Bank of Coweta Sept. 6 advertised a notice of indebtedness on a portion of property that is the site of the future Fischer Crossing retail center located on three corners of Ga. Highway 34 and Fischer Road in east Coweta County.

Responding to the announcement, developer Scott Seymour said he is in process of refinancing the loan and that construction on the two other parcels is expected to begin before the end of the year.

The property in question is situated on the northeast corner of Fischer Road. Future retail sites on the northwest and southwest sides of the intersection are not connected to the loan, Seymour said.

Bank of Coweta listed an $11 million loan on the property totaling approximately 60 acres of the 145-acre development.

Contacted Friday, Seymour said the loan with Bank of Coweta had matured and the bank was asking for full payment. Seymour said he owes $7 million and is in process of having the loan refinanced with another bank.

As for the remaining parcels slated for development on the northwest and southwest corners of Fischer and Hwy. 34, Seymour said those projects were financed by other banks are going forward, with construction expected to begin by the end of 2008.