John Kehriotis, the new owner of Ridgemark Golf
&
amp; Country Club, talks about some of his plans for the
property. In the short term, he already has funded long-deferred
maintenance on the golf course, buildings and roads. In the long
term, he plans to build a hotel and talked of such ideas as
developing a shopping center at the entrance and building a health
center and spa.
John Kehriotis has a list of ideas for his new property, Ridgemark Golf & Country Club, and he jumped right into funding a slate of improvements in recent weeks while officially gaining ownership.
The Santa Clara-based investor and his company JMK Investments purchased the Ridgemark property’s deed more than two months ago from the corporation’s bank. Kehriotis officially gained control when a large majority of shareholders last week agreed to the ownership transfer while avoiding foreclosure from the investor.
Kehriotis believes club members have noticed an immediate difference.
“They’re seeing work in action,” he said. “They’re seeing improvement on a daily basis.”
So far, he noted that he already has spent around $200,000 reseeding, aerating and replacing bunker sand on the course. He did so because maintenance had been deferred. He also is having all the dry rot on the buildings replaced and has immediate plans to paint the property’s structures, spruce up the men’s bathroom and reseal driveways, he said.
But that, it appears, is just the beginning for a club and surrounding properties that, under the corporation, had faced financial meltdown for years while the grounds continued deteriorating.
Kehriotis talked to The Pinnacle this week not just about the short-term fix-ups he has undertaken and expects to continue, but also how he has eventual plans for a new hotel and other ideas such as possibly building a shopping center and placing a “nice, attractive” sign at the entrance off of Airline Highway.
He has the experience and capital to get it done, too.
For the full story, see The Weekend Pinnacle on Friday.
