Does Kim Basinger Still Own a Town?
Kim Basinger, the Oscar-winning actress famous for her roles in Batman (1989) and 9 1/2 Weeks, made headlines in the mid-'80s for a unique investment: she purchased an entire town in Georgia. The town, called Braselton, was located about 60 miles northeast of Atlanta.
Where Was It?
Braselton is a quaint town in Jackson County, Georgia. The actress bought the town in 1989, envisioning it as a way to create a sustainable and thriving community. Basinger purchased 1,751 acres, which included several buildings, the town’s infrastructure, and a portion of the land.
When Was It Sold?
Despite her dreams for the town, Basinger’s venture faced financial difficulties. By 1993, the actress was forced to sell the town due to mounting debt. She sold the property to a real estate investment group for $20 million, a significant loss from her initial purchase price of $20.1 million.
The sale marked the end of Basinger’s short-lived, yet memorable, ownership of a town. The property has since been redeveloped and is no longer the quaint, small-town environment she envisioned. Today, Braselton continues to thrive and has grown into a bustling community with a mixture of residential and commercial developments.
Related: Kim Basinger's Financial Rollercoaster: From Stardom to Bankruptcy and Back
Conclusion
While her ownership of a town may seem like an extravagant and unique piece of Hollywood trivia, it ultimately proved to be an investment that didn’t pan out. The town was sold years ago, but it remains part of Basinger’s fascinating history in real estate. The massive investment, made with high hopes, ended up being one of the more unusual celebrity real estate stories, and the sale marked a significant blow to her fortune. It serves as a reminder that even high-profile celebrities aren’t immune to business ventures that go awry.
