The firm insists development of the spit won’t unduly harm the environment and that the Sea Island brand remains sacrosanct. Sea Island owner SIA, a limited partnership of four global investment firms based in New York, Los Angeles and beyond, bought Sea Island out of bankruptcy in 2010. She called the spit development plan “kind of the last straw.”ĭisagreements among the Sea Island swells - most visitors still hail from Atlanta - usually play out privately behind the cloistered walls of the gated community.īut the spat over the spit has engendered electronic billboards, a website, T-shirts (“Save the Spit”), dueling newspaper ads and caustic references to the “hedge fund managers from up north.” “They say it takes a while to lose your reputation, but with the development on the spit, Sea Island’s reputation is going fast,” said Fulcher, whose father and uncle started the Genuine Parts Company, a Fortune 500 stalwart in Cobb County. Sea Island Acquisition (SIA) expects to soon market the eight lots, currently covered by sand dunes and windswept pine, on the pristine stretch of beach that residents hoped would remain unscathed into perpetuity.Ĭalled The Cloister Reserve, the proposed development is the latest point of contention for an island that now trends toward New York nouveau riche over old Atlanta money.
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