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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. The sale could close next month.
He won the vote “overwhelmingly,” Donald’s son Eric told the Observer Thursday night. Eric Trump has been taking the lead on the project.
“My father and I are overwhelmed by our incredible victory and the immense support of so many wonderful members,” Eric Trump said. “There is no doubt that when completed, Trump National Golf Club, Charlotte will be the best club in North Carolina and beyond.”
The vote ends months of debate within the exclusive community that has pitted neighbors against one another. And some residents raised concerns that they would be priced out of the Lake Norman, NC Real Estate for Sale neighborhood.
Members had been voting by proxy during March and were allowed to cast ballots at a meeting Thursday evening. 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.
Thursday evening, a golf cart sat parked in front of the meeting hall, decorated with sparkly letter Ts and black and gold balloons, including one shaped like a champagne bottle.
“We’re a nice neighborhood with nice people and we’re all going to go back to our nice lives,” said resident Victoria Gulickson, speaking about the tension that the sale has created. Gulickson, who supports the sale to Trump, helped decorate the golf cart to add some light-heartedness to the evening.
“It’s definitely going to be a celebratory night,” she said.
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.
Club president Richard Grove was not available for comment Thursday night.
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.
“People have to make a decision in 24 months. It all could be changed,” said resident Jim Carter, speaking about how Trump might raise prices in two years. Carter has said he didn’t feel the sales agreement provided enough protections for club members. He wanted the club’s board to more seriously explore other ownership alternatives.
Trump has said he’s bullish on the Charlotte, NC Real Estate for Sale area, despite the weak economy. Before the recession, he toyed with the idea of buying land in uptown for a mixed-use high-rise. He decided to kill the plan in part because the city’s dependence on banking would make that project more vulnerable in a downturn, he has told the Observer.
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. While they own the club, Crescent operated it until it transferred ownership to residents at the end of last year.
With a growing portfolio of golf clubs, the Trump Organization is known for its high-end, ornate clubhouses and courses that feature world-class food and amenities. They are also among the most expensive.
The Point Homes for Sale in Mooresville, NC(click here to view all current Listings) sell for $1 million-plus and average 4,500 square feet to 5,000 square feet. The community, with its gray Cape Cod-style buildings, has attracted high-powered homeowners, including retirees, executives, attorneys, doctors and sports stars.
Resident Robin Galloway said the sale will benefit the greater area.
“I think it will be great for Mooresville,” she said. “It will draw people to the area. It’s not just about this neighborhood.”
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.