HAVERHILL — What was an albatross around the city's neck has escaped financial difficulty and is about to bring a mini-housing boom.
When the Renaissance golf course was built here three years ago, it was touted by city leaders as a gem that would draw professional people with deep pockets to become members, and even buy expensive homes around the course.
But a series of financial problems, including two auctions of the property, stalled development of parts of the course and homes around it.
Now, new owner Southworth Development says it expects 21 new high-end homes will be built on lots around the course.
Southworth officials said they plan to market the lots and sell them for development of homes that will fit in with the nature of the course and the dozens of homes already there. The lots are perched on land elevated above the golf course.
William Pillsbury, the city's director of planning and economic development, said the Renaissance complex has 63 home sites in total — 42 already built or under construction and the 21 that will be developed.
"The type of investment being made is a vote of confidence in where Haverhill is going," Pillsbury said. "People have a sense that this property is valuable and is going to continue to be valuable in the future. Being done with the course and adding stability (through a plan for more homes) takes it out of a difficult situation."
While other developments in Haverhill have stalled because of the slow real estate market — some inner-city condominium projects, for example — the Renaissance plan to have more homes around the golf course is a good sign, Pillsbury said.
"It's a slow market. Not a lot of new subdivisions are being proposed," he said. "But this continues to be a viable product of high quality."
Haverhill's population has grown by 20 percent since 1990 to the current all-time high of 62,000 people. During that time, the city has experienced several housing booms, the latest being more than 700 apartments and condominiums being built or planned downtown.
The Renaissance property is located in one of Haverhill's most rural areas, between East Broadway and Kenoza Street. The complex is centered in the old Mavrofriedes gravel pits.
Pillsbury said the city has certain controls over development around the course, including making sure high-quality roads, street lights and sidewalks are part of the housing expansion. He said he believes deeds to the homes already built require that the new houses will be of high quality.
Renaissance is Haverhill's sixth golf course. It has 18 holes and a 30,000-square-foot clubhouse under construction. The Renaissance complex, sprawling across 197 acres, was touted as the best course in the region when it was built three years ago. Haverhill leaders were thrilled, saying the showcase club was just what the city needed to boost its image as a growing community, a place where everyone from big business types to pro golfers wanted to be.
Then trouble began. Founder Paul Quinn ran into financial problems, which forced a bank foreclosure of the property, then an auction, but still no one bought the complex and the city feared it would sit unfinished. Some charter members who had paid as much as $500,000 worried about losing some or all of their investments.
But Southworth Golf Management took over, promising financial stability and to make the property complete. The company is building a clubhouse geared toward everyone in the golfing community, with a function area for weddings and other family events, billiards room for children, ladies locker rooms and a fitness area.
Southworth Golf Management is a subsidiary of Newton-based Southworth Development LLC. The company has golf courses around the world. David Southworth founded Southworth Development LLC and serves as its CEO. He has developed $1 billion in golf and hospitality projects, company officials said. The company manages golf courses in the United States, Puerto Rico, the Dominican Republic, the Bahamas and Scotland.
Renaissance is Haverhill's fifth 18-hole golf course. The city also has a nine-hole course. Together, Andover, North Andover and Methuen have the same number of 18-hole courses Haverhill has. Haverhill's other golf courses are Bradford Country Club, Haverhill Country Club, Crystal Springs Golf Course and Far Corners, and the nine-hole Murphy's Garrison Par 3.
