Southport Village Partners, LLC, which owns the 4.7 acres bordered by Old Post Road, Rennell Drive and John Street, hasn't sold any condos and has been in default on a $49.6 million construction loan from TD Banknorth since October.

The default arose because SVP wasn't able to meet sales and conveyance targets that had been set in an amended loan agreement last September, according to Stuart Baldwin, SVP's managing member.

Along with SVP, other defendants named in the bank's lawsuit are:

FSPP II Southport Lender, LLC, a limited liability company that loaned SVP $14 million in May 2005.

New England Stone Inc. in Milford and Sarracco Mechanical Services Inc. in Naugatuck, two subcontractors on the development who filed liens totaling $845,438 against SVP's property.

A.P. Construction Co. of Stamford, the general contractor that filed a $5.8 million lien on the property.

Two more subcontractors, MacKenzie Painting Co. and Stately Stairs, filed the most recent liens, totaling $391,339, against SVP's property.

Liens on SVP's property now total $7 million.

"We haven't yet been served and consequently cannot comment on this pending action," Baldwin said of the foreclosure proceeding.

SVP about seven years ago submitted the winning bid of $5.28 million to buy the property when it was auctioned in the town's Probate Court.

SVP, a group of Fairfield residents, wanted to control how the property was developed, but the density of its condo and inn development drew criticism from its neighbors and longtime Southport residents.

While no properties had sold in Southport Green as of Tuesday, Baldwin previously said he had sales contracts totaling $25 million. Louis L. Ceruzzi Jr., a Fairfield developer, leased 6,500 square feet in the inn last spring, but the lease didn't include a purchase option.