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The Half Moon Bay-based garden supplier originally planned to sell the 7.8-acre property to brothers Cameron and Kevin Palmer, but their campground project never advanced beyond architecture plans and paperwork.
Cameron Palmer said their business concept didn’t draw sufficient bank loans to finance the land purchase and its development.
“Once I found out there were no lenders interested in making a loan for vacant land, that’s when I saw the writing on the wall,” he said. “I just found no interest.”
The nature-themed campground idea received lavish praise from business and elected officials when it was presented in public meetings. Popular momentum encouraged the city to re-zone the unused Nurserymen’s Exchange farmland for commercial use.
Palmer said he notified Nurserymen’s Exchange in late spring that he could not afford the land. Palmer said he has no plans to attend the auction to buy the property, which has a suggested opening bid of $899,000.
The property will be auctioned off on Sept. 15, according to published reports
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