HomeMy WebLinkAbout1955-10-04 Ross Pays $750,000 To Buy Winter Club (Palm Beach Post)I -4-5S Cu N Ni3.43 14414S1 SCRAP tots Ae.c.4dc--
P+55- 1959 Ar..s orky
Ross Pays 750,000
To Buy Winter, Club
Sale of the Palm Beach Winter Club by the Palm Beach Develop-
ment Co. to North Palm Beach, Inc. — Ross Brothers Construction.
Co. —at a prke of $750,000 was reported jointly by Charles A. Cunning-
ham and Richard E. Ross late Monday. Mrs. Raymond F. May and
Co., served as brokers in the transaction.
Ross, who with his brother,
plans to develop another huge
tract of acreage in the area and
construct some 1,500 homes start-
ing shortly after the first of the
year, said that the 18-hole golf
course would continue to operate
as it has in the past and would be
open to the public at all times.
At the same time he announced
plans for extensive development of
the club. He said that plans al-
ready are in the formative stage
for the addition of an olympic
size swimming pool and cabana
club, a marina on Lake Worth and
tennis courts and other facilities:
Cunningham, local representa-
tive of John MacArthur, Chicago
financier and owner of. the devel-
opment firm w!iich rec4,; .;;ly pur-
Aased approximately 80 per cent
of thd property in Lake Park, and,
some 6,000 acres lying immediate-
ly to the north of the town limits,
(Continued on Page 6, Col. 1)
(rontilo0,1 .Proin Page ()qe.)
Wirher
Cl
said last Light that negotiations
for the purchase of the club by
North Palm Beach, Inc., started
approximately a month ago.
In addition to the actual club
facilities and the golf course, the
sale included approximately 57
acres of lake front land lying to
the'east of U. S. 1. Club property
to the west of the highway is
estimated at 170 acres.
The property affected by Mon-
day's sale extends for 3,300 feet
along U. S. 1 on both east and
west sides; 4,000 feet on Lake
Worth, and one mile along the
Intracoastal Waterway.
Two holes of the present gol
course — those lying at the south-
western corner — will be relo-
cated and placed more to the
east and south, bringing them al-
most along U. S. 1, Ross said in
revealing that the c.1,1pg,, would be
ne'essal y i-rdor to square up
the prrts, the established in
the purchase.
The acts gaif course covers a
distance of some 6,500 yards.