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April 2, 2007

CW markets Carter's Grove with protective covenants

The Colonial Williamsburg Foundation will proceed to market for sale Carter’s Grove with protective covenants. In December, the Foundation announced plans to sell Carter’s Grove which is a 400-acre historic property on the James River.

The Foundation announced earlier plans to assure the preservation of Carter’s Grove by offering it for sale on a fully protected basis. Under this concept restrictions will be implemented for the long-term protection of the site’s historic, architectural, visual, archeological and environmental resources.

The restrictions will prohibit residential and commercial development of the property. The Foundation will retain rights to use pasturelands in support of its rare breeds program. Importantly, any sale of the Carter’s Grove property will include a right of first offer back to the Foundation, should the purchaser seek to resell the property. Prospective buyers will demonstrate a commitment to preservation, an interest in colonial history, and the capacity to care for the property. The standards for preservation of Carter’s Grove will serve as a model for other preservation organizations and historic sites across the country.

The property has been listed with McLean Faulconer Inc., a leading real estate agent in the marketing and sale of fine estate properties in the Charlottesville and Central Virginia real estate markets. Its primary focus is the sale of luxury estates, equestrian properties, farms, manor homes, country estates, and large land parcels. During the past thirty years, McLean Faulconer Inc. has been involved in the listing and/or sales of numerous Virginia residential, commercial, farm and estate properties.

The firm will market the property starting in April through a series of ads in publications such as the Wall Street Journal, Washington Post, New York Times Magazine, Washingtonian, and Virginia Business among others and on its website at www.mcleanfaulconer.com. The property is listed for sale at $19 million.

The Carter’s Grove site is eight miles southeast of Williamsburg, Virginia. Areas protected under the agreement include: mansion and plantation setting, James River view shed and archaeological sites including the right retained by the Foundation to investigate as-yet unexplored sites. Archeological artifacts related to the Carter’s Grove site, and others in the Colonial Williamsburg collection, will be displayed in significant new exhibition space at an expanded Museums of Colonial Williamsburg.

Established in 1926, the Colonial Williamsburg Foundation is the not-for-profit educational institution that preserves and operates the restored 18th-century revolutionary capital of Virginia as a town-sized living history museum, telling the inspirational stories of our nation’s founding men and women. Within the restored and reconstructed buildings, historic interpreters, attired as colonial men and women from slaves to shopkeepers to soldiers, relate stories of colonial Virginia society and culture — stories of our journey to become Americans. As Colonial Williamsburg interprets life in the time of the American Revolution for its guests, it also invites them to interact with history. Williamsburg is located 150 miles south of Washington, D.C., off Interstate 64. For more information or reservations, call toll-free 1-800-HISTORY or visit Colonial Williamsburg on the Internet at www.ColonialWilliamsburg.com.

Media Contact:
Tom Shrout
(757) 220-7265



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