Lookout Mountain, Ga., was readying for hundreds of new homes just south of the golf course, but that may not happen.
It was supposed to happen on hundreds of wooded acres along Lula Lake Road on the way to Lula Lake and Falls.
Instead, it appears that several wealthy individuals have bought very large tracts and may only build a single home on them.
The Cathy family of Atlanta, owners of the highly successful Chick-fil-A restaurant chain, bought tracts of 72.5 acres and 36.3 acres from Happy Valley Farms when the Hutcheson family began selling off their large holdings. The sale was for $1.1 million.
City Manager Kenny Lee said Seth Cathy, who lives in Chattanooga, plans to build a home there.
Jimmy Campbell, a longtime Lookout Mountain, Ga., volunteer and longtime overseer of its sewer program, said noted that Elliott Davenport and other family members decided to sell 123 acres along Lula Lake Road running up toward Covenant College. It was bought last year by Molly and Jefferson Grizzard for $1,638,161. Mr. Campbell said they are a North Chattanooga couple previously from the Rome, Ga., area. He also expects them to only build a home for themselves on the extensive property that he said has a dramatic view from the top.
Otherwise, the Maclellan family owns a section near the bluff below Lula Lake Road. The Hooper family owns another large parcel.
Mr. Campbell said in that long stretch of woodlands that had never been developed, it was once thought that 600-700 new homes would arise.
He said, "Now it looks like it might be more like 200 or 250."