Buying a piece of history
When Rockbridge County Administrator Spencer Suter learned last summer that Natural Bridge would go up for auction, he feared the Virginia landmark could fall into the wrong hands. Suter said the bridge found an unlikely buyer in Kissito Healthcare CEO Tom Clarke, who helped structure one of the most complex — and potentially most important — real estate transactions Suter has ever seen.
A big investment in change
Natural Bridge saw its staff shrink from more than 100 to just 15 after its sale to the Virginia Conservation Legacy Fund in February. Since then, more than 300 new jobs have been created, the owners are forging new relationships with local businesses, and Natural Bridge is preparing to become a state park.
A facelift and a new vision
Natural Bridge has been undergoing renovation since winter just to see its hotel re-opened. Plans for the next six months include modernizing dated hotel rooms. They also extend to replacing the wax museum and upgrading the gift shop. The new owners say the $2.8 million being spent is just phase one of a much larger plan.