Word is trickling in that developers have pulled the plug on Thornton Park’s Eola Place, just a month after bull-dozers made way for the new 16 story condominium project, due for completion in 2008.

Last month, the mayor of Orlando, Buddy Dyer and commissioner Patty Sheehan donned hard hats as they supervised the destruction of two older units to make way for 510 new condos, which were to range in price from $270k to $1.6 million.

The sales center located at 330 E. Central Blvd now appears to have closed its doors, leaving questions about the future of the multi-million dollar site.

2007 promises to be a defining year for many developers. Unfortunately, Eola Place is unlikely to be the only downtown casualty.