Priscilla Mitts Dietterich and her brother, Byron Mitts, have reached agreement to buy the 137 acres of prime land in Hixson, Tenn. They purchased the site from Chattanooga businessman Henry Luken, who had been shopping the site for $3.4 million. Dietterich says the course “is a little run down. We plan to spruce up the course and the clubhouse and add some amenities.”
Valleybrook Golf Course and clubhouse in Hixson, Tenn. will be getting a makeover under new local ownership, Chattanoogan.com reported.
Priscilla Mitts Dietterich, whose father Russell Mitts long owned the Rivermont Golf Course, said she and her brother, Byron Mitts, have reached agreement to buy the 137 acres of prime land in Hixson, Chattanoogan.com reported. Chattanooga businessman Henry Luken, who bought it at an auction 10 years ago for $950,000 (plus six percent sale commission), had been shopping it for $3.4 million. He earlier said a Florida group was eyeing it along with some groups in Chattanooga.
Dietterich said the deal was reached, though the closing has not yet been held, Chattanoogan.com reported. She said she has had some contact with the Valleybrook Homeowners Association “and they are thrilled that it will remain a golf course.”
Dietterich said the course “is a little run down. We plan to spruce up the course and the clubhouse and add some amenities,” Chattanoogan.com reported. She said she will be the owner, but the upgrade will be carried out by the local development firm Urban Story Ventures. She said she has had similar agreements with Urban Story previously as she has invested in commercial projects.
Luken, in an interview last year, said the “highest and best use of the property is not for a golf course,” Chattanoogan.com reported. He said that’s the same across the country, except for the rare exceptions like Augusta National. He noted that the homeowners group at Valleybrook probably would be the most interested in keeping their golf course amenity.
Luken last year said the Valleybrook course “is making money and it could make even more,” Chattanoogan.com reported. On the other hand, Luken noted that there is a real scarcity of available homes locally, leading to greatly escalating home prices in recent times. And he said the group that could work out an acceptable deal with him would be free to do as it pleases with the property as long as it can get all the needed approvals.
Luken put all his local golf courses up for sale in late 2021.
Dietterich noted that she grew up around a golf course, Chattanoogan.com reported. “When I was born we were living upstairs in the Rivermont clubhouse. You just stepped on the golf course from our home.”
Russell Mitts was a police officer who was invited by some fellow officers to play a round of golf. Before a year was out, he was playing well enough to go pro, Dietterich said.
He later got the opportunity to buy the Rivermont course.
Tell Us What You Think!
You must be logged in to post a comment.