Developer withdraws offer to buy Tryon Country Club land for subdivision
Published 4:33 pm Thursday, July 2, 2009
The letter said considering the uncertainty of the economy and the two-year legal fight, the developer decided to withdraw its purchase offer until the case is settled and TCC has a clear re-zoning decision.
Hiley also says the current appeal case is still at the mercy of the N.C. Court of Appeals and Tryon&squo;s attorney says the case could stretch out until the end of the year.
In order to create homesites on the approximately 52 acres TCC was considering selling, the town had to rezone the property from P-1 open space to residential. Town council approved the rezoning to R-4 in March, 2007 and that June, 26 nearby residents filed a lawsuit against the town and TCC for the rezoning of the property.
TCC was considering selling the acreage to DewSouth Communities for approximately $2 million to build 60 homesites, 10 of which were planned to be duplexes.
The lawsuit was overturned in court, but residents appealed to the N.C. Court of Appeals. As of recently, no court dates had been set.
Hiley says the developers remain interested in the project and the lapse in time will give both parties the opportunity to re-assess the market value of the land and its potential for development.
Hiley also notes in his letter to members that to further complicate matters, the TCC board recently learned of a restriction in a 1945 deed &dquo;that seems to place limitations on the club&squo;s ability to either sell or mortgage 63 acres of land, mostly comprising the original golf course layout.&dquo;
Hiley says to the best of the board&39;s knowledge the restriction has only a minor effect on the 52 acres in question because the property was acquired after 1945. TCC is getting a new survey showing the boundary of the property from the 1945 deed, Hiley says.
&dquo;When the development project proceeds, we will establish all property lines to assure that the proposed development does not conflict with the 1945 deed,&dquo; Hiley says.
TCC is also investigating the old deed to determine whether it diminishes the value of dissolution rights held by regular members as described in the club&squo;s original by-laws.
&dquo;We have a great facility,&dquo; Hiley says. &dquo;The board, staff and our committee chairs are doing everything we can think of to attract new members and to provide an enjoyable social atmosphere at a reasonable price.&dquo;
TCC was created in 1916 and is a Donald Ross designed&bsp; golf course located just outside Tryon on Country Club Road on 126 total acres.