- April 25, 2024
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Matanzas, Pine and Cypress courses would have new Palm Coast-based ownership.
A group of Palm Coast investors plans to purchase and rejuvenate the closed Matanzas Woods Golf Course, as well as purchase the Pine and Cypress golf courses, according to an ambassador for the group.
The Golf Group of Palm Coast LLC has a targeted closing date of late October and, group ambassador Craig Ranciato said, “The Golf Group doesn’t see any obstacle that will stop it from closing.”
Buyer details, including the price, would come after closing.
Immediate plans would be to maintain and enhance the Pine and Cypress courses.
The Matanzas course has been shut down since 2007. The Golf Group plans to renovate Matanzas in phases. First, the fairways would be recuperated and maintained. Then, the group plans to open the driving range to the public. And, depending on further evaluation, the clubhouse will be restored or rebuilt at a future date.
Ranciato suggested that the group hopes these amenities will boost property values and give residents in northern Palm Coast a new recreation destination and attraction.
“The Golf Group wants to make sure it has a handle on (Pine and Cypress) before it invests in Matanzas,” Ranciato said. “The group wants to be here and be here long term. This is not a short-term venture. It’s going to be part of Palm Coast for many years.”
Ranciato met with Palm Coast Mayor Jon Netts Aug. 22 in order to show him the contract and discuss the deal.
“If their business plans suggest it makes good sense for them, certainly the reopening of Matanzas Woods Golf Course makes sense for the city,” Netts said after the meeting. “This is local employment, local tax dollars, enhancement of the city’s image. I see nothing but good.”
Netts remarked that until the names are on the dotted line and the check clears, it’s not finalized, but he said he was optimistic the deal would go through.
Ranciato said one of the investors is relocating to be more involved in the deal, which is an indication of how secure the deal is. He added that having local owners could help to give the courses a family-run atmosphere.
City Manager Jim Landon said that if the deal goes through, it would be a benefit to the whole community.
“Any investment that would help bring Matanzas Woods Golf Course back to life would be good not just for that neighborhood but for the surrounding neighborhoods,” Landon said. Stabilizing the Pine and Cypress courses would have a similar positive effect, he added.
Involving the city was primarily a customary gesture and part of the due diligence of the group, Netts added.
The Matanzas Woods Golf Course has long been considered a top design in the region. It remains a favorite today despite the closure; many former players who now play at the Grand Club retain the name, Matanzas Golf Association.
“The Golf Group will be proud to restore Matanzas and bring back the city’s most beloved golf course,” Ranciato said.
— Brian McMillan contributed to this report.
