Real Estate Development

UNIVERSITY OF NORTH CAROLINA ASHEVILLE

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	"The Golden Hesperides" Charles Dudley Warner "It has been a subject of regret ever since that I did not buy Southern California when I was there in March, 1877, and sell it out the same month. I should have made enough to pay my railway fare back, and purchase provisions to last through the desserts of sand and feeding places, and had money left to negotiate for one of the little states on the Atlantic cost, and settle down in such plain living and civilization as it might afford. It was all offered to me, but I hesitated, and before the end of the month it was beyond my reach.... " So said Warner of California real estate. It is not difficult to find parallels in Asheville's development.
	Asheville has, from time to time, also experienced rapid real estate turn over and rampant speculation. The idea of a "Paris of the South" was once floated, but then came the '30s. The real estate exuberance of Ashevillians could be argued as the act that "saved" the city. The bond debt was so high that the reconstruction that took place in many of the cities of the South could not be undertaken in Asheville. Many of our original structures from the era of "exuberance" have survived and today are part of the city's many landmarks. Has the market cooled down following the current economic slow-down? "Not that much," some would argue. The following are some of the projects still under consideration for Asheville in 2009.
	2009 Asheville - still under consideration --- The Ellington. The 23-story luxury hotel and condominium project adjoining Biltmore Avenue and Aston Street. City Council approved. Hotel Indigo. Hotel and condo building on site of former Asheville Area Chamber of Commerce, Haywood Street. The construction is underway. See the Hotel and Motel Management, October 2, 2008 article http://www.hotelmotel.com/hotelmotel/Hospitality+Headlines/IHG-plans-Hotel-Indigo-for-Asheville-NC/ArticleStandard/Article/detail/462033 Ravenscroft project. Four seven-story buildings and one six-story building at end of Ravenscroft Drive. 150 condominiums and retail and office space. Council approved.On hold pending economic picture. Biltmore Avenue Hotel/Garage (McKibbon Hotel Group) A 7 story 145 rm and commercial space building at corner of Biltmore and Aston. Council approved design. Parkside Condominiums. Off Pack Square. On hold pending legal settlement. Zona Lofts. A 15 story 160+ condominium building planned for Coxe Avenue. Sits on unstable fill and more engineering needed. Civic Center Hotel/Garage. On Haywood street across from Civic Center. Awaiting approval of revised plan. 60 North Market. Condominiums under construction and over 1/4 of units have sold. Haywood Park. Development of two tall buildings between Page Avenue and Haywood Street failed to pass City Council. No plans to re-submit at this time.
	W.B. Gwyn Collection, [M02.7.1.1-2] - Ledgers of legal correspondence from 1891-1894 involving various prominent Asheville figures. Traces many of the land and real estate negotiations during the "exuberance" of the turn of the century.
	Live and Invest in the Land of the Sky (1920's) A 44 page promotional booklet for real estate interests in Asheville and environs. Includes descriptions of many planned communities in the region. Grouped by real estate company, some information is included regarding the companies.
F215 .W56 1900	Winter Homes in the South - The Southern Railway (1900) [Brochure] A small brochure promoting the real estate and travel and tourism highlights along the route of the Southern Railway.
	"Overlook" Asheville, North Carolina (1940's ?) Small, un-paginated, eleven page booklet, describing "Overlook," Fred Seely's private residence on Sunset Mountain. Prepared for the sale of the property by Roy E. Burton, Realtor, in the mid 1940's. Contains text about the home and images of both exterior and interior.
	Papers of Irwin Monk (1916-1978), Asheville lawyer . Monk was legal counsel for many real estate deals in Asheville and the surrounding area.