The 96-year-old club will close its 90-acre course on May 7 and remain open to host events, parties and meetings. Memberships with golf privileges will be converted to social-only. “Basically, we couldn’t justify the cost with the use of the course,” a club manager said. The club has struggled in the past 10 years to recover from a drop in membership and debt incurred as a result of the recession. A city manager thinks the course offers opportunity for sale and mixed-use development.

The 233-acre Sarasota, Fla. property, located near Interstate 75, has changed hands several times since 2010. The purchase includes a 10,000-sq. ft. clubhouse.