New Owners @ Greystone...
The former owners & founders of Greystone Golf Club in Walworth are now the new owners of the facility. The new name of the golf facility will be The Links at Greystone.
John Odenbach, former CEO of the Dolomite Group, headed a family group of investors to buy Greystone from the Dolomite Group. The terms of the deal were not disclosed and closing is expected in March.
Greystone Golf Club was built in 1995 by the Odenbach family. It is an upscale public course on 270 acres with a pub-style clubhouse. The Odenbach family had sold all of the assets of the Dolomite Group, a mining and quarry company, along with Shadow Lake, Shadow Pines and Greystone golf clubs to Ireland-based Oldcastle Materials in 2000 to settle a family estate, John Odenbach said.
The three golf clubs are up for sale because it doesn't fit in with the core business of the new owners, Odenbach said. But the clubs are sentimental to his family, he added.
"We personally built it," Odenbach said. "It's close to the family."
The Odenbachs made offers to purchase Shadow Lake and Shadow Pines in Penfield but the offers were not accepted, he said.
Concerns were raised by some Penfield residents about possible development on the golf courses in the western part of Penfield. The Dolomite Group has told Penfield Town Supervisor Tony LaFountain it hopes to sell Shadow Lake for continued use by golfers but Shadow Pines would be available for any buyer.
A group of citizens called Heart of Penfield are meeting weekly to try to halt development on Shadow Pines.
"Town residents are really upset about this," said Mike Ruff, spokesman for the Heart of Penfield. "We have beautiful green space right in the heart of Penfield."
The group is concerned about additional traffic along Route 441 and other arteries as well as the destruction of green space and pine trees, he said. It is working with the town government on alternatives such as using the space as a park, Ruff said.
Golf is a tough business in the region as there are many courses and clubs, both public and private, Odenbach said.
"It's a low margin business," he said.
Odenbach plans to keep Greystone public and will make improvements to the facility.