Asheville, Sept. 18—Plans fore the development of a tract of 315 acres of land on Elk mountain, about two miles from Asheville, were announced here today following the purchase of the tract at around $285,000 by Florida and Philadelphia capitalists. Around $500,000 will be expended on the development.
The purchasers are J.B. McGinley of West Palm Beach, Fla., and F.E. Masland and Horace Linton of Philadelphia. Mr. McGinley is a wealthy real estate dealer; Mr. Masland is a rug manufacturer.
A track of 2,000 acres on the Fairview road, about 15 miles from Asheville, was also sold today for $225,000. The property was bought by a Florida capitalist, who plans immediate development.
From the front page of the Concord Daily Tribune, Saturday, Sept. 19, 1925
newspapers.digitalnc.org/lccn/sn92073201/1925-09-19/ed-1/seq-1/
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