The development plan by course owner P.J. Simao proposes a 529-unit apartment complex on nine holes of the Watertown, N.Y., course, which neighbors fear will put a dent in property values. Still in preliminary stages, the project will require a zoning change or variance, and additional public hearings.
The Revere Golf Club in Henderson, Nev., and Ives Hill Country Club in Watertown, N.Y., have both been listed as for sale. Ives Hill is being divvied up into three parcels, and neither club has listed its sale price.
Developer P.J. Simao’s suit claims HSBC Bank “fraudulently induced” his company, Prime LLC, Alexandria Bay, into a $1.8 million loan for the Watertown, N.Y., club without revealing that another of his companies was in financial trouble.
Bank cites $490,000 owed by Prime LLC, owner of the 115-year-old Watertown, N.Y. club, which is vowing to fight the action while staying open for “business as usual.”
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