MORGANTOWN, W.Va. — A U.S. bankruptcy judge has signed off on a reorganization plan signaling WestRidge’s emergence from Chapter 11.
Judge David Bissett approved the plan that will include a combination of public financing in the form of tax increment financing and sales tax increment financing bond issuances approved in July by the Monongalia County Commission. According to WestRidge officials, institutional bond investors include BlackRock, Goldman Sachs and Invesco. New private financing will also be provided by longtime lender First United Bank & Trust.
Ryan Lynch remains president of WestRidge and members of the Lynch family continue to hold a majority ownership interest. However, WestRidge’s leadership structure will include the addition of a board of directors and a chief financial officer moving forward.
The plan will also account for the sale of two properties at auction – the 136,865 square foot shopping center that includes Kohl’s Home Goods, Shoe Carnival, PetSmart, Burlington and Ross – and a 43,287 square-foot corporate office building with the Jackson Kelly legal firm as the anchor tenant.
According to court documents, StanCorp was the high bidder with an offer of just over $24.5 million. Closing on those properties is expected to occur in October. Existing tenant leases at those properties will be assumed by the buyer.
WestRidge has opened more than 500,000 square feet of new retail since it’s inception and more than 200,000 square feet of office and distribution space.
Starting in the second half of 2022, the developer experienced a slow-down in property sales due to a downturn in the real estate market coupled with an unprecedented rise in interest rates.
Additionally, WestRidge invested significant resources in the development of a distribution center for Owens & Minor. That deal, which was expected to bring WestRidge an estimated $40 million in lease payments over 10 years, ultimately fell apart. Owens & Minor ended up in the Morgantown Industrial Park with the two sides ultimately suing one another.
WestRidge filed for Chapter 11 in August 2025 in response to lenders Piper Canyon Partners LLC and RMWC WA Credit LLC filing an emergency motion for the court to appoint a receiver – a custodial third party who would take managerial control over WestRidge’s assets.
Westridge officials also noted in the statement announcing emergence from bankruptcy that through the Chapter 11 case, the developer continued funding design and pre-development work ahead of the Exit 155 project. The first phase of which has been opened for bidding by the West Virginia Department of Transportation.
WestRidge expects to announce new tenants in early 2027.
