The Cape Charles Town Council approved the sale of town properties to South Port Investors, promoting the intensified stranglehold developers are exercising around the harbor, and the town itself.
On April 14, 2011, the Town Council approved Ordinance 20110414, which amended the Lease Agreement between the Town and South Port Investors, L.L.C., which included acquisition rights for town Parcels 12, 17, 19 and 20.
On January 12, 2018, South Port Investors, L.L.C., notified the Town of its intent to exercise the right to acquire Parcels 12 and 17, while including an appraisal by a licensed appraiser in the Commonwealth of Virginia.
That appraisal lists the following market values:
Lot 12
$326,000
Lot 17
$255,000
With this purchase, entities associated with the Baldwin family have created a firm foothold in and around the harbor.
A review of the town’s approach to harbor management is a major part of Council’s forward agenda–using a marina management company is being considered. What role the Baldwin’s will play in future of the
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And that’s monopoly for the win, but maybe the third time is the charm. Let’s see Brown & Root was first,Dickie Foster was second and now the Baldwins for the win. Good luck Cape Chuck, may you truly get what you wished for, an entirely gated community.