The development of Laurelmor, located on 6,000 acres of land between Boone and Blowing Rock NC, has been the source of much controversy since the company first announced its intentions to create a property of 1,500 single-family residences catering to high-income earners. The minimum income earned by an individual purchasing a Ginn property is around $125,000 per year, Jim Matoska, executive vice president of Ginn Real Estate, said.

Concerns about the development’s impact on the Boone NC region include the possibility that it will drive up home prices in an increasingly unaffordable area and put strain on the area’s already limited natural resources, such as water. To ease some of those concerns, Ginn Resorts agreed to donate about 45 percent of the Laurelmor property to the Blue Ridge Rural Land Trust. According to a Ginn press release, this was “an unprecedented partnership agreement between a real estate developer and an environmental organization.”

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