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The Coastal Company misses deadline, property owners can't build

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We have an update on a Brunswick County developer who hasn't delivered as promised for property owners. The Coastal Companies, headed by Mark Saunders, missed the deadline to install water, sewer, and roads in several developments, including Seawatch and Ocean Ridge Plantation. As a result of this, many property owners are in a bind because they can't build homes until that infrastructure is complete. Monday night, county commissioners decided to extend Coastal's deadline to finish the infrastructure. New completion deadlines range from 2010 to 2012. If the work isn't finished by then, the county plans to call in the bonds so they can do the work themselves. There were also a couple of development phases in the Seawatch Community that weren't bonded at all. The county is conducting an internal investigation to determine how that slipped through the cracks.

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