May
31

126 Acre Island for $3 million?

By

Ginn Co. sells island to City of Charleston

Saturday, May 31, 2008

Morris Island is officially in the care of public hands.

The Ginn Co., a Florida-based real estate development company, sold the historic and environmentally sensitive island to the City of Charleston for $3 million on Friday.

The company originally bought the 126-acre site for $6.5 million with the goal of preserving it.
A deed restriction on the property prohibits development.

“We have saved and forever protected a treasure,” Mayor Joe Riley said Friday at an event that celebrated the sale.

The ceremony acknowledged a handful of other groups that played a role in the preservation efforts, including the Trust for Public Land, the South Carolina Conservation Bank, the Civil War Preservation Trust, Charleston County Parks and Recreation Commission and the South Carolina State Ports Authority.

LINK TO ARTICLE HERE:
http://www.charleston.net/news/2008/may/31/ginn_co_sells_island_city_charleston/

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