Developers pull plug on Mandolay Beach resort in Orange Beach - Breaking News from the Press-Register - al.com

Developers pull plug on Mandolay Beach resort in Orange Beach - Breaking News from the Press-Register - al.com: "ORANGE BEACH, Ala. -- Withered two years ago when developers defaulted on $100 million in loans, plans to replace a storm-battered stretch of beach houses and low-rise condos with the state's tallest residential towers have officially died, according to city officials.

'It was just too big a project to do in this economy,' said Greg Leatherbury, a lawyer who worked with Mandolay Beach's six lenders as they tried to revive the project last year."