The transaction is anticipated to close by December 31, and the organization plans to change the Crosby, Texas property’s name to Stonebridge at Newport and begin extensive renovations under new management. The property will remain open throughout the upgrades.
Since late August 2015, the Newport Property Owners Association has been working on the acquisition of the Newport Golf Club and Conference Center property in Crosby, Texas, The Woodlands, Texas-based Lake Houston Observer reported.
According to a Board of Director’s Action article posted on the Newport POA website, several months ago it came to light “that the owner of the golf course was planning to sell off the driving range and part of the parking lot to a developer for single-family homes,” the Observer reported.
“A 2011 study performed by Gerald Teeland Associates showed that the property values would decline anywhere from three to 27 percent if the golf course were to close,” the article continued to state.
“The Newport Property Owners Association decided to buy the property to protect property value in the community,” Carol Jones, community manager of Newport POA, said. “We anticipate closing (the transaction) by December 31, but it may be in the first couple weeks of January pending receipt of final survey.”
After the property is purchased from the current property owner, Newport Golf Club Partners, the facility’s name will be changed to “Stonebridge at Newport” and extensive renovations will begin under the new management, the Observer reported.
“Renovations will begin as soon as we close (the transaction,)” Jones said. “The renovations involve upgrading the condition of the course and making some cosmetic changes to the buildings.”
Stonebridge at Newport is set to remain open through renovations, the Observer reported.