The Canadian Press - ONLINE EDITION

Colonial Williamsburg offers lone bid for Carter's Grove, returning plantation to old owner

  • Print

RICHMOND, Va. - Carter's Grove is returning to Colonial Williamsburg after a wealthy Virginian whose fortune went bust had to abandon the centuries-old plantation.

Colonial Williamsburg submitted the lone bid of $7.4 million Wednesday for the 400-acre property on the James River in Virginia's Tidewater region. The bid was subject to U.S. Bankruptcy Court approval.

The property is valued at just under $15 million.

The court-ordered sale attracted strong interest but only Colonial Williamsburg qualified to bid, trustee Stanley J. Samorajczyk said in an interview.

To qualify, bidders had to submit a $250,000 deposit and proof they were financially qualified to purchase the plantation with more than a mile of river frontage and an historic, fully restored mansion.

Samorajczyk blamed the still-dicey economy for the dearth of qualified bidders. "I think it's a function of today's marketplace," he said.

Colonial Williamsburg said it would have no comment on the purchase until the court approved the sale later Wednesday.

The 18,700-square-foot plantation house, considered among the best examples of Georgian architecture in the U.S., was built in 1755 and has ties to the very earliest European settlers in Virginia. It's only miles from Jamestown, the first permanent European settlement in America.

The Rockefeller Foundation donated the property to Colonial Williamsburg in 1969 and it was open to tourists until 2003.

In 2007, Halsey Minor, a wealthy dot-com entrepreneur from Charlottesville, purchased Carter's Grove for $15.3 million. He planned to live there and use the property and its stables as a thoroughbred horse farm.

In a Fortune magazine article shortly after the sale, Minor bragged he had purchased the "most historic property in America."

But Minor lost his riches in the recession and he never lived at Carter's Grove. He filed for personal bankruptcy in 2013.

In a separate proceeding, Carter's Grover was placed under bankruptcy protection in 2011 after Colonial Williamsburg closed on the property.

Colonial Williamsburg's bid equals what remains on the property's mortgage, Samorajczyk said.

But he said the final purchase price will balloon because of "significant" other costs related to the sale. More than $600,000, for example, was spent on repairs of the mansion since Minor purchased it.

The closing on the property is by month's end and Samorajczyk is hopeful a buyer will come forward before that.

___

Steve Szkotak can be reached on Twitter at http://twitter.com/sszkotakap .

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Winnipeg Cheapskate: Cheap summer weekends

View more like this

Photo Store Gallery

  • A  young goose stuffed with bread from  St Vital park passers-by takes a nap in the shade Thursday near lunch  –see Bryksa’s 30 day goose challenge Day 29-June 28, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • A Yellow-bellied Sapsucker hangs out on a birch tree in St. Vital. The Yellow-bellied Sapsucker is considered a keystone species. Other species take advantage of the holes that the birds make in trees. A group of sapsuckers are collectively known as a

View More Gallery Photos

Poll

Should the city grant mosquito buffer zones for medical reasons only?

View Results

View Related Story

Ads by Google