Fla. Cops Probe Millionaire Developer's Death

June 26, 2008— -- Stephen Walsh, the well-known real estate developer who spearheaded multimillion-dollar projects from the Carolinas to Florida, was found dead in his home Wednesday afternoon of an apparent gunshot wound, according to police in Winter Park, Fla.

Police found Walsh, the 61-year-old managing partner of the Charleston, S.C.-based Broad Street Partners, dead shortly after 1 p.m. when a concerned co-worker went to Walsh's Winter Park home after he failed to show up for a meeting, Sgt. Pam Marcum, Winter Park police spokeswoman, told ABC News.

Walsh had suffered an apparent gunshot wound, Marcum confirmed, adding that a long gun (a shotgun or rifle) was recovered from his million-dollar house in an exclusive Florida neighborhood. Authorities have not yet determined whether Walsh was murdered, but Marcum said the incident "does not appear to be a random act of violence."

An autopsy has been scheduled for today at the Orange County Medical Examiner's Office, Marcum said, adding that it could take several days for authorities to determine if the death was murder, suicide or accident.

Police declined to say anything about the condition of the house, or in what part of Walsh's body the bullet had struck.

Walsh's wife, Paula, was out of town when her husband's body was found, Marcum said.

Walsh is described on the Broad Street Partners Web site as a native of North Carolina who has been involved in real estate development, construction and finance for more than 30 years. Walsh has worked in both residential and commercial properties, including the development of a 32-story building in downtown Charlotte. He was also previously involved in the banking and cable industries.

The company Web site includes testimonials Walsh received over the years from industry colleagues praising him as a "man of integrity in good times and bad," "a man of his word" and a "class act."

The company released a statement today expressing sadness over his death and requesting privacy for his family members.

"We adored Stephen Walsh, a loving husband and incredible father," the company said. "The size of his heart and his smile will remain unmatched. We miss him terribly and take great comfort in knowing that he made such a tremendous difference in the community."