Country Club in Massachusetts considers selling 48-acres of land for $13M

If Salem Country Club sells it to a developer, the land would become apartments

A 125-year-old golf course could soon be home to more than just fairways and greens. It could home to, well, residences. 

Salem Country Club in Peabody, Mass., is considering selling 48-acres of land to a developer for $13 million. The undisclosed developer wants to build 280 apartments on the land adjacent to the golf course’s fifth hole.

Club President Charles Fox confirmed to The Salem News there is an offer but said no decision has been made. 

 “There’s an interested party but nothing’s agreed to or done,” Fox said. “We get inquiries from people all the time. It’s really just in the beginning of the process.”

Salem Country Club has 381-acres in total. A report that was provided to members regarding the proposed purchase said that about 25 acres adjacent to the fifth hole would be retained by the club as a buffer zone.

This same member report stated that the proposed purchase price would equal $13.02 million or approximately $46,500 per apartment unit. 

However, selling the land is not as easy as accepting the offer and getting the funds. If the club does plan to sell part of its land for a residential development, it must give the city of Salem the option to match the offer, according to the program’s application that The Salem News cited. The city could also assign its option to a nonprofit conservation organization.

The reason? Even local governments want their tax dollars. 

Salem Country Club currently gets a 75% discount on its property taxes to the city of Peabody under state law, according to the city assessor’s office. Under that law, recreational land, which can include golf courses, are taxed at only 25% of its value, according to the newspaper.

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