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Kim Basinger Bought a Town in Georgia

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Posted: April 20, 2014 at 2:36 am   /   by   /   comments (0)

Most Outrageous Celebrity Purchases

Hollywood Celebrities have long been known for their extravagant homes and condos but owning a whole town seems, even by the standards of the Hollywood Hills crowd, a bit OTT. Perhaps not for Kim Basinger who bought the town of Braselton in Georgia for $20m in 1988. So what prompted Ms Basinger to make one of the more outrageous celebrity purchases on record?

The actress reputedly became interested in the town while she was stuck in a traffic jam and a sign that read: “Braselton: If You Lived Here, You’d Be Home by Now” apparently sealed the deal. Ms Basinger bought the small town for $20 million, with the idea of turning it into a tourist attraction that featured a movie studio and film festival. Unfortunately it was a colossal failure for the would-be property developer. In 1993, five years after she and her partners purchased the town, it was sold for $1 million. Ms Basinger later declared bankruptcy.

With a population of 7,875 recorded in 2012, Braselton is now owned by a developer and boasts itself as home of the Chateau √Član Winery as well as being the headquarters of the American Junior Golf Association, the Panoz Motor Sports Group, and the Road Atlanta race track. It has perhaps proved itself more than just another of those outrageous celebrity purchases, also housing major distribution warehouses for Sears Appliance Division, Home Depot Distribution Centre, Haverty’s Furniture and Tractor Supp.

Kim Basinger Owns a Town in Georgia
Kim Basinger famously bought the city of Braselton, Georgia in 1988 after simply driving through. The idea of owning a town seems out of reach to many, but Kim was able to spend the $20 million required to buy this town, making this another outrageous celebrity purchase.