The total purchase price includes the golf course, a 34,000 square-foot clubhouse and eight tennis courts.
Palm Desert, Calif.’s Woodhaven Country Club Homeowners Association could take ownership of the golf course at its heart, after voting in favor of paying $2.5 million for it earlier this month, reports The Desert Sun.
The 110-acre square-shaped course is bordered by 504 condominiums. The purchase got 83 percent approval in an election for which 93 percent of the 486 eligible households voted, said Conrad Tuerk, chairman of the HOA’s acquisition committee.
The total assessment of just over $3 million comes out to $6,000 per home, which can be paid in a lump sum or financed.
The course was built 27 years ago, and original developer Dave Miller held onto ownership until about six years ago, when it was sold to CT Realty Corp. The course was eventually turned over to creditor Textron Financial, which put the course on the market in May.