Report: State offered to buy Chimney Rock Park

The State of North Carolina reportedly made an effort to purchase Chimney Rock Park recently, but the offer apparently wasn't enough. The family that owns the park is hoping someone will drop at least $55 million on the landmark; development is not out of the question, either.

The state is still hoping to purchase the park and transition it into a state park.

"Much of the 1,000-acre Chimney Rock Park put up for sale for $55 million this week would be open to development, should negotiations with the state fail," said an article in the Asheville Citizen-Times.

"Chimney Rock Co. President Todd Morse stressed Wednesday that he and his family — owners of the land for more than a century — want to preserve the park’s trails, the chimney and other sensitive natural areas. ...

" 'If you had a development up on top of the mountain that could be separate from the park but had some interaction with the park — if you could leave the park basically alone — that’s one thing that could be kind of wonderful,' Morse said."

North Carolina had offered $20 million before the property was put up for sale, Jill Lucas, a spokeswoman for the state Department of Administration, confirmed Wednesday. ...

State Sen. Walter Dalton, who is working to assemble land for a state park planned for the nearby Hickory Nut Gorge area, said the state’s offer was the top price suggested after an independent appraisal of the property’s value.

“It’s a little disappointing that we were in negotiations and we have an objective appraisal and put that money on the line,” only to see Chimney Rock go on the market for nearly three times the appraised price, Dalton, D-Rutherford, said Wednesday.

Negotiations with the N.C. Division of Parks and Recreation have been ongoing for more than a year. Morse said they would continue, but his company has to explore all options. ...

The Rutherford County Tax Office put the total assessed value of parcels owned by Chimney Rock Co. at $4.9 million, including the park’s buildings. That assessment comes from 2002, a total that likely will go up when property revaluations are completed this year. ...

Chuck Tessier, the owner of a real estate management and consulting firm in Asheville, says putting the property on the open market makes business sense.

“An asset like that is like a piece of art — it has a unique value for different people,” Tessier told the media.