The following is from the most current Real Estate article from Mobile Bay Times:
The bank-owned Saltaire property on Mobile Bay sold to Blake Southern Homes for more than $1.2 million. The investors see the project as a bay front alternative to driving across the bay-way to Eastern Shore subdivisions.
Blake Southern will use the original master plan for a 500-acre town with 1,250 homes, a fitness center, park, retail stores, two stocked lakes and restaurants. Investors plan to build 100 houses in the community this year.
About nine homes were built in Saltaire before progress was stopped in 2008. About $19 million had already been invested in the lakes, a bridge and roads. A local developer kept more than 100 acres on the southern side of the property.