BALDWIN COUNTY - There's a possible sign of the times in Baldwin County.

The tough economy forced one multi-million dollar Gulf Shores development into foreclosure.

Channel Three's Jake Peterson spoke to economists about the failed Bon Secur Village development.

Published reports show the developers were ordered to pay 20-million dollars back to banks for bad debts.

Just last year, the nearly *900 acre project was slated to be a upscale subdivision, but a slowing economy sealed the projects fate.

We use to hear building and stuff over there, now its been quiet.

Vicki Simpson lives next to the Bon Secur Village property.

The Gulf Shores Development was supposed to include dozens of fancy homes along the Intracoastal Waterway.

Simpson was hoping the project would boom.

We were excited we thinking it would be to do and maybe help our property value go up and all the big beautiful homes that would go up."

But the homes didn't sell and now weeds are growing on the proposed *500- million dollar development.

I think a little too rich for everybody's blood."

University Of South Alabama Economist Dr Don Epley says Simpson is partially right.

Dr. Epley says there are three reasons why developments go under.

They were either too extensive with there plans and they were going to build too many property's, secondly they are in the wrong location and third they were at the wrong price level.

He says most homes priced over 200-thousand dollars in Baldwin County aren't selling quickly...But cheaper homes are.

Eply says the Mobile-Baldwin County area 's workforce and population is expected to grow by four percent every year.

And that's why affordable housing will continue to do well.

Our projects show that Baldwin County will continue to grow even in the current environment with what's going on in Wall Street at it's historical trend."

Vicki Simpson would like to see something done with the neglected Bon Secur Property.

She thinks the land will sell when it's at a cheaper price.

It's a gorgeous area I love it wouldn't want to live anywhere else."

Baldwin County is hoping to keep the growth trend going.

They recently formed an affordable housing alliance.Property Busts