A grand deal for North Carolina
In my view, Grandfather Mountain is the grandest place in North Carolina. So the idea that I, as a resident of this state, can become a part-owner of sorts for whatever my share of $12 million purchase price will come to is just remarkable.
This might be the best land deal since the U.S. bought Alaska from Russia for $7 million in 1867. That transactions was foolishly ridiculed as Seward's Folly after the secretary of state who negotiated the agreement. Maybe this will be called Easley's Steal -- except the Morton family isn't being robbed. They're in effect making a huge donation to the people of North Carolina.
Compare this to the state's acquisition of Chimney Rock Park last year. That cost $24 million for 1,000 acres -- and sounded pretty good to me. Chimney Rock is a jewel.
But Grandfather Mountain comes with 2,600 acres for a price that works out to a dollar and change for every resident of North Carolina. Thank you, Crae Morton and family.
Most of that acreage is rugged wilderness, which now can be preserved forever -- a priceless treasure.
But the park also includes valuable development -- a road, a visitor center, a museum, wildlife habitats, McCrae Meadow where the annual Highland Games are held, the famous Mile High Swinging Bridge and an extensive trail system. The hiking up there is outstanding, and the views are unsurpassed in Eastern America.
My only concern is maintenance. I hope the state will do a good job of keeping it up. I'll guess the state will continue the current admission charges, or close to it, to pay for upkeep.
Grandfather Mountain has always been a great asset for North Carolina. The Morton family has operated it almost like a public trust. I suppose the danger was that, someday, they'd no longer be able to do that. So now they're entrusting it to the public, and it's going to be an asset of North Carolina. Let's do it justice and enjoy it as long as it stands against our western horizon.
Comments (4)
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Almost as good a deal as the G-Boro / Canada Dry deal. Wait. I did the math wrong. Looks like a little more than a dollar and change per resident. Oh, well. Whataya gonna do?
Soon the government is going to own everything.
Posted on September 29, 2008 2:24 PM
Doug, any chance for any editorial comment on the Pettiford payoff er...I mean- settlement. I mean, was it clear to any of the editorial-writing folks why this was done? I read the N&R piece and it's not clear. If any of ya'll know, help us out here.
Posted on September 29, 2008 2:44 PM
Gee, I just read were we are in are in big money trouble. And we are going to buy a park? If it's such a good deal, private money would jump all over it. You folks at the NR think its a good deal, you buy it! Maybe we could rip off some more school money to pay for it, are maybe float another big loan.
Posted on September 30, 2008 8:14 AM
As a financial transaction, any private company with $12 million would buy Grandfather Mountain at that price in a heartbeat because they could sell it off in parcels for many times that amount of money. But the point, Mr. Johnson, is not to sell it to private interests for development but to preserve it as it is for the benefit and enjoyment of all North Carolinians.
Posted on September 30, 2008 8:45 AM