Reporting David Madden
Filed underBusiness & Economy, Environment, Government, Heard On, Local, New Jersey, News, Philadelphia, Syndicated Local, Watch + Listen
By David Madden
CHERRY HILL, N.J. (CBS) — A bidding war could be developing for the bankrupt Woodcrest Country Club, in Cherry Hill, with the township itself now a potential player expressing a desire to keep it as a golf course.
Cherry Hill Land Associates of Marlton, NJ has agreed to buy the Woodcrest Country Club for more than $6 million, pending the approval of bankruptcy court (see previous story). A judge will allow higher bids through late May.
But now, township mayor Chuck Cahn (at lectern in photo) has reached out to county and state officials, asking to use “open space” conservation money to make a competitive bid.
And Cahn says they may also play a trump card if necessary.
“Should the township and county eventually be outbid by a third party, we want to make it very clear that we do not and will not support any change in zoning from the property’s current ‘institutional’ designation,” he said today.
The Philadelphia-based Union League is among several entities expressing interest in the land. The Union League says it would keep the land as a golf course, which would be fine with Cahn.