Redevelopment Efforts
In 1991, the Heritage USA property was purchased for $52 million by San Diego evangelist Morris Cerullo in partnership with a Malaysian investment group, MUI Group (Malayan United Industries Berhad). The property was renamed "New Heritage USA". The partnership between Cerullo and MUI ended after a disagreement between Cerullo and MUI over Cerullo's issuance of discount cards to New Heritage USA. MUI filed suit against Cerullo and ultimately bought out his interest in the venture, renaming the property Regent Park. Cerullo retained control of PTL's cable network, which at the time was known as "The Inspirational Network", ultimately moving it to Charlotte, North Carolina and renaming it "The New Inspirational Network". Today, it is known simply as "Inspiration Network" or INSP. MUI is also the parent company of Laura Ashley plc which moved its US headquarters and distribution center to the property. The corporate offices of Laura Ashley are located in the former PTL World Outreach Center, the pyramid-shaped building which formerly housed Jim & Tammy Faye Bakker's offices as well as those of the leaders of PTL. Since MUI purchased the building, it has been renamed "The Regent Building." Through its local subsidiary, Regent Carolina Corporation, MUI built a golf course and residential development on the majority of the former Heritage USA property. For a short period of time in the 1990s, MUI attempted to operate the 501-room hotel and resort under a management agreement with Radisson Hotels, calling the property the "Radisson Grand Resort," but the complex was not successful as a secular venture without its religious emphasis and ultimately closed and fell into disrepair.
In December 2004, the remainder of the Heritage USA property was sold to Coulston Enterprises, owned by local developer and former MUI executive Earl Coulston. Coulston Enterprises sold portions of the property formerly housing the PTL Ministry to MorningStar Ministries of Charlotte, North Carolina, headed by Rick Joyner, and Flames-of-Fire Ministries of Fort Mill, headed by Coulston's wife, Sabrina. MorningStar is in the process of ongoing renovations to the portions of the property purchased by the ministry, while the buildings that had housed Flames-of-Fire have since been sold to The Broadcast Group, a television and multi-media production company headed by Dr. Dale Hill, who formerly worked for Bakker and PTL. Coulston Enterprises has developed several new subdivisions featuring single family homes on the remainder of the property. The Coulston-owned residential portion of the property is called Regal Manor.
In January 2006, a 24-hour prayer ministry also began its endeavor at the former Heritage USA. The Zadok House of Prayer (ZHOP) formed with dozens of musicians and prayer leaders relocating from the International House of Prayer (IHOP) in Kansas City. In April 2009, ZHOP relocated from the grounds, and the building that housed their ministry, a revamped former PTL warehouse complex, has been sold to MorningStar Fellowship Church. It now houses MorningStar's K-12 private school.
In late 2006, the IRS placed a tax lien for $13.2 million on Regent Carolina Corporation, which had not yet transferred control of the golf course, common areas, and roads to the Regent Park homeowners association. The golf course was subsequently sold to a new company, Southern Gailes.
Read more about this topic: Heritage USA
Famous quotes containing the word efforts:
“The attempt to be an ideal parent, that is, to behave correctly toward the child, to raise her correctly, not to give to little or too much, is in essence an attempt to be the ideal child—well behaved and dutiful—of one’s own parents. But as a result of these efforts the needs of the child go unnoticed. I cannot listen to my child with empathy if I am inwardly preoccupied with being a good mother; I cannot be open to what she is telling me.”
—Alice Miller (20th century)