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Woodcrest Country Club Sold to Developer

Four bidders were vying for the course in Monday's auction.

Woodcrest Country Club was sold to a developer at Monday morning’s auction in Philadelphia.

Marlton-based Cherry Hill Land Associates, the so-called stalking horse bidder that set the floor of $6.25 million, went well over that mark, outbidding three others—the Union League of Philadelphia, Camden County and an investment group led by Camden County Democratic Party leader George E. Norcross III—to win the club.

The final bid came in at $10.1 million for the bankrupt golf course, which edged out the bid put in by WGCA Associates, the group headed by Norcross and Pennylvania investor Ira Lubert.

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Township and county officials say they're still opposed to development of any sort at the club.

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“We are disappointed that our $10 million bid was not enough to win the auction and ensure the restoration and preservation of this nearly century-old community landmark," Norcross said in an email following the auction. "As one of the largest remaining green spaces in Cherry Hill township, this site is unique in all of South Jersey. While we are disappointed in the outcome, it is our fervent hope that the new owners will honor the longstanding community’s wishes to keep this site open and available for all to enjoy for generations to come.”

Bankruptcy trustee Bonnie Fatell described the auction, which was attended by about 35 people and wrapped up just after 11 a.m. as "lively."

“We are very pleased and appreciate the participation of the other bidders,” Fatell said in an email. “The bidding at the auction reflects the tremendous interest in the property. I am pleased that we were able to maximize the value of the country club.”

A hearing to approve the sale is scheduled for Friday afternoon in U.S. Bankruptcy Court in Camden, and Fatell said the deal could close by the end of the month.

For more on this story, read:

  • End Comes for Woodcrest Country Club
  • Possible Bidders File in Woodcrest Country Club Auction: Report
  • Cherry Hill Calls for Tax Sale in Woodcrest Country Club Bankruptcy
  • Woodcrest Country Club Could Go to Auction in May
  • Woodcrest Country Club Goes to Auction May 20
  • Woodcrest Country Club Closed-Door Auction Draws Members' Ire
  • Woodcrest Bankruptcy Auction Turns Political
  • Woodcrest Auction Bid Approved by Camden County Freeholders
  • Norcross Announces Bid for Woodcrest Country Club

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Munn Lane May 20, 2013 at 03:54 PM
Looks like the Town Council is going to have a mess on their hands...oh wait, they take no action... it's all up the Zoning Board now as to what will happen at the old Woodcrest Country Club. Since their philosophy is that "anything is better than an empty lot", Woodcrest residents had better brace themselves - over 2,400 apartment units could be dropped there in the blink of an eye. The Zoning Board did not care what over 1800 Barclay Area residents thought about the notion of stuffing 152 "luxury" apartments at the old ProBuild (Haddonfield) Lumber site - they had to file a lawsuit to appeal. Woodcrest residents, it's time to break your piggybanks and start raising money to fund one of your own!
Sheryl May 20, 2013 at 03:56 PM
A 55 and over community, is needed in Cherry Hill. It would also help the tax base.
Kurt May 20, 2013 at 04:01 PM
55 and Over? Is Centennial Mill not that?
Scott Browning May 20, 2013 at 04:18 PM
There will be a medical facility built on the site affiliated with Cooper Hospital. That was the plan all along. There was only every 1 bidder - George Norcross. He is behind the development company that won the bidding. His private bid was to deflect that he is really the driving force behind the development company. The township bid by Mayor Cahn was a sham - Norcross is the power broker behind Mayor Cahn - the township bid was just to deflect that Mayor Cahn is in bed with Mr. Norcross to eventually have the site be a medical facility. Do a little digging and see if Mr. Norcross is affiliated with the Union League too? Bank on it - a Cooper affiliated medical facility is on the way.
Kurt May 20, 2013 at 04:42 PM
That should really help the traffic and congestion at the already horrible intersection.
gms May 20, 2013 at 05:01 PM
Seems like you nailed it Mr. Browning...that was their plan all along.....they all have their dirty paw prints all over it.....smelled like a red herring from the inception way back when.....these Cherry Hill residents are all "sheeple"...
Munn Lane May 20, 2013 at 05:05 PM
The current construction at the former Garden State Race Track site calls for 691 apartments; some % of which will be specifically designed for 55 and over...
Diane May 20, 2013 at 07:37 PM
I think it is a terrible loss for South Jersey. Woodcrest is an outstanding golf course and to think that it will now turn to concrete is very sad. Well, the zoning and planning boards of Cherry Hill before approving anything in that area better consider the safety factor. That corner where Woodcrest is located is already a major traffic headache. To add a development to that area would be a safety nightmare. I don't know how any board could approve a development in that area without impacting the safety of everyone that uses that road. Diane
Sheryl May 20, 2013 at 07:42 PM
Another medical facility? That means a non- profit that doesn't pay taxes.
Sheryl May 20, 2013 at 07:43 PM
At least we aren't getting a minor league ice hockey team ( see what happened in Pennsauken).
matt dougherty May 20, 2013 at 08:48 PM
Sheryl, how in the hell could this help the TAX BASE ? It will put a drain on the townships services and therefore the taxes will go UP ! Oh and yes if you happen to live in an apt. you don't pay any taxes, Give Me a Break ! Are you kidding me ?
matt dougherty May 20, 2013 at 08:50 PM
I liked the idea of a DRONE airport !
Robert Shinn May 20, 2013 at 09:41 PM
See our postings and find out what is permitted under current zoning and what other options the successful apartment builder/operator might have in mind. https://www.facebook.com/CherryHillSpotZoning
gms May 20, 2013 at 10:40 PM
Here's what is going to happen: Norcross, Brown etal, King Cahn, this "investment group" & all their cronies will receive their money/proceeds through the sale of the real estate parcel....on it will be a non-taxpaying hospital & medical center, a tax exempt Mosque ("religious institution"), perhaps some apartments (maybe some 55+) and definitely low income housing (for cash flow from state & federal government)....Cherry Hill residentswill have their taxes raised to support services for this new real estate, and the SHEEPLE of Cherry Hill will continue to vote for the Democrat Party in this town and state.....simple enough...
aj May 21, 2013 at 01:07 PM
Anyone wanting to call Michael or Matt Haydinger, owners of First Montgomery Properties, 78 Main Street, marlton, NJ, the Woodcrest CC buyer and inquirer about their intent, here is their personal cell phone numbers and email addresses: Michael haydinger (609) 304-0105 Mike.haydinger@fmgnj.com Matthew Haydinger (609) 304-0100 I'm sure they are planning apartments for the woodcrest CC site. They own 6,000 apts units in NJ, PA & DE and also developed the Ft Dix and McGuire housing through their company United Communities. That's what they do...
gms May 21, 2013 at 02:55 PM
Seems that the elder Haydinger lives in the Fox Hollow section of Cherry Hill and the son (had a house in Fox Hollow) moved several years to Moorestown (how convenient).....more apartments, essentially minimal tax revenue, more infrastructure required, and more township resources eaten up......that means INCREASED TAXES for Cherry Hill residents.........keep the current Regime & Power Brokers in place...nice...

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