Sunday, February 24, 2008By RYAN DEZEMBER
Staff Reporter ORANGE BEACH -- After battling for three years to clear mid-century land restrictions that blocked construction of two high-rises, developer Larry Wireman has canceled the third and fourth towers of his luxury condo project Turquoise Place.
Amid a sluggish resort real estate market, Wireman said last week that he declined to finalize deals with nine property owners with whom he contracted in 2004 to buy lots for a reported $55,000 per Gulf-front foot.
Each owner stood to collect about $5.5 million had the sales gone through.
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