Ghost Town in the Sky could be foreclosed on in June.

It looks like Ghost Town in the Sky could be up for foreclosure in June. According to the article below, if additional funding is not found before then, foreclosure could take place.  I would imagine this is a bad economy to be looking for funding in. This all boils down to a nearly $10 million dollar loan BB&T has with the park.  They are giving the owners of Ghost Town until June to work something out, or be foreclosed on.

The sad thing is, Ghost Town is one of the bigger tourist draws in Maggie Valley.  About 200 people work at Ghost Town in the Sky, so this will surely be bad news for those folks. 

I hope, for the sake of Maggie Valley, that something can be worked out.  If I get more information on this, I’ll post it.

http://www.smokymountainnews.com/issues/03_10/03_10_10/fr_gt_foreclosure.html

Raymond 

***This post brought to you by www.SmokyMountainTower.com. When you’re in the Smokies, you want to stay here.  This is a great place, in a perfect location with only the best views.  Trust me.  Or just click on the site to see for yourself:)***

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3 responses to “Ghost Town in the Sky could be foreclosed on in June.

  1. Unfortunately, even if Ghost Town in the Sky goes away, Maggie Valley will remain a “ghost town.” On the other hand, Cherokee is growing. Go figure! Good for Cherokee for being progressive.

  2. I don’t spend enough time in Maggie Valley to know how they are doing business-wise. I HAVE noticed that it appears Cherokee is making some changes to improve the way it looks. One of the biggest problems I’ve seen in Cherokee has been some areas of blight. Old, abandoned buildings, or tacky signs. When we went through a couple of weeks ago, I don’t think there were quite some many of those. If Maggie Valley is having a tough time in general, I hope they can turn it around. I know when we were up there for the ski trip this winter, they were the only area that seemed to be “happening,” but that was probably because it was so cold the only reason anyone would be in the area would be for skiing.

    Raymond

  3. I am saddened to see “Ghosttgown” go under. When our kids were younger we took them there, and really enjoyed ourselvs.
    At the same time I’m glad that the Cherokee community is thriving. My wife and I would never consider going to the mountains, without a day shopping and enjoying ourselvs in Cherokee.

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