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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Oak Hills Country Club sells 10 acres to multifamily developer

oak-hills-logoThe historic but ailing Oak Hills Country Club sold about 10 acres next to its clubhouse to a partnership linked to a national multifamily developer in order to raise money for improvements.

The land, close to Louis Pasteur Drive next to the South Texas Medical Center, is zoned for multifamily development with up to 33 units an acre. Oak Hills shareholders approved the land sale in January to fund multimillion-dollar renovations including improvements to the golf course, clubhouse and other facilities.

At the time, club President J. Scott O’Brien sent a letter to shareholders saying the club has been operating at a loss for the last nine years and had $3.5 million in debt. He noted that he considered its operating model unsustainable.

 

Click here to read the full article: Oak Hills Country Club sells 10 acres to multifamily developer MySA 9-29-2016

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