Bon Secour Village development property ordered auctioned to pay debt

Bon Secour Village development property ordered auctioned to pay debt

A federal judge has ordered that the Bon Secour Village property in Gulf Shores be auctioned to clear the more than $20 million that the failed project’s developers owe Wachovia Bank.

In an order signed last week in Mobile’s federal court, U.S. District Judge Kristi DuBose outlines the process by which the lender, through a court-appointed receiver, can sell about 880 acres.

Billed as a town within a town along the northern shore of the Intracoastal Waterway, the $500 million development has been mired in financial and legal problems for the last year