Another high-profile proposed development faces foreclosure. Bank of America has started foreclosure proceedings against the waterfront site of the ambitious New Port Tampa Bay project, according to documents filed last month in Hillsborough County Circuit Court. The 52-acre site is at the corner of West Shore Boulevard and Gandy Boulevard. The plan called for a marina and 1,200 condo units and shops. The developer, Tampa-based EchoGroup Inc., put plans on hold in November and said the company would either start the project when the real estate market improved or sell the land.
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