I think it was the Ash Wednesday Storm of 1962 that destroyed much of the roads and development that made it obvious that the island was not fit for development. 1956 however was an important date as it was when Assateague State Park was established, a 2 mile section of the beach which is the first park encountered when coming over the bridge.

The major development [15 miles of continuous beach] that had been planned and destroyed was called Ocean Beach which had over 2,000 lots platted. One can still see the plans at the Visitors Center just prior to the bridge.