Blue Ridge Golf & River Club

Blue Ridge Golf & River Club

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Since: Dec 10

Georgia

#1 Mar 28, 2011
I hear that 9 holes will be open for play 7/3/2011. Doesn't look like anyone is working on the course. Anyone know what is going on?
Local

Blue Ridge, GA

#2 Mar 29, 2011
Uotay wrote:
I hear that 9 holes will be open for play 7/3/2011. Doesn't look like anyone is working on the course. Anyone know what is going on?
I could be wrong but the next place this lace will open is in the bankruptcy courts.
Tennessee Tea

United States

#3 Mar 29, 2011
I canoed the Toccoa today and paddled right by it, the 9 holes that are there looked terrible and over grown......to bad it could of been a really nice place.
Dumb

Blue Ridge, GA

#4 Apr 11, 2011
Not really sure why they decided to waste money by putting that thing there. It was a terrible idea. I don't see it being open any time soon...or ever.

Since: Aug 11

Blue Ridge, GA

#5 Sep 1, 2011
Any new news? They removed their phone number from web site.
Disappointed

Onalaska, WA

#6 Sep 1, 2011
Who built it? Tom Carroll?
Life In A Small Town

Covington, LA

#7 Sep 2, 2011
Dumb wrote:
Not really sure why they decided to waste money by putting that thing there. It was a terrible idea. I don't see it being open any time soon...or ever.
That project got underway when building was booming, folks were moving into Fannin, and too many who should have known better thought it was going to last forever. If you keep a check on the foreclosures in the News Observer you will see how many locals who were going "big time" went under when this thing hit. This is not a "recession"...it is a "Depression" and it is going to last a long time and hurt a lot of good folks. Someone will probably do this project when things pick up in ten years or so. Right now I have a hunch you could buy it for a song!
in the city

Morganton, GA

#8 Sep 4, 2011
For those who were swindled, they should have some recourse, there are so many. Who actually owns that land now, since they have bankrupted one company and started another?
easy rider

Paonia, CO

#9 Sep 11, 2011
in the city wrote:
For those who were swindled, they should have some recourse, there are so many. Who actually owns that land now, since they have bankrupted one company and started another?
wonder if the bank ever let anyone close on the lots
if not then its all bank owned

“Good to Go!!”

Since: Sep 11

Location hidden

#10 Sep 22, 2011
its dead, all the rolling stock is gone. The former eastern airlines pilot that sold it for $3 mil is lauching in his grave. the lots were ridiculously priced, and Blue Ridge doesn't have the amenities like Highlands NC has for the million dollar crowd. It was a build it and they will come deal

“Good to Go!!”

Since: Sep 11

Location hidden

#11 Sep 22, 2011
developers are/were Pete Bailey (Cuscowilla), Fritz Rybert, Charlie Ackerman, so there are some (formerly) deep pockets. Bank was Atlantic Southern Bank , which was shut down by the FDIC on September 14. http://www.fdic.gov/bank/individual/failed/at...
, so the taxpayers now own the loan.No bankruptcy showing for Blue Ridge Golf and River Club LLC or Blue Ridge Golf and River Holdings Holdings LLC
Dankston Hughes

Atlanta, GA

#12 Sep 22, 2011
^You're actually completely wrong - Atlantic Southern was resolved by Blue Ridge Holdings in May. Covered assets threshold was 80%.

“Good to Go!!”

Since: Sep 11

Location hidden

#13 Sep 22, 2011
Dankston Hughes wrote:
^ Atlantic Southern was resolved by Blue Ridge Holdings in May.
have no idea what that means...resolved??? Atlantic Southern Bank is now FDIC, see the link. Perhaps you mean the property was refinanced? And why is the development stopped?

“Good to Go!!”

Since: Sep 11

Location hidden

#14 Sep 22, 2011
Dankston Hughes wrote:
^You're actually completely wrong - Atlantic Southern was resolved by Blue Ridge Holdings in May. Covered assets threshold was 80%.
Try being more specific. Not sure what you feel is "completely wrong" about the post. Those were the original developers; Atlantic Southern Bank definately failed earlier this month, which could be good or bad for the developers and their guarantors. No entity called "Blue Ridge Holdings" in the property records in Fannin. Last recorded activity is in October 2010, where Atlantic Southern released a single lot. Development definately stopped. Not sure how you "resolve" a failed financial institution. We know all about covered asset/loss share, if a new bank now holds the former Atlantic paper. Do you mean the property has been refinanced? Seems like they would have recorded a new security deed by now. You might also address thge overall viability of this tyoe of development in both this location and with the current dead real estate market, which was the OP's question
Dankston Hughes

Atlanta, GA

#15 Sep 22, 2011
http://www.macon.com/2011/05/29/1576125/new-b...

Blue Ridge Holdings is the holding company, hence the name; it was a platform recapitalization deal - may be over your head...

“Good to Go!!”

Since: Sep 11

Location hidden

#16 Sep 23, 2011
Dankston Hughes wrote:
http://www.macon.com/2011/05/2 9/1576125/new-bank-on-the-bloc k-expansion.html
Blue Ridge Holdings is the holding company, hence the name; it was a platform recapitalization deal - may be over your head...
HAHA what an arrogant response. Actually we know all about transactions infusing capital into failing banks. You meant to say the post was "completely wrong" solely as to the current state of Atlantic Southern Bank. "Blue Ridge Holdings. Inc., a Delaware corp." entity just bought the failing bank, and has nothing to do with Blue Ridge, Georgia or the Blue Ridge Golf and River Club development. Internal recapitalization of the lender have nothing to do with the existing credit secured by the defunct golf course community, which may be performing or not. To the local people near the development, it looks like a dead deal. We all wondered why the roads were never topped, or any vertical construction performed other than the waste water plant, which actually is to be third party managed by Piedmont Water. So people go ring up Dankston at the bank and borrow some new money, but don't look to lace up the spikes for a round of golf at the club
Dankston Hughes

Atlanta, GA

#17 Sep 23, 2011
Blue Ridge Holdings is incorporated in DE, but is headquartered in Atlanta. It's a platform recap, and the holding company for Certus Bank, which is the entity into which Atlantic Southern will eventually be assimilated (ie, Atlantic Southern is no longer listed in Blue Ridge Holdings's corporate structure). You'd have to see Certus Bank's loan tape to determine definitively whether or not the loan is performing.
distant dreamer

United States

#19 Jan 29, 2012
This place deaxer then door nail....great ideas stupid place poor lots.....what happens to the people that did buy lots in there many were sold.
Emma Sapphos

United States

#20 Jan 31, 2012
Dankston Hughes wrote:
You'd have to see Certus Bank's loan tape to determine definitively whether or not the loan is performing.
No need to see that tape, the loan is dead
easy rider

Paonia, CO

#21 Feb 2, 2012
Emma Sapphos wrote:
<quoted text>
No need to see that tape, the loan is dead
what bank has it now?

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