The huge Black Creek property in Lookout Valley has been on the market for just two days and already there has been "incredible interest" shown by buyers from as far away as England, officials said.
Steve Ekovich, director of Leisure Investment Properties, said the property has already been shown to a private equity firm.
The 2,600-acre property, that was once known as Cummings Cove, is being offered in three sections. Mr. Ekovich said they could all go to one buyer or to several.
They include:
$2.5 million for the Black Creek Golf Course that has been rated as high as the #23 course in the country. He said some $4 million was spent to upgrade the clubhouse, including adding an Infinity waterfall pool.
$4,460,000 for 187 developable lots. Mr. Ekovich said new lots went on sale in April and 31 have already been spoken for.
$9.9 million for 2,200 acres on top of Aetna Mountain. Officials earlier said a small community was being there.
The Black Creek developers earlier obtained a controversial $9 million Tax Increment Financing to build a road and install sewers up the mountain. That work has never been started. Mr. Ekovich said he believes the TIF could be transferred to the new owner.
Citizen Helen Burns Sharp filed suit in connection with the handling of the TIF and won. There was recently an out-of-court settlement with her.
The property was originally developed by Jimmy Chapin, then it was transferred to Doug Stein and Gary and Robert Chazen. The latter group hired Southern Land Company to begin the development of a master planned community.
Mr. Ekovich said the property also includes 3.5 miles of nature trails and a sports complex.
The Black Creek owners have long been embroiled in a dispute with a few other private landowners on top of Aetna Mountain and with those who take four wheelers up the old Aetna Mountain Road. A judge earlier declared that the road, which dates to Civil War days, is a public road.