Hampton Island Founders LLC is the original group of investors in Hampton Island. The managing member of Hampton Island Founders LLC is Wade Shealy.
Shealy assembled the 4,000 acres of Hampton Island in 2003 and 2004 and was the visionary for the entire development. Shealy envisioned and developed the low-impact sustainable community that was to boast unmatched amenities. Hampton Island’s development is located within the gates of a private club he created while in control of the development from 2003 until 2006. During this time, a conservation easement was placed on the property, and open space was created between each and every home site. Only 162 home sites were planned on the 4,000 acres. Each site was carefully laid out to take into consideration the sun’s movement, wind patterns, and the island’s gorgeous vistas.
In September of 2006, Wade Shealy and Hampton Island Founders LLC decided to offer an investment company owned by Liberty Capital LLC (John Williams, Chuck Wallace, Wayne Mason, Ron Leventhal), 60% ownership in Hampton Island if they would invest $50 million ($30 million by November 15, 2006 and $20 million by March 31, 2007). This additional capital, along with the $75 million already invested by Shealy and his group, would have been enough to finish the amenities of the Island. The contract stipulated that Liberty Capital had to complete Shealy’s vision for Hampton Island and invest $50 million by the specified dates.
As of October 18, 2007, Liberty Capital LLC has yet to invest the agreed-upon $50 million in Hampton Island. Therefore, Hampton Island Founders LLC had to, unfortunately, take legal action. Members of Hampton Island Founders LLC hope this legal action will allow them to bring in a new investment partner, complete the development, and finally realize Shealy’s vision for the island that dates back to 2003.
In the past year since Liberty Capital LLC became involved in running Hampton Island, they have sold only one (1) lot, and that was to a current lot owner.
If you are interested in learning more about Hampton Island and the legal action taken by Hampton Island Founders LLC, feel free to contact Wade Shealy at wade@wadeshealy.com.
We will periodically update this site to keep you informed.
NEW: Wade's letter to investors, owners and members regarding new development on Hampton Island.