Although statements were made when the Michigan property was put on the market in September that it would not be broken up, the buyer said it would plan to build 80 lots on the golf course. Meetings are being held with the neighboring community association to discuss concerns and how green space could be preserved.
Schaefer Development of Farmington Hills, Mich. has signed a letter of intent to purchase the Ann Arbor (Mich.) Country Club and is in early planning stages to build 80 lots on the land that is currently home to the club’s golf course, MichiganLive.com reported.
The property was listed for sale in August, just five years after current owner Lew Whaley, who is based in West Virginia, bought it in a lender-forced sale (http://clubandresortbusiness.com/2015/09/01/ann-arbor-mich-cc-on-the-market/). The listing includes the clubhouse, golf course and swimming pool, which sit on 200 acres in Webster Township, Mich. adjacent to the Loch Alpine neighborhood.
When the property was listed, Michael Garzoni of Macomb, Mich.-based Landtec Companies addressed the Loch Alpine Improvement Association (LAIA) to inform them of the listing and reassured them that the entire property would be included in the sale and not broken up into separate pieces. That decision that sat well with many of the residents, MichiganLive.com reported.
But members of the LAIA have now been made aware of the proposed sale to Schafer by its Board of Directors and through communications from the development company, MichiganLive.com reported.
In its letter to residents, the Board confirms that a letter of intent has been signed by Schafer and Whaley. The letter precludes the owner from further marketing the property, but does not disclose any other details, MichiganLive.com reported.
The Board also indicated that it was denied access to a copy of the letter of intent, because it is a proprietary agreement between the two sides.
Preliminary plans for the site call for subdividing the golf course’s six lots into residential lots, where homes would be built by Toll Brothers, MichiganLive.com reported. The plans could be altered as Schafer continues its processes of evaluating the site, the Board noted in its letter.
Schafer chairman Steve Schafer has agreed to meet with the members of the community to present his plan for the site and to address concerns about whether the development can or should happen on the property, MichiganLive.com reported. Three meetings were scheduled, for October 27, October 29 and October 31.
In a letter sent to the 451 members of the LAIA, Schafer explained he is willing to discuss any concerns and the preservation of green space on the property via trails and enhancement of natural features, MichiganLive.com reported.
Schafer went on to say he was hopeful the new plan would coexist with the existing community.
While it is unknown if the property would still be sold as one piece, the plans for the site clearly show it would be broken up for housing developments, MichiganLive.com reported. The 80 lots are expected to be at least 22,000 square feet each.
The golf course and property were forced into sale in 2010 after the previous owner was unable to make mortgage payments and the club’s membership dipped below 120. A $1.7 million loan note held by Citizens Bank was sold to the A2C2 LLC, and records show that the property was officially transferred to A2C2 LLC in 2013, MichiganLive.com reported.
According to Webster Township records, the property and the buildings have an assessed value of $468,000, giving it an estimated fair market value of $936,000, MichiganLive.com reported.
MichiganLive.com reported that its attempts to reach Schafer Development for comment were unsuccessful.