The Germantown Country Club may soon have a new owner.
Germantown Mayor Mike Palazzolo showed with The Commercial Appeal that the country club is “under contract.”He said he had no details.
He first commented on the consultation Wednesday at a consultation and response consultation at the Germantown Rotary Club lunch.
The new contract comes five months after Arizona-based genuine real estate developer Millennium Companies reached an agreement to buy the approximately 180-acre country club between Wolf River and Farmington Boulevards.
The developer had planned it in a subdivision with single-family homes, condos, a nine-hole golf course and a park.Potential buyers withdrew after suffering commitments to neighbors.
FOR THEBONNS: Germantown Country Club: Assets are still lucrative, but are they willing to buy them?
The closure of the country club was announced in January 2019 in a letter of ownership to members, raising monetary problems.It closed in February 2019.La Anderson’s family circle owned the club for years, then transferred to Mary Anderson’s.before his death in 2018.
In April 2019, the city made an offer to turn assets into a park, but city officials said their $2.49 million offer was rejected.In July 2019, Millennium Companies said it had reached an agreement to buy the assets, but last March decided not to buy the club.
Cushman