News

Historic Osceola Lake Inn goes on auction block this week

By Bill Moss, Published: October 26, 2026

The historic Osceola Lake Inn property is headed to a public foreclosure auction on the steps of Henderson County Courthouse this week, according a clerk's order filed Sept. 28 in Henderson County Superior Court.

Asheville attorney John K. White Jr., as trustee, will offer the property owned by Green Horizons Property Group LLC for sale to the highest bidder at 1 p.m. Thursday, Oct. 29, at the Grove Street Courthouse.

The foreclosure stems from a deed of trust executed by Fiona McColley in December 2025 to the lender, ALFIE Investors LLC of Asheville. ALFIE says McColley has been in default on the $1.2 million note since May. The property is to be sold “as is, where is,” the notice said. The sale is subject to all prior liens, unpaid taxes, special assessments, easements and other encumbrances of record. The notice of foreclosure sale does not include a minimum bid.

Bidders will be required to make a deposit of 5 percent of the bid amount, or $750, whichever is greater, in cash or certified funds at the time of sale. Personal checks are not accepted. The highest price offered this week would be subject to an upset bid.

Earlier this year, McColley and her business associates won a rezoning of the 3½ -acre Osceola Road property to convert the early 20th-century inn into a mixed-use development with hotel rooms, art studios, a restaurant, wellness center and 14 housing units.

Property records show Green Horizons bought the inn and grounds for $895,000 last Dec. 23; it’s valued on the tax books at $2,567,800.