We won't see many big housing developments around here for quite sometime. Our population decreases in the region make these next to impossible.
In my opinion the main reason is that these projects were going to be high-end and real estate values have fallen too much to allow units to be sold at the prices they were going to need to make money. Now some of that price decline is certainly due to the drop in population, but housing prices have declined around the country and population continues to rise, so I don't think it is strictly a population problem.