gated community

Luxury Asheville Gated Community Sold In Foreclosure

A luxury gated community in Asheville, North Carolina has been sold after foreclosure. The developer of The Thoms Estate lost the property in foreclosure to winning bidder, lender BB&T Corp. was the winning bidder for the Beaverdam property in a foreclosure auction and will look to sell it. The Thom Estate was a 83-acre development that was planned to have as many as 132 homes but only five lots were ever sold. The remaining property was deeded over to BB&T on June 14. The Asheville Citizen-Times reports that a gatehouse, streets and other infrastructure are already in place on the property. A new owner could just go ahead and develop the property although given the current real estate market that might be a bit of a risk.

The city had approved plans for the development in 2007 and a ban on new gated communities was enacted just a few weeks later. At the time of foreclosure the development company, The Thoms Estate LLC, owed the bank $9.1 million on an $18 million loan and hadn't made a payment since February 2009. Lots were once $300,000 and $400,000 and a model home had a price of $2 million. The property was going to have a lot of public amenities including a manor house, labyrinth, artists studio, koi pond, fitness center, greenhouse, a restored barn for summer events and more.

Tags: foreclosure, gated communities, gated community, north carolina real estate

Summit Village At The Greenbrier Sporting Club

by Deidre Woollard (RSS feed) —

Filed under: Estates

The latest addition to the posh Greenbrier resort in West Virginia is the Summit Village at The Greenbrier Sporting Club. The private gated resort home community is adjacent to the resort and offers amazing views from 3,300 feet up in the Allegheny mountains. The village consists of 56 home sites. The Summit Lodge offers a casual fine-dining restaurant, a bar and a lounge. Next to the lodge is the bar-like activities center which has an indoor basketball court with cushioned maple floors and locker rooms. The community also has an outdoor infinity-edge pool with views of the Greenbrier Valley and an outdoor amphitheater. The Greenbrier Sporting Club includes a golf course, spa, members' lodge with a restaurant, equestrian facilities and access to all of the amenities at the Greenbrier resort. The home sites range from 0.75 to 7.5 acres and cost from $650,000 to $1.2 million. There is currently a five-bedroom house on .75 acres in the village for sale for $3.9 million.

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Tags: gated community, greenbrier, private community, summit village at the greenbrier sporting club, west virginia