Sold for $3 million, the club will be renamed Trump National Golf Club, Charlotte and improvements to the course, courts and clubhouse, are on the horizon.
Members of The Point Lake and Golf Club, Mooresville, N.C., have voted to sell their club to real estate magnate Donald Trump, reports The Charlotte Observer. When the sale closes, The Point will become the celebrity developer’s first project in the Charlotte area.
By buying The Point, the Trumps are betting on Charlotte’s continued affluence, and they say they have huge plans for the lakeside club.
Trump will pay $3 million for the club, which will be renamed Trump National Golf Club, Charlotte. Trump will assume liabilities and has promised to spend millions improving the Greg Norman-designed course, tennis courts and facilities.
Members had been voting by proxy during March and were allowed to cast ballots at a meeting on Thursday, March 29. Roughly 50 people attended the meeting, and the atmosphere was much more subdued than when the Trumps visited The Point earlier this month. That meeting drew hundreds of residents and required security personnel, reports the Observer.
Trump won the vote “overwhelmingly,” his son Eric Trump told the Observer. Eric Trump has been taking the lead on the project.
The vote ends months of debate within the exclusive community that has pitted neighbors against one another.
Proponents of a sale have said the course and buildings needed upgrades and that Trump, with his deep pockets and passion for golf, could elevate the club to become one of the region’s best. Some people expect home values could rise significantly because of the Trump name.
Opponents of the sale, meanwhile, have worried Trump will change their community’s quiet Nantucket feel and raise prices. They also say they worry the sales agreement favors Trump and provides only limited restrictions on changes he can make.
The Trumps started talking about buying The Point two years ago with then-operator Crescent Resources, which built the roughly 900-lot community and the club. All homeowners are required to be club members.