One-time Elvis ranch sold to developer - WMC Action News 5 - Memphis, Tennessee

One-time Elvis ranch sold to developer

HERNANDO, Miss. (AP) - A judge in Hernando, Mississippi, has approved the sale of a ranch where Elvis and Priscilla Presley spent their honeymoon in 1967.

The former Circle-G Ranch will be bought by High Pointe Investments for seven (m) million dollars and is scheduled to close before April 15th.

The court decision ends a plan by developer J.D. Stacy that called for 35-story condominium towers, two championship golf courses, a performing arts center and a posh golf and entertainment resort on the property and adjacent tracts.

Stacy had touted his plan for a high-end resort development for more than two years, but he'd never been able to arrange the financing to purchase the 155-acre ranch or other land.

The ruling yesterday by Chancellor Mitchell Lundy came over the objection of one member of the family that owns the ranch property and allows him and other family members to accept High Pointe's offer.

(Copyright 2005 by The Associated Press. All Rights Reserved.)

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