Chestnut Ridge Golf Resort sells for $2.4M

Texas developer is the new owner of the resort in Pennsylvania

Chestnut Ridge Golf Resort in Burrell Township, Pa., has a new owner. RRH Developments, a developer based in Houston, bought the property in an auction in late July.  

“We had lots of interest and lots of participation,” said Sherman Hostetter, the auction manager.

RRH offered $2.4 million — plus a 10% fee for Hostetter Auctioneers of Beaver Falls, which handled the bidding, according to the Indiana (Pa.) Gazette.

“It is going to remain a resort, with all the employees staying in place,” said Dwayne Day, the attorney for RRH Developments.

The 345-acre Chestnut Ridge complex includes two 18-hole golf courses, 35 acres of undeveloped land, a banquet and conference facility and a clubhouse. The resort also has a restaurant, spa and salon and a 92-room Hampton Inn & Suites hotel. 

“It is probably the premier property that is a golf property, but RRH has developed properties all over the country,” Day said. 

The property sold 12 years ago for $7.5 million. After buying out their former partners, owners Tom and Jim Usher wanted to move on to other interests. 

 A golf property appraiser, Larry Hirsch of Philadelphia, told the Gazette in June that the game of golf has struggled with declining interest for more than 10 years, but that the COVID-19 pandemic had fueled an increase in interest because of how the game can be played safely. 

“Golf is a socially distance, friendly activity so there are a lot of people returning to golf,” Hirsch told the Gazette. 

Hirsch predicted back in June that the well-maintained Chestnut Ridge facility would be a high-quality item on the market this year.

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