The University of Georgia has sold the largest undeveloped parcel on Lake Blackshear to an undisclosed buyer for $18.5 million. The money will go to benefit UGA’s Warnell School of Forestry and Natural Resources. The university received the 2,500-acre property in 1989 as a donation from businessman Charles Wheatley. It’s been used since then for timber and hunting, yielding $8.2 million from timber sales and other investment earnings. The school plans to create three separate funds from the land sale. One fund will be dedicated to modernizing the campus facilities in Athens. The other two will be established as endowments to allow the school to benefit in perpetuity.
UGA sells lakeside property, raises almost $20M
