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A 19-acre section of a failed Regency development is scheduled for a sheriff’s sale Feb. 17.

The sale of Michael’s Landing property marks the first auction sale of land in the multi-use development, which was named for Regency founder Michael Myers.

Vantus Bank won a $6.5 million default judgment in October after Michael’s Landing LLC and its business partners, including James and Robert Myers and other longtime Regency principals, defaulted on a loan.

Judges have awarded a total of $25 million to Vantus, First National Bank Midwest and Community Business Lenders for unpaid loans to Michael’s Landing LLC.

Sheriff’s sales have been ordered, but dates have not been set, on about 150 acres pledged as collateral for the First National Bank Midwest and Community Business Lenders loans.