Bartram’s Walk has gone into foreclosure. It was to be a development of upscale homes north of Asheville.
Bartram’s Walk joins several other expensive developments begun around the height of the real estate boom last decade that have encountered financial problems because of poor sales. Sales that did occur were generally for more than $400,000.
The era was marked by an Asheville City Council that liked to redesign subdivisions and require things like meandering sidewalks and extra trees. Developers complained they were already having difficulty meeting their price points.
As it turned out, the bank that financed Bartram’s walk was put under by the regulators because they had made too many loans that weren’t being repaid.
Neighbors were concerned about deforestation and siltation. In a few cases at least, the developers got far enough to cut down trees, but never got around to replanting.
