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The change in ownership was celebrated on Wednesday as officials gathered for a key presentation ceremony at the gates of the Cumberland Inlet development in St. Marys. The sale of the property closed this week. Shown are (from left) Jacoby Development Inc. representative John Loudon, JDA executive director James Coughlin, master developer Jim Jacoby, JDA board member Burford Clark, bankruptcy trustee Mike Newsom, and JDA members Jeff Lockhart, Tonya Glazebrook, Jim Lomis, Rachel Baldwin and C.B. Yadav.
Developer Jim Jacoby visited St. Marys on Wednesday to accept the keys to the Cumberland Inlet property, formerly known as Gilman Paper Company, and officially open a new chapter for the storied…