A QUARTER OF A MILLION
THE SIZE OF A DEAL CLOSED TODAY.
J.B. Bostic and others sell to E. G. Carrier for a syndicate all the stock and lands of the West Asheville Improvement Company.
The Citizen today is enabled to give out news of one of the largest transactions in realty Asheville has ever known.
It is the transfer of the lands and stock of the West Asheville improvement company.
The transfer is made by J. B. Bostic, J.T. Bostic, T.H. Cobb and W.W. Barnard to a syndicate headed by E.G. Carrier. The amount involved is about $250,000.
Mr. Carrier’s associates are northern men. The land in the deal comprises a tract of 1,200 acres, lying around the Sulphur Springs, and reaching to the French Broad river. The purchasers are to begin work at once on a 500 acre tract adjoining the Tahkecostee(?) farm. The land is to be divided into lots, laid off with beautful drives and streets, with a lake, park and pavilion in the cente of the tract. A system of water works is also to be put in.
This company holds a franchise for an extension of the West Asheville and Sulphur Springs electric railway, from its present terminus at the passenter depot to North Main street, at Penniman & Co’s store, coming by way of Bartlett steet, French Broad and Patton avenues, and West College street. The construction of this extension is to bb begun in a short while, and completed in two or three months. This will of course, be a five-cent line.
These improvements are to be begun at once, and will make things hum in West Asheville and Asheville as well.
— Asheville Daily Citizen, March 3, 1892