THE STATE OF THINGS IN GOLF COURSE OWNERSHIP

Magnolia Point sold, new owners to meet with uneasy residents


Long-term ownership is still an unanswered question.

Posted: October 23, 2010 - 12:00am

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By Debra W. Buehn

After a recent and unexpected change in ownership, the future of Magnolia Point Golf and Country Club is up in the air, leaving members and residents to wonder what's next.



And the 23-year-old upscale residential development and golf club in Green Cove Springs may yet change ownership again.



"Right now it's still so fresh, we're just trying to get our arms around it," said Roy Gulick, a longtime resident who has been active in many organizations there.



Gulick and other residents and golf club members hope to learn more at a 6:30 p.m. Thursday meeting with Magnolia Point officials at Clay High School.



Residents and club members learned late last month via an e-mail that club owner Joe Wyzkoski had signed his deed over to Floribec International Inc., which had acted as Wyzkoski's lender and mortgagee since he bought the club in 2004. The e-mail was signed by Thomas Schad, a German attorney and president of Floribec International Inc., who has been associated with Magnolia Point since he opened it in 1987.



Wyzkoski could not be reached for comment.



Committee formed



The community currently has about 715 residents and home prices range from $200,000 to $600,000, according to the residents' website, www.magnolia residents.com.



Since the turnover, Floribec formed a subsidiary, Magnolia Golf Management LLC, which now operates the club, said Van Royal, vice president of the subsidiary. Royal, a longtime Magnolia Point resident and Green Cove Springs Realtor, is an officer in Floribec and oversees current "day-to-day" operations.



One of Royal's first moves was to form a committee of about 25 Magnolia Point "community leaders" to facilitate communication between residents and those now in charge of the club.



"We want to be open and communicative and hear from the community, and we hope to communicate through the committee," he said.



Royal met with the committee Oct. 16 to update them on the club's status. Information from that meeting will be delivered to Magnolia Point residents in a "hard copy," rather than by e-mail, to ensure those who don't use e-mail know what's going on, said committee member Gary Dake.



Dake said the committee is anxious to talk to Schad, who will be at the Oct. 28 meeting.



"We need more complete information," he said.



Royal said the club is retaining its golf pro and chef, and may even try to extend the restaurant's hours. In addition, the club will be open through December to Magnolia Point residents who are not members, to encourage them to join.



"We're making every attempt to make things as seamless as possible," he said.



Membership in the semi-private golf and country club is elective for residents. Nonresidents also may join.



Evaluating options



The long-term ownership of Magnolia Point is an unanswered question. But Royal, in an Oct. 5 e-mail sent to members and residents, said, "We are still very early in evaluating what our options are but we are not going to own and operate this golf course as a long term investment. We have not officially placed the club on the market as we believe it would be prudent and the right thing to discuss this with the members and residents." Royal confirmed that stance this week.



Residents and Magnolia Point officials want to avoid a repeat of the Ravines saga, in which continued disputes between residents and the owner of the Middleburg-area club and lodge resulted in it being shuttered and unsuccessfully put on the auction block.



"No one, absolutely no one, wants that to happen," Royal said.