Kehriotis talks of plans for broad improvements
John Kehriotis has a list of ideas for his new property,
Ridgemark Golf
&
amp; Country Club, and he jumped right into funding a slate of
improvements in recent weeks while officially gaining
ownership.
Kehriotis talks of plans for broad improvements
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. Kehriotis is a well-known developer of such projects as hotels, shopping centers and other properties from Gilroy to Sacramento, where he also is a minority owner of the Kings NBA franchise.
One of his major undertakings in recent years was development of the Embassy Suites in downtown Sacramento along the river.
“I do good stuff,” Kehriotis said. “If I put my mark on this, it will be a project where the members are certainly going to be proud of it.”
Jerry Gabe, who isn’t a member but lives in the Ridgemark development, said he hopes the new owner makes some long-broached renovations.
He listed off some improvements he would like to see, some of which Kehriotis already has on the table.
“It would be nice if they would renovate the place, put in a new restaurant and put in a gym with a swimming pool,” Gabe said. “These things have been talked for 30 years.”
Gabe, however, noted how a major challenge for Kehriotis might be a group of five homeowners associations at Ridgemark that sometimes do not get along.
Kehriotis also pointed out that a lot of his plans ultimately will hinge on the level of cooperation from the Ridgemark homeowners associations and the county government.
He said there are “a lot of restrictions” he must overcome with both groups.
He pointed out, though, how shareholders voted to approve the transfer with 91 percent in favor – showing support for his ideas.
“I think they will [cooperate],” Kehriotis said. “I think they will be pleased with the vision I have.”
Supervisor Jaime De La Cruz said county officials have an “obligation” to look at related projects – “especially in today’s economy.”
He also noted how the county should consider ways to “streamline” matters with Kehriotis.
“Anyone who wants to invest in the community, we as a board of supervisors have an obligation to look at it and see if it provides jobs and tax revenue for the community,” he said.
Other ideas Kehriotis offered in the interview included the possibility of converting the tennis courts into a health spa and weight room, and building a “large” swimming pool.
He also expects more “subtle” changes in the coming months such as better food and wine in the restaurant.
“There are a lot of opportunities and possibilities, if it’s managed right,” he said.
