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July 2, 2008

63 acres added to Jocassee Gorges

Crescent Resources has sold 63 acres of pristine land on Lake Jocassee to the South Carolina Department of Natural Resources.

The land will be managed as part of South Carolina Department of Natural Resources (DNR)’s Jocassee Gorges, a 33,000-acre tract of Wildlife Management Area (WMA) lands around Lake Jocassee that features dozens of waterfalls, 3,000-foot peaks and lush forests inhabited by rare species of plants and animals.

The property, which sits on a peninsula on Lake Jocassee and is entirely surrounded by the Jocassee Gorges WMA, features about a mile of shoreline and excellent views of the lake and mountains. The property will be open for public use and hunting opportunities and will be managed as part of the Jocassee Gorges WMA. Crescent Resources made a contribution to the state to facilitate the transaction of the 63-acre tract to DNR.

"We welcome this important addition to South Carolina’s Jocassee Gorges property," said John Frampton, Director of DNR. "Crescent Resources sold this tract to the citizens of South Carolina rather than develop it. This tract, if developed, would have greatly impacted the beauty and natural habitat of the Lake Jocassee area."

"We are committed to protecting the environment and enhancing the quality of life for residents living in communities where we own land," said Jim Short, president of Crescent Resources’ Land Management Division. "This tract is a natural addition to Jocassee Gorges, and now it will remain undisturbed so the public will can enjoy it for generations."

South Carolina acquired Jocassee Gorges from Crescent Resources in 1998 and 1999. The most important consideration in the Jocassee Gorges management plan for DNR is to maintain the natural character of the area.

Crescent Resources, LLC is a land management and real estate development company with interests in 10 states in the southeastern and southwestern United States. Based in Charlotte, Crescent Resources is a joint venture between Duke Energy and Morgan Stanley Real Estate.

DNR protects and manages South Carolina's natural resources by making wise and balanced decisions for the benefit of the state's natural resources and its people.

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