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Fire sale at Stonebridge Ranch
When 30,000 people the 1988 grand operating of Stonebridge Ranch in McKinney, they saw a community replete with the kind of amenities that typically display a gilded price tag.
Little did they know that stonebridge would become the Federal Deposit Insurance Corp.'s blue light special of 1990.
The FDIC, now owner of the 6,200-acre development, is soliciting bids of between $45 million and $80 million for a project once valued by its developer at more than $300 million, according to information distributed by the agency to prospective buyers.
Once the McKinney development is sold, regulators be freed of the political baggage Stonebridge has represented since it …