Hotels, shopping, dining, water rides, shark tanks and a swim-with-the-dolphins attraction… All of this surely sounds like great fun, and even better it’s located in Gulf Shores, well, maybe… Finally, it looks 144-acre Bama Bayou entertainment complex may get to see the day of its completion.
The Bama Bayou entertainment complex is represented by Sam McKerall a Gulf Shores lawyer who has said he is trying to assemble a new group of investors to complete the project. The goal would be to open the doors during next year’s Spring
break.
The project was originally begun eight years ago when Orange Beach requested proposals for a year-round tourist attraction located on property at the northern landing of the Beach Express toll bridge. The goals of the project quickly changed with the passage of time, but construction still continued up until last March when Vision Bank, the primary lender, backed out. The bank stated that the developers defaulted on a $21 million dollar loan and most of the property went to auction.
Vision bank ended up buying the property for $10.3 million in the auction and is seeking the balance of the debt. The developers claim that Vision Bank did not deliver the financing and are asking a judge to negate the results of the auction, and are also seeking $21.2 in damage from Vision Bank. Several other investors, banks and builders have filed pending lawsuits regarding the construction of Bama Bayou.
The best way to clear up this mess would be to find new buyers for Bama Bayou, according to Sam McKerall. This would clear the debt owed to Vision Bank, release the developers from liability, and provide a viable project to surround the upstate investors' landlocked tower.
Let’s hope Bama Bayou gets completed What a great economic asset it will be for Orange Beach.
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