Sixty percent of the San Antonio, Texas club’s shareholders approved the sale of 13 of the club’s 200 acres to a developer. The sale is intended to fund renovations and maintenance needed at the club that would include a new practice facility, locker rooms, dining areas, and the demolition of an aging sports building.
Shareholders of Oak Hills Country Club in San Antonio, Texas have voted to approve the sale of 13 of the private golf course’s 200 acres, the San Antonio Business Journal reported.
The sale price was not disclosed. The sale is intended to fund multimillion-dollar renovations and maintenance needed at the aging country club. It was established in 1922, the Business Journal reported.
According to news reports in December, the 13 acres is earmarked for multifamily development. The land includes tennis courts, a parking area and driving range, the Business Journal reported.
Condos or other luxury multifamily units that could be constructed on the property are expected to bring in some $9.4 million—$4.7 million of which would go toward renovating the golf course and clubhouse. A new practice facility also is called for at a cost of $1.2 million. New locker rooms and dining areas also are part of the plan, as well as the demolition of an older sports building, the Business Journal reported.
Sixty percent of the shareholders voted in favor of the sale, the Business Journal reported.