Lender is only bidder for Bon Secour Village - al.com

Lender is only bidder for Bon Secour Village - al.com: "BAY MINETTE — Once heralded as a half-billion-dollar development so vast that it would have its own school, water taxis and downtown, Bon Secour Village in Gulf Shores has joined the ranks of south Baldwin County's boom-era big ideas to become bank-owned.

Wachovia Bank, which earlier this year won a $20.4 million judgment against the project's developers, took ownership of an estimated 900 of its 1,000 acres Tuesday after an auction on the steps of the Baldwin County Courthouse failed to solicit a single bid.

At midday, the lender's lawyer, Steve Woodard, read seven legal descriptions to a courthouse plaza that was empty except for a few snacking jurors, courthouse employees on break and another bank attorney."