X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-The Georgia chapter of the Washington, DC-based Trust for Public Land has purchased two tracts totaling 95 acres along the headwaters of the Chattahoochee River for nearly $1.9 million, or $19,789 per acre.

Determined to save pristine riverfront land from commercial development, the trust says it will eventually resell the land to separate state agencies. The deals, although not highly publicized, are considered important for metro area residents who receive their drinking water from the Chattahoochee.

The 57-acre and 38-acre parcels are near Helen in White County.The trust paid $1 million, or $17,544 per acre, for the 57-acre property which reportedly contains gold mines created in the 1880s, according to the trust. The property has about 1,500 ft of river frontage and is approximately a mile from the 170-acre Hardman Farm which the state bought last year from the trust.

On the 38-acre tract, the trust paid developer J.B. White of Jackson, GA $880,000, or $19,789 per acre. White, a pro-environment supporter, plans to purchase additional riverfront tracts and resell them to the trust in not-for-profit transactions, local land brokers tell GlobeSt.com.

In the last five years, the trust and its associates, which include private landowners and local governments, have protected 70 miles of Chattahoochee river bank property totaling 10,000 acres.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.