Venetian Bay Golf Course Under New Ownership

The golf course at Venetian Bay was sold to a Canadian firm for $5.5 million. The new owner, Geosam Capital Ltd. hired the Palm Beach Gardens based Kitson & Partners to take over the management of the Venetian Bay Golf and Beach Club. The new general manager is Kyle Mooney, who managed the Kitson owned Highlands Reserve Golf Club near Orlando. It is too early to tell what changes will be made to the golf course and club, however the future is brighter than it was under the management of the Johnson Group.
Currently it is a private club with five different memberships which range in price from $850 to $4000 for a family annual membership, and a $500 to $5000 initiation fee.

Geosam Capital Ltd already owned the lots abandoned by Tiffany, in the Savannah Pointe section of Venetian Bay prior to closing on the Golf course deal. Along with the golf course/country club, Geosam acquired 25 acres of vacant commercial property at the Venetian Bay Town Center, this does not include the Tuscany Square Condo. Also included in the deal were 91 home lots and a development lot that can accommodate 118 townhomes.

Venetian Bay, which first started selling homes in 2004 was red hot until the housing bubble bust. Development came to a screeching stop in 2007 until late 2010 when D. R. Horton took over the lots owned by K B Homes. Now with Geosam Capital Ltd in the game, I look forward to seeing the dream that so many of us had for Venetian Bay to become a reality.

Visit one of my websites at http://selldaytona.com/ or http://www.venetianbay.org/