California ‘Ghost Town’ Sold for $1.4-M, Buyers plan to Bring it Back to Life

California ‘Ghost Town’ Sold for $1.4-M, Buyers plan to Bring it Back to Life

California ‘Ghost Town’ Sold for $1.4-M, Buyers plan to Bring it Back to Life

The abandoned mining town of Cerro Gordo that was put on the market in June was purchased on Friday for $1.4-M. The property was originally listed at $925,000.

Located outside of Lone Pine, California, the 314-acre piece of land is about 4 hours from Los Angeles and Las Vegas. The town was founded in Y 1865 where silver mining began and has 22 remaining structures, according to cerrogordomines.com.

Entrepreneurs Brent Underwood and Jon Bier purchased the ghost town with exciting plans in mind, but also for the history behind it.

“We deeply respect the history of the property and after meeting with the current caretaker and owners and discovering a mutual love of the history, it all felt right,” Mr. Underwood said.

Underwood owns a hostel in Austin, TX called HK Austin and is a partner at the creative advisory Brass Check, and Mr. Bier runs Jack Taylor PR, a boutique public relations firm based in Los Angeles and New York City.

Messrs Bier and Underwood have plans to move to the property beginning in August. Mr. Underwood said he thinks running a business from a ghost town was too much fun to pass up.

“The area is stunning and there are endless trails and corners to explore. I’m very much looking forward to the first few months out there,” Mr. Underwood said.

He also said that they had been exploring different hospitality locations in New York and California and they wanted to purchase something with a story behind it. They were looking for a place to be able to create a destination where they could play out their different dreams and after discussing Cerro Gordo with the current owners there was no turning back.

They have plans to revamp the area, while still respecting the historical value. Mr. Underwood said they have brought in a good team of young, creative entrepreneurs as their partners to help them make their ideas a reality.

“The 1st part will be introducing overnight accommodation options and working with some of our partners,” he said. “More long term, we’ll bring in high level programming in forms of writing retreats, music events, dining experiences, photo shoots, theater, special events and more.”

Messrs Bier and Underwood plan to keep the property open to the public while also introducing new amenities to allow more people to enjoy the area.

“We will reopen the saloon and restaurant, but our main focus will be activities that allow people to enjoy the natural beauty of Cerro Gordo’s surroundings,” Mr. Underwood said. “We already have world class hiking on our property, and will likely have meditation, yoga, archery, roasting marshmallows, late night movies in our converted church/screening room, etc.”

They are  looking forward to being able to create a new destination, especially one that is on such a large canvas.

“Really though, we’re building something we wish existed. Activities, programming and accommodation we’re personally excited to experience,” Mr. Underwood said.

By Kayla Fitzgerald

Paul Ebeling, Editor

 

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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