Amelia Island Plantation to be Sold August 26, 2010

Amelia Island Plantation to be Sold August 26, 2010

Amelia Island Plantation is due to be sold in bankruptcy court on August 26 according to an article in Jacksonville.com.

Atlanta-based Noble Properties is the original buyer, who had offered $45.9 million when Amelia Island Co. filed Chapter 11 bankruptcy in May. Ed Noble is the developer of Lenox Square and the Rodeway Inn on Lenox Rd. that is now a Sheraton Four Points. The company now runs 50 hotels in 13 states.

Two other bidders have entered and have outbid Noble, according to the attorney for Amelia Island Co. He also said that all three companies are committed to improving and growing the facilities at Amelia Island Plantation. He also said the other companies are "top-flight hotel and hospitality investors."

One of the developers of Amelia Island was Charles Fraser and the Sea Pines Company, who also developed Hilton Head. Fraser and his partners were years ahead of their time. In the 1970s, they painstakingly laid out a plan to protect tidal marshes, conserve ocean front dunes, savannahs and grasslands. With over 1,350 acres and three Audobon certified golf courses, 23 Har Tru tennis courts, a resort spa, restaurants, shopping, a conference center, and accommodations, Amelia Plantation is a very special resort.

This is something to keep an eye on if you live in the Jacksonville area, because Amelia Island Plantation is a landmark community in Northeast Florida. The Amelia Island company said it must have a decision before winter or it will have to close due to lack of funds.