The dilapidated light tower 35 miles from the mouth of the Cape Fear River could become a home for a dive charter business and fishery research.
Shipwrecks Inc. of South Carolina was the high bidder for Frying Pan Shoals light tower, which includes 5,000 square feet of living space and has its own helipad.
The company bid $515,000, said Lee Spence, one of the owners.
“We will be fixing it up very rapidly,” he said, noting he had not anticipated spending that much money.
Spence said not all of the details have been worked out yet, but the company plans to use the prime fishing spot for a sport fishing group, a dive charter business and probably do fisheries and oceanographic research with two or three universities.