On Tuesday, those fears were laid to rest as the company agreed to sell the tract for $47 million to The Conservation Fund on behalf of the state Department of Natural Resources.

The state immediately will acquire 7,315 acres using $32.4 million in federal grants secured by U.S. Sen. Fritz Hollings from the National Oceanic and Atmospheric Administration, said DNR Director John Frampton.

The Conservation Fund, a national environmental nonprofit organization that forges public and private partnerships to protect land, will hold title to the remaining acreage until DNR secures the rest of the money, which is hoped to come from federal sources, Frampton said.

"We expect completion of the final phase of the project by late 2004 or early 2005," he said.

DNR has acquired the eastern and western parts of the property while The Conservation Fund will keep the central portion, DNR spokesman Mike Willis said.

The land will be open to the public within six months after DNR develops a public use and wildlife management plan for the mostly wooded acreage at the confluence of the Cooper River and its eastern branch, Willis said.

"All of it will eventually be open to the public for wildlife-related uses such as hunting, fishing, hiking and picnicking," he said.

The agency has not decided what to do with a modern house and several outbuildings that MeadWestvaco used as a conference center, he said.

Frampton cited The Conservation Fund's involvement as the driving force behind protecting the historical and environmental property between Mepkin Abbey and S.C. Highway 402 in rural Berkeley County. It is considered the heart of the Cooper River Historic District.

"Without their involvement, this and other monumental conservation and land protection projects in our state would not have been possible," he said.

The site, which comprises one-third of the 30,000-acre Cooper River Historic District, includes ruins of an old rice mill at Comingtee Plantation, walls of a 1738 masonry house, 18th-century stone mile markers along what was once the old river road to Charleston and remnants of rice fields. It is also home to federal-ly protected eagles and red-cockaded woodpeckers.

Gov. Mark Sanford, who worked closely with conservation groups and MeadWestvaco to save the acreage from being sold to private developers, praised the land's preservation.

"This administration has said from Day 1 that preserving open spaces is critical to quality of life in South Carolina and maintaining the competitive advantage we have over other states," Sanford said in a prepared statement. "I got involved in this particular process because it represented a real opportunity for our state to do something to safeguard its unique natural beauty."

The commitment from state, federal and private interests was "extraordinary" in securing the deal, Conservation Fund President Larry Selzer said.

"The citizens of South Carolina will forever enjoy the natural, cultural and historic wonders of Bonneau Ferry," he said.

Hollings, who has worked for nearly two years to save the parcel since MeadWestvaco put the land on the auction block, called it a great day for South Carolina.

"The conservation of this property is essential to protecting the water quality of the Cooper River and its surrounding environment," he said. "South Carolina is an environmental Mecca and these federal-state partnerships go a long way to ensuring that our forests, rivers and wildlife will be conserved and enjoyed for future generations."

Stamford, Conn.-based MeadWestvaco, which decided to sell the property in 2002 when The Mead Corp. and Westvaco Corp. merged, said it was glad to see the deal done.

"MeadWestvaco has been a good steward of the property for more than a half century, and we are confident that this partnership will continue our legacy," said MeadWestvaco Chairman and CEO John Luke.

The Coastal Conservation League, which has closely monitored the land's sale, called the deal "fabulous."

"This is just great news for conservation and ecosystem protection," said Jane Lareau of the Coastal Conservation League.

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