 after a proposed $100 million hotel and conference center on Lookout Mountain fell apart in 2010.

Horton alleged in court documents that his then-partner Randy Baker secretly conspired with Sterne Agee to sabotage the project and put in place their own development at the same site with the same architects while Sterne Agee was working as Canyon Ridge's investment brokers. Horton claims that the alleged actions of Baker and the investment firm cost the developers as much as $35 million in damages.

Jurors on Monday will hear arguments for additional punitive damages in the case.

The case is believed to be the longest civil case in Hamilton County's history, lasting 24 days as of Thursday, and is the second highest award to date in a civil case in Hamilton County.

Stay with the Times Free Press for more information as it develops.

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