Investment firms buy Spring City Resort with plans of growth

SPRING CITY, Tenn. (WDEF) — Real estate investment firms have bought the Spring City Resort and Marina for $2.2 million. Along with the acquisition, the firms have planned a four-phased development plan.

Ridges Capital and Yonah Capital, based in Hiawassee, Georgia, announced the join acquisition.

They plan to add another $1.4 million in developing the site over the next five years.

The firms stated that they have started phase one. In this phase, they are renovating the existing cabins, adding domes, yurts and a new dock. They will also install a floating water park and non-motorized water activities.

Later, the firms plan to add and upgrade the marina and other accommodations.

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