Retired NBA star, Derrick Coleman, is being sued by a Detroit corporation after defaulting on a $200,000 loan he hoped would spur the rebirth of his old neighborhood.

According to The Detroit News, Coleman built a retail strip mall in Detroit, calling Coleman Corners. It boasts several shops including a pizza place, cell phone store, barber shop and Coleman's Snyx Sneaker Studio.

However, he stopped making monthly payments on his loan in June, so the Detroit Economic Growth Corp. filed a lawsuit against him on Wednesday (December 16) for failure of payment.

With interest and fees, Coleman owes $204,800, said the suit. The mall development was estimated to cost nearly $1.6 million, according to loan document.

Coleman had not commented on the lawsuit at press time, but a rep for the former NBA star-turned-businessman blamed tough economic times for the struggling development, now nearly vacant.

"The stores ... were opened up in better economic times," Coleman spokesman, Mort Meisner, told the Detroit News. "That neighborhood was hit very, very hard."

Currently, only the barber shop and a Hungry Howie's remain open, but Coleman is hoping to work out a deal with the DEGC to keep the remaining stores open.

Apparently, this isn't the only problems Coleman has these days.

The paper reports that Coleman's Sweet Georgia Brown restaurant closed in February after raking up $78,000 in unpaid rent.

Then, in October, Comerica Bank recorded three judgment liens against Coleman for a total $1.3 million stemming from other loans that he couldn't make payments.

Cole was the #1 overall pick in the 1990 NBA Draft, over players like Gary Payton, Jayson Williams, and Elden Campbell.  His career ended during the 2004–2005 season, when he was cut by the Pistons during the season.