Members of The Point Lake and Golf Club "overwhelmingly" want to sell to Trump, developer says

Members of The Point Lake and Golf Club near Mooresville voted Wednesday to sell the luxury club to the Trump Organization, according to Eric Trump, resurrecting a deal that had been killed because of what the developer had called "a lack of direction at the club."

Trump, son of real-estate mogul Donald Trump, told the Observer Thursday that members during a straw poll had voted "overwhelmingly" in favor of the sale, which he called "good news."

The Trumps had been talking for more than a year with the Point's nine-member advisory board of governors and developer Crescent Communities about purchasing the luxury golf club near Mooresville.

But the Trumps cancelled negotiations amid rising concern among club members.

Crescent developed the exclusive community on Lake Norman in the late 1990s. Members own the golf club but Crescent controlled it until early this year. Crescent was scheduled to transfer control of The Point to members, on Jan. 1, in exchange for $3 million.

The Observer wasn't able to reach board members immediately this morning.

Trump has said he and his father planned to put tens of millions of dollars into The Point to make it "amazing" and the best course in the state. The golf business is a passion of the father-son duo, Trump said.

Some club members, however, feared the deal was happening too quickly. They worried about possible side effects, such as Trump raising fees or changing the intimate feel of the quaint, Nantucket-style community.

In light of the tension, the Trump Organization in December said it no longer wanted to buy the club, citing a lack of direction and indecision from club members and Crescent Communities as the reason.

"There's a lot of confusion at the club. A lack of direction, " Trump told the Observer. "It's a great asset, and with a lot of capital could have been terrific. But we don't want to get bogged down with a deal that has a lot of different parties all moving in different directions at the same time."

Later that month, Trump came back to say he may reconsider, depending on the results of a community straw vote.

The Point could hold a formal vote on a Trump sale by the end of February or beginning of March.

With a reputation for being lavish and high-end, Trump golf clubs often feature bright, open floor plans, ornate decorations and massive chandeliers. Equally upscale are the prices and fees the clubs charge, say people who have visited the property.

The Point's 900-lot golf course community was built by Crescent Resources in the late 1990s and has attracted NASCAR drivers, sports figures, medical professionals and executives from the nearby Lowe's Cos. headquarters. The median house size is 4,500 to 5,000 square feet, and the average lot size is an acre. In 2006, the average home price was more than $1 million.

With gray, Cape Cod-style buildings and streets named Easton and Moor's End, the community offers club facilities, a tavern, a general store, a cobbler, a village green and a meeting house connected by a cobblestone road.

All homeowners must be club members and pay annual dues ranging from $2,100 to $6,600in addition to initiation costs and other fees. More than 60 percent of club members hold an equity stake.

Trump has said he and his father are not looking to buy development rights at The Point. The sale would be a strict golf play, he said.