In 1976, an archaeological project discovered the site of Wolstenholme Towne, a small settlement downstream a few miles from Jamestown which had been developed in the first 15 years of the Colony of Virginia.
Later that year, Hurricane Isabel seriously damaged Carter's Grove Country Road, which had linked the estate directly to the Historic Area, a distance of 8 miles (13 km), bypassing commercial and public roadways.
CW then shifted some of the interpretive programs to locations closer to the main Williamsburg Historic Area and announced in late 2006 that it would be offered for sale under specific restrictive conditions, including a conservation easement.
The Colonial Williamsburg Foundation submitted the only bid at the auction held on May 21, 2014, for the outstanding mortgage amount, and announced that it planned to resell it, with a price increased because of significant costs related to the sale, including over $600,000 (~$760,701 in 2023) in necessary repairs.
Edwin Gilliam Booth (1810-1886) bought the Carter's Grove property in 1879, two years before Americans celebrated the hundredth anniversary of George Washington's victory at Yorktown nearby.
A "New South" advocate and tireless supporter of railroads and new industry, Booth painted the interior red, white and blue and planted a grove of locust trees on the approach from the land.
Dr. Edwin G. Booth Jr. (1839-1922) survived the war in part because the Confederate ship on which he was a naval surgeon was captured in the Battle of Mobile Bay.
He rehabilitated the property with the assistance of New York architect William W. Tyree, removing one of the Booth era porches, adding window screens, indoor toilets, central heat and a modern kitchen in a flanking dependency joined to the mansion by an enclosed gallery.
He and his wife, Mary "Mollie" Corling (Johnston) Dunlop McCrea, originally of Petersburg, restored the mansion, and substantially modernized and expanded it under the guidance of Richmond architect Duncan Lee who designed several of the stately homes along Monument Avenue.
In the 1970s, archaeological discoveries uncovered the remains of the circa 1620 Wolstenholme Towne fortified settlement on the property (which was substantially wiped out by the Indian massacre of 1622, and soon thereafter abandoned).
The storm destroyed many trees along the paved road, which is located almost entirely on private property, and required much of it to be semi-permanently closed, pending funding for costly repairs.
This was to include restrictions to ensure protection of the James River view shed, wetlands and forest, exterior and interior architecture, and archaeological sites on the property as well as prohibit residential and commercial development.
[15] On December 19, 2007, it was publicly announced that Carter's Grove, its Georgian style mansion and 476 acres (1.93 km2) had been acquired for $15.3 million by CNET founder Halsey Minor, a Virginia native and entrepreneur.
Per the press release from the Colonial Williamsburg Foundation the new owner "plans to use the mansion as a private residence and use the site as a center for a thoroughbred horse-breeding program.
Carter's Grove LLC went into bankruptcy and a federal judge appointed Stan Samorajczyk as trustee to make repairs and sell the property.
This has sparked significant opposition from historic preservationists who are concerned that these towers will mar the view from Carters Grove, and the nearby Colonial Parkway.