MCHENRY, Md. — The owners of Maryland’s only ski resort say they’re considering selling the landmark property to resolve financial problems linked to a slide in home construction around nearby Deep Creek Lake.
Karen Myers says selling the Wisp Resort is the last option she and her partners in DC Development LLC would pursue to repay more than $23 million to BB&T Corp. of Winston-Salem, N.C. They’re also seeking new investors in their businesses. But in an interview this week at the base of 3,100-foot Marsh Mountain, Myers said everything is on the table if they can’t buy more time.
The owners of Maryland’s only ski resort say they’re considering selling the landmark as the last option in repaying a loan that was used to build the nearby Lodestone golf course community. But only about 20 of the 197 planned home sites have been sold and the bank is demanding payment.
“One of my goals really was to be a part of Wisp in the next stage of development,” said Myers, whose group has owned the resort since 2001. “I hope that I’m a part of the team that does it.”
She said Wisp is in no danger of closing.
More here.
Buying or selling real estate in Garrett County or Deep Creek Lake, Maryland? Call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! 877-563-5350 - toll free
Posts
No comments:
Post a Comment