NASCAR Stars Back Off Resort Project

Three of the NASCAR celebrities who endorsed the Sheridan Ridge resort development have returned their lots, and the other two have drastically reduced the price paid, county records show. Quit-claim deeds recorded Dec. 30 indicate that drivers Denny Hamlin and Tony Stewart and crew chief Greg Zipadelli gave their lots back to Sheridan Ridge Private Reserve LLC, the North Carolina company formed in 2006 to develop a NASCAR-themed community in the Southwest Virginia region. Deeds of correction were entered the same date for their property as well as lots owned by driver Elliott Sadler and FOX Sports personality and former crew chief Jeff Hammond, reducing the price of each lot from $323,205 to $50,000 – just enough to cover the lot release fee. "Certain infrastructure improvements to the Property were never completed," according to the deeds of correction, "and the value of the Property on the recording date was actually $50,000." In what has been a controversial project from the start, Sheridan Ridge selected a 1,400-acre site on the steep slopes of Walker and Little Brushy mountains to build a multi-million-dollar residential development with more than 500 houses and a 53-acre "village center" featuring shops and amenities. Bristol Herald Courier