Chimney Rock

The Land

A visit to Chimney Rock State Park near Asheville, North Carolina is a visit to some of the best natural beauty the State and the Blue Ridge Mountains have to offer. This 315 foot high monolith of half-billion year old gneiss rock with a panoramic 75 mile view of wooded valley of Hickory Nut Gorge and Lake Lure has attracted tourists since its development as a privately owned park over 100 years ago, and certainly many generations of visitors and native people before that.

Miles of hiking trails wind through a rich and enriching wild landscape centered on Hickory Nut Gorge, World’s End, and 404-foot Hickory Nut Falls. This dramatic scenery formed the backdrop for the film The Last of the Mohicans. This newest addition to North Carolina’s State Park system is not only visually dramatic, it is one of the most significant centers of biodiversity in the state, with 36 rare plant species and 14 rare animal species found within its forests, streams, cliffs and caves. Of the more than 4,000 acres acquired by the state, just over 1,000 acres around Chimney Rock are currently open to the public, with additional access planned over time.

But how does a site of this magnitude work its way into public hands? What is the backstory behind how this treasure was secured as a public asset?

The Role of Unique Places

Of the many conservation partners credited by the State of North Carolina for various essential roles they played in the planning and acquisition process, national conservation groups, regional and local land trusts, local municipalities, hiking groups and friends groups, one of the quietest partners, and the least frequently mentioned is Unique Places. Our role was strategic and proved instrumental in shaping the deal as it came together.

In 2005, the N.C. General Assembly voted to establish a state park in Hickory Nut Gorge and developed a plan for how it would be created and managed. The Carolina Mountain Land Conservancy identified three tracts totaling 259 acres that were designated for inclusion in the park as shown in the state’s plan. These tracts provide a crucial link between the World’s Edge, the core 1,568 section of the proposed park, and its far upper reaches. Because these tracts controlled the only access right of way to the highest and most developable ground at Hickory Nut Gorge, their availability for road access had a significant affect on the actual Chimney Rock Park tract value. All three were critical to water quality in the Rocky Broad River, with several miles of High Quality streams. As of September, 2005, these three tracts were privately owned and on the market, yet neither the State nor the Carolina Mountain Land Conservancy had the funds to acquire them.

Frontline Conservation Real Estate, a strategic partner that offers brokerage services for conservation-minded buyers and sellers, brought in Unique Places as a conservation buyer. Unique Places’ initial strategy was to secure the three tracts by putting them under contract in 2006, then acquire and hold the land until either the Conservancy or the N.C. Division of State Parks secured funds to buy it. This process began in 2006 and we conducted extensive Due Diligence. Unique Places then crafted a formal agreement giving the Carolina Mountain Land Conservancy (CMLC) a fixed amount of time to buy the contracts. CMLC’s plan was to purchase the contracts contingent upon the State agreeing to purchase the land for Chimney Rock State Park.

As Unique Places worked toward closing on the properties, State Parks identified acquisition funds for the land. After collaborating with CMLC, Unique Places changed plans. The contracts were sold to CMLC to protect the land’s natural assets and to cover Unique Places’ costs.

Because these three properties controlled the potential road access that had such a determining effect on the value of the larger Hickory Nut Gorge tract, Unique Places’ strategic acquisition of this land facilitated State Parks’ acquisition of the core tracts which became Chimney Rock State Park by significantly reducing their value and preventing potential commercial or residential development of the site. With a reduced price, the State was able to negotiate a deal which fit its budget. In addition, the three tracts UP secured added another 259 acres to Chimney Rock State Park, creating a wildlife corridor through the park and allowing for public access to the World’s Edge.

Through our role as a conservation investor, Unique Places demonstrated how strategic private acquisitions can provide crucial leverage for complex conservation land deals involving multiple partners and high land values. As thousands of visitors each year enjoy the splendors of Chimney Rock, we take pride in knowing we were a quiet but extremely effective conservation partner.

View more items »