The company that owned the golf course defaulted on a 2.4 million dollar bank loan in 2015. The bank took over the property. In March 2016 they tried to auction the property. Nobody came close to the $650,000 required starting bid. It attracted offers from apartment builders which is not what the community wanted. In the meanwhile the golf course was slowing showing signs of neglect.
In comes Danville-based Green Golf Partners. They have purchased the course as long as the community can raise $300,000 to bring back the course to playing condition. This was the only way a prospective buyer would be interested. The fund raising is close to its goal. The incentive to the homeowners in the community was losing up to $10,000 market value of their homes without a golf course.
From a Realtors perspective, Saddlebrook was always a desirable community with stable market values, well maintained properties and integrated with a golf course which attracts a lot of buyers. It is wonderful to see the community react the way they did. It shows that they have a good interest/investment in their community and are willing to go the extra mile and do what it takes to be a vibrant and energetic. Makes a Realtor very proud to sell Saddlebrook.
For more information on the history;
Saddlebrook Homeowners Association