The real estate mogul has offered to buy the exclusive Greg Norman-designed golf course and club for roughly $3 million. Trump would also assume the club's liabilities and has promised to invest millions in upgrades, including new tennis courts and improved club facilities.
Residents have been submitting proxies this month and will be allowed to vote at a meeting Thursday night. Results are expected to be announced the same evening.
The prospect of a sale to Trump has divided the luxury community on Lake Norman. All homeowners in the roughly 900-lot community must belong to the club.
Some residents, particularly those with golf memberships at the club, say they welcome the celebrity developer with deep pockets and a passion for golf. Others say they are worried Trump will change the quiet character of their Nantucket-themed community and raise prices.
Some residents also say they remain concerned with how the deal was negotiated, saying the club's board was not been transparent enough. For example, they say the board didn't fully explore other ownership alternatives, such as having members buy the club. They also complain that proposals from other investors wanting to buy the club weren't shared with residents.
The conflict has become heated among neighbors, people say. Some residents who oppose the sale say they have received mean-spirited phone calls from people yelling at them. Supporters of a sale, meanwhile, have criticized members for speaking publicly about the issue. A pro-sale website told residents to stop talking to the media saying they were embarrassing themselves and the club.
The Trump Organization has been talking with The Point for about two years. Negotiations started with Crescent Resources, the community's developer. While residents owned the club, Crescent operated it until the end of last year, when it transferred control to the club to members.
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6 comments:
I've been to several of Trump's clubs, and the members are making a big mistake if they vote it down- his clubs are stunning!
3 million is not very much at all for that course. If the asking price is that low that low it would be irrational to say no to Trump.
If you pompous idiots in the Point let Trump take the golf course and club house for 3 million... you are a bunch of fools. Why don't a few of you big shot money bags get together offer 3.5 million and buy the club yourselves. Then you can invest a few hundred thousand to upgrade the club house and facilities and reap the benefits when the real estate market rejuvenates again. Trump doesn't do anything without knowing he (in the long run) is going to make lot of money on the deal. Expect much higher dues, not much more as far as amenities and a lot of cash in his pocket... Good luck!
Sounds like this would be great for real estate values within the community. As an avid golfer and tennis player i have heard nothing but the best things about Trump clubs.
Would be great for real estate values.
Anyone wanting to be a slave to DT is a fool. All you Guys w/the big bucks on the Lake can't come up with da chump change?
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