The players represent wealth and future development verses the State of North Carolina who's offer of $20,000,000.00 was refused by the Morse Family, who listed the property with  Sotheby's.  The property now is cataloged alongside Manhattan mansions and Hampton estates. The cards seem to be stacked against the State, as the law allows only the appraised price to be commissioned for the purchase. For Developers of vacation and retirement properties the $55 million is bargain basement pricing for  the 1,000-acre Chimney Rock Park, with its signature, 535 million-year-old rock formation and 400-foot Hickory Nut Falls; who's scenic and recreational value is obvious.

"We have some beautiful property in North Carolina that is under private ownership, of such a nature that I think they have become legacy properties and the people would be best benefited by them coming under public ownership," said state Sen. Walter Dalton. "The most pressing concern right now is what does happen up at Chimney Rock."

The Morse Family, who have owned the park since 1902, report that they would like to see the land preserved; but at a price they feel would fairly compensate the true value of this unique property.

The huge number of citizens concerned about Chimney Rock's future will have little play in the final ownership, as the owners contend that a potential huge tax burden has made the $55 million price tag a necessity.
There are hundreds of plant and wildlife species, a 400-foot waterfall, hiking trails, and the Famous Chimney Rock itself, a 315-foot monolith -- overlooking Lake Lure and Hickory Nut Gorge. Much of the park's acreage remains untouched by man, and scientists have said the Hickory Nut Gorge area is one of North Carolina's most biologically diverse.