GAITHERSBURG, MD—Monument Realty after considerable public outreach will be looking to secure county approval of its plan to redevelop the Montgomery Village Golf Club and develop 600 housing units at the 147-acre site.
Washington, DC-based Monument Realty acquired the Montgomery Village Golf Club at auction for $5.5 million after the previous owners filed for bankruptcy in 2012 to prevent foreclosure, according to the Washington Post.
Only 22 residents of the approximately 40,000 residents of Montgomery Village are members of the golf club.
“If Monument hadn't showed up in the end at that auction the golf course would be closed,” says Russell Hines, president at Monument Realty. “The employees would have scattered to the wind. Yamaha would have pulled up with a flatbed truck and taken its carts away. It would have been shuttered.”
In place of the golf course, Monument is hoping to secure approvals for a mix of single-family detached homes, townhouses, duplexes and an apartment complex. The project will also feature a significant amount of green space.
“We're going to take the golf course, which is no longer feasible, and convert much of it to an 80-acre park,” Hines says. See story in the Washington Post.
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