$500 Million Trailer Park Sale Falls Through

A developer that had offered to make the residents of a Florida seaside community overnight millionaires has walked away from the deal after negotiations stalled.

1 minute read

July 31, 2007, 6:00 AM PDT

By Christian Madera @http://www.twitter.com/cpmadera

"The would-be millionaires of Briny Breezes trailer park may have lost their big chance.

A developer who agreed in January to pay $510 million for the waterfront trailer park town canceled the deal Monday because of a dispute with the community, though the company promised to try to work out the differences."

"Ocean Land planned to turn the community of 488 trailers into about 900 multimillion-dollar condo units, a high-end marina and a 300-room luxury hotel. The proposal was scaled back from an earlier version, but Palm Beach County officials and area town leaders remained concerned about such a high-density development coming into the already cluttered coastline."

FULL STORY: $510 Million Trailer Park Deal Hits Wall

Monday, July 30, 2007 in AP via ABC News

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