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11. 47.2 acres where the maintenance barn, guest cottage
site, and the old Paullus residence were located
12. 35.08 acres composed of three parcels located at
George’s Drive, Ray’s Circle, and the end of Ridgemark
Drive
13. 7-acre parcel located off Ridgemark Drive
Ridgemark acquired only two properties after April 1977:
(1) March 27, 1984, 1.89 acres at the corner of a major highway;
and (2) February 1985, 269 acres from Bushmont Properties
(Bushmont property). Ridgemark paid $1,825,379.90 for the
Bushmont property.
Ridgemark built a second 18-hole golf course, a tennis
center, and a new clubhouse facility on approximately 130 acres
of the Bushmont property. The new 18-hole golf course located on
the Bushmont property had a cost of about $1,600,000. The value
of the Bushmont property, after improvements, was estimated to be
$3 million. A lighted 10-court tennis facility and a new 5,000-
square-foot clubhouse located on the Bushmont property cost
approximately $492,000. Ridgemark also added 175 parking spaces.
The vast majority of Ridgemark’s real property holdings had
been acquired as of 1977. Between April 1977 and 1989, Ridgemark
sold the following properties to either Financial or
Construction:
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Last modified: May 25, 2011