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Old 04-12-2009, 08:55 PM
 
386 posts, read 1,217,286 times
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Bama Bayou goes bust: Grand plans for Orange Beach gateway fizzle - al.com

To me, it was too much at once with The Wharf. Not to mention.. kind of a dumb name for a large development which I'm sure didn't help. Just like it was from 1998 to 2008, it was one of too many projects of this size that had people with large ideas but no one had the actual cash backing and backbone to carry it through to the end. See also Bon Secour Village and Five Waters. Current bust projects happening are Spanish Fort Town Center which has nearly tanked (thank god for Bass Pro Shops, aside from that all is at a stand still), Saltaire in Mobile, and Dothan is also sadly having its version with Country Crossing as well. All of this a result of developers with huge egos playing with people's emotions and using ridiculously low interest rate loans on questionable projects which added to overbuilding when the reality was that there wasn't enough demand for all these "lifestyle centers, resorts, planned communities, town centers"

Last edited by unstoppablemobile; 04-12-2009 at 09:13 PM..
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