Why would anybody buy a resort/land, and let it go fallow? None of this makes sense.
What little I know about developers, is that they buy properties that aren't making money because the maintenance of older properties has exceeded the profit or close to it, and have to shut it down or look for investors.
Investors aren't going to invest in something that isn't going to make them money, or their income won't allow investments because of downturns in their businesses that eliminate investment money's.
I suspect that is what happened, but You all could be right. They tore it down to let it set.
Originally they talked the county into forming a TIF district for them. The lodge was never reopened, nor any of the facilities on the south side of the roadway.
They kept the gas station, and golf course open on the north side of the highway. They made public promises to keep the south golf course open, but that didn't happen.
It's gone back to nature, and actually would be a nice wildlife park.
After 8 years, the county dissolved the TIF. No investors have ever come forward. the fishers have plotted out luxury house lots on the edge of the lake, and tried illegally to sell Corps of Engineers property. That's currently being looked at by investigators. The CLO is "suing" for contact failure, but its the exact same people who sold the property to them in the first place. Last fall they came out with some weird agreement with swapping land, and for the state actually buying the fishers MORE land, plus trying to get more Corps property.
Sound Crazy right? It's extremely convoluted, and highly suspect. The entire deal. Jay Paul Gumm was convicted in Mississippi recently, and half of the former employees of the tourism/clo departments now work for the fishers/McClendon. Our local state Reps/Senators received large donates/trips from these people.
A recent article shows that Fisher/McClendon used state tax rebate credits to pay for this whole deal. Which according to the article is illegal..