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Dead in the water?
Lake Wateree development plans remain stalled
Greenwood Development 2
Nearly 6-year-old plans for the development of a 3,500-acre, resort-style community on Lake Wateree remain stalled. Greenwood Communities and Resorts purchased the land in 2006 with the intent of establishing a low-density community known as Liberty Hill Farms with 15- to 50-acre home sites and a more than 1,000-acre conservation area. Greenwood bought the land from Crescent Resources, a Charlotte-based real estate company, for $28.6 million, or $7,500 per acre, but announced in December 2010 it would be putting the entire 3,500 acres on the market for $17.5 million, or $5,000 per acre.

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