A longtime local country club has been shuttered after a foreclosure sent the property back to its lender and opened the door for potential redevelopment of the site.
Jordan Point Golf Club, which sits along the bank of the James River just east of Hopewell in Prince George County, was foreclosed on last month by EVB and subsequently closed for business.
Ownership of the 140-acre property at 1100 Jordan Point Road was transferred to the bank on May 21, according to county records.
The club had been owned by a group of members through Jordan Point Country Club Inc., which defaulted on a $1.2 million loan issued by EVB on the property in 2007.
“We took it back in foreclosure reluctantly,” EVB Chief Executive Joe Shearin said. “We worked with them as long as we could. It’s a sad story.”
Shearin said the bank decided to shut the course down because it hadn’t been profitable under its member-owners in some time.
“We’re not in the business of running golf courses,” he said.
Shearin said the club’s membership had been dwindling, and years ago it moved away from a private structure in an effort to drive more golfers.
As to the future of the property, Shearin said the bank has already been fielding inquiries.
“We’re maintaining (the property) at this point because we have interest from several different people,” he said, though he didn’t discuss specifics. “All of them have different ideas … At this point we’re in discussions of what’s the highest and best use and who can give us the best contract.”
The acreage that encompasses Jordan Point Golf Club is split into several parcels that have a combined assessment of approximately $1.9 million.
Potential future uses could include new development or continued use as a golf course.
“It’s a beautiful property,” Shearin said. “It’s 100-plus acres on the James.”
Douglas Miles, planning manager for Prince George County, said the Jordan Point property is zoned agricultural for golf use and would need to be rezoned for any future development.
He said the land is in the county’s planning area, where development is favored, as is evidenced by other nearby projects.
Across from the country club, the 79-lot Eagle Preserve development from Ryan Homes recently got underway.
For potential residential development in place of the golf course, Miles said the county would expect to see similar density to the Eagle Preserve project, which has lots of between 0.5 acres and 1 acre.
It also has potential for other types of development.
“Some of it does have James River frontage, so there’s been some interest in someone doing a larger mixed-use development,” Miles said. “Nothing has been officially filed, but people have been asking, ‘What can I do with the property?’”
Had they taken care of the course at all this would have never happened. Owners got lazy plain and simple. Grounds maintenance was horrendous at best…on a level with Rivers Bend.