Buyer wants to resurrect Braewood plan

From the Hendersonville Lightning:

A Fletcher developer who bought the 88-acre Braewood property in a foreclosure sale this month said he would like to resurrect a site plan that called for a 121-home residential development on West Blue Ridge Road next to the Mill House Lodge.

Matt King bought the bank-owned property for $1.078 million in a foreclosure auction on Dec. 10.

"It is under contract and I expect it to close by the end of the year," said Frank Smith of the auction company Stephen Jax & Associates. "It was a good auction. Almost every (registered) bidder placed a bid. It's a very appealing piece of property for a lot of different reasons."

The property was owned by TD Bank, the successor to Carolina First Bank, which in February 2008 had loaned $2.5 million for the development proposed by Hilton Swing and his father, Ken Swing.

King also bought the Fox Glen property in Fletcher in a foreclosure sale and developed the subdivision. He has spoken several times with Flat Rock Village Administrator Judy Boleman about the process for reactivating a special use permit the village issued in 2007. . .

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