BUSINESS

Golf course deal closed; Greencastle Greens links to stay

PAT FRIDGEN
Farhad Memarsadeghi, owner of Admar Custom Homes, this week closed on the purchase of the Greencastle Greens Golf Course.

“We finally settled.”

A four-year saga ended Wednesday, Aug. 11 for Farhad Memarsadeghi, owner of Admar Custom Homes, when he closed on the purchase of the Greencastle Greens Golf Course.

Admar had been in court with golf course owner Greencastle GIBG since August 2006. GIBG, a Connecticut company, filed land development plans with Antrim Township that July to convert the course into ‘The Preserve’, a 191-lot subdivision on 212 acres. Admar, already in development along the 14th and 15th fairways, sought to stop the plan and enforce the widely-accepted belief that the deed to the property required the land always remain a golf course.

The judge at Pennsylvania’s Middle District Court ruled in favor of Admar in September 2009 but GIBG, a real estate investment firm, appealed with the United States Court of Appeals for the Third Circuit. The two sides then entered nonbinding arbitration to try to settle their differences. They reached a tentative agreement in June and signed the final papers last week.

“The purpose was to save the golf course and we saved the golf course,” said Memarsadeghi Friday.

He stopped in the Antrim Township office to take GIBG’s land development plans out of their files.

Bill Woodcock, sales director for Admar Homes, was delighted with the news.

“We can unequivocably tell people this will be a golf course in perpetuity,” he said. “It takes that question away from all the purchasers we visited with in the past, literally hundreds of people.”

He works out of the Shannon Drive South model home, and is promoting 22 lots in The Fairways at Greencastle Greens, the first phase of a five-phase 160 lot development.

Woodcock said Memarsadeghi would continue to create a traditional golf course community, but with no homeowner association dues. The course will remain open to the public and retain its current management.

Admar is based in Frederick, Md. and has five communities in Pennsylvania and Maryland.