Phoenix West II Condos
BP to pay Alabama condo developer $37.2 million, law firm says
The Birmingham law firm Hare Wynn Newell & Newton has won for an Orange Beach condo developer a $37.2 million windfall from BP, after the oil driller’s spill this year blunted Gulf Coast economic development.
Hare Wynn negotiated the settlement with BP on behalf of condo developer Brett/Robinson, which is building a 1.9 million square foot luxury condominium on the ocean in Orange Beach. It is one of the largest condominium projects in the state, Hare Wynn said.
“This unique project is the only high-rise condominium project under construction, to my knowledge, on the Gulf between Texas and Florida,” Gov. Bob Riley said in a statement on the settlement. “Right after the oil spill, BP began exploring ways to assist the project because of its importance to the entire state and I am pleased with the outcome.”
The Phoenix West II condo project is slated for completion by the end of 2012.
BP’s Deepwater Horizon drilling platform exploded in the gulf in April and spewed oil for three months. The oil fouled the water, killed wildlife, contaminated fishing grounds and decimated the tourist trade, leading to claims against BP for damages.
The oil company set aside $20 billion to pay such claims.