Ford’s Colony residents are relieved that financial difficulties surrounding the country club are over now that it has a new owner.
Ford’s Colony Country Club filed for bankruptcy in 2010 and Prudential took ownership of the club and its three, 18-hole golf courses. In August 2012, Prudential indicated they had a buyer for the property. A letter sent to country club members on Nov. 30 announced Accord Golf Capital and Och-Ziff Real Estate had purchased the club and retained Traditional Golf Management to oversee operations.
Residents have been concerned about what the club’s bankruptcy meant for them as residents and property owners. Jim Icenhour, who lives in Ford’s Colony and represents the Jamestown District on the county’s Board of Supervisors, said the club’s bankruptcy had an adverse effect on everyone living in Ford’s Colony, not just residents who are also club members. The head of the Ford’s Colony Home Owner’s Association agreed the uncertainty about the club’s future affected all residents; both men feel having new owners will be a good thing for all involved.
Icenhour thinks property values could be affected because “this is a golf community; people who came here came here for that.”
He said residents are concerned about whether the country club will continue to function as it has or if more emphasis will be put on the golf course.
The Ford’s Colony Homeowner’s Association acted under the belief that the country club and golf courses are an essential and integral part of the community, according to Icenhour.
The HOA made itself available to Prudential and the new buyers throughout the process but could only help when help was wanted, said Norm Beal, HOA president. He is looking forward to meeting the new owners and seeing what they will do with the club.
Beal said Ford’s Colony has approximately 2,500 lots with 800 residents who are members of the country club and 400 whose lots back up to the golf course. He said residents were “affected at an intellectual and emotional level” by the upheaval at the club over the years and they were uncomfortable and concerned about the fate of the club.
Residents are concerned that the new ownership might mean some of the club’s functions beyond golf will cease. Beal said the country club is a gathering place for residents, some of whom may never venture onto the golf courses. This year marked the 25th anniversary of Ford’s Colony, which was celebrated with a dinner-dance party organized by country club staff for all interested residents at the club
He hopes to see the club succeed under new ownership. The new owners and management team primarily run just golf courses, “but that doesn’t mean [the country club] won’t be a prime jewel,” said Beal.
Paul Mauk, president of Traditional Golf Management and member of Accord Golf Capital declined comment by phone and e-mail on Tuesday, but in a letter to club members this week the new owners said they were going to make improvements and get input from club members through an electronic survey at the end of this week. Meetings with homeowners are also scheduled for Dec. 19 and 20.
