The owner of McFadden dealerships said he still hopes to put together a deal to buy the former Red Coach Inn site on Route 394, despite the fact that the Realtor called the purchase contract void the previous day.
"We may have been a little naive in thinking we could put this together so quickly, when we made our announcement last fall," William McFadden said Friday.
Realtor Tom Turner, acting on behalf of property owner Dr. Tom Roselle of Virginia, said McFadden missed two deadlines to close the deal.
Said McFadden: "I do not believe this contract is void and I would like to try to work it out, but I cannot finalize my financing or a purchase until the State Environmental Quality Review is finished."
The proposed $5 million auto mall complex came under heavy criticism from neighbors, and the Chautauqua County Planning Board raised concerns last fall about a thorough environmental review.