The Vineyard Golf Club completed its purchase this week of four lots owned by the Sheriff’s Meadow Foundation in the old Vineyard Acres II subdivision off the West Tisbury Road in Edgartown.
The four lots include four acres of land and were sold to the golf club by the conservation group for $310,000. Of that, $10,000 was paid to the foundation as an option at the time of the sale agreement and was used to cover legal expenses associated with the sale.
The remaining sale money of $300,000 is expected to be donated by the foundation to the town of Edgartown for conservation.
The sale of the four lots took place on Wednesday afternoon. It is the final piece needed by the golf club to complete its ownership of the 245-acre property formerly planned for 148 houses.
The golf club project was approved by the Martha’s Vineyard Commission in July of 1999, after lengthy review as a development of regional impact.
The bulk of the property was purchased by the golf club from a title insurance company and a group of former owners earlier this year. Purchase price was $15.9 million.
The purchase of the four lots from Sheriff’s Meadow clears the way for the golf club to replace a conservation restriction on the property with what is called an enhanced conservation restriction. The old conservation restriction ran with the old subdivision.
The enhanced conservation restriction has been signed by the state Secretary of Environmental Affairs and by the Edgartown Conservation Commission; by prior arrangement, the restriction was held in escrow until the sale of the Sheriff’s Meadow lots was complete.
Construction has been under way on some parts of the golf club property for some months. The private, 18-hole golf club is expected to open in about a year and a half.
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