Neumann acquires Silver Spring Golf Club, plans to move forward with large subdivision.
Milwaukee Business Journal – By Teddy Nykiel – Nov 16, 2022
Menomonee Falls, WI – Local housing developer Neumann Developments Inc. bought the Silver Spring Golf Club in Menomonee Falls Tuesday, state records showed. Find out how much the firm paid and the timeline for moving ahead with a large subdivision at the site of the popular golf course.
The residential development firm paid $5.65 million for the 278-acre site, according to state records.
The sale makes way for the planned Fox River Falls subdivision, whichwould bring up to 385 housing unitsto the property, including mostly single-family houses and some duplex condominiums.
Neumann plans to keep one of the club’s two 18-hole golf courses— known as the Island course — open while it builds the subdivision’s first phase in the southern half of the development. It plans to maintain the club’s current management and keep the banquet facility open indefinitely, Neumann Developments president Steve DeCleene told the Milwaukee Business Journal in August.
More than 20,000 golfers use the Island course every season and the banquet facility hosts more than 50 weddings and other events each year, according to Neumann.
An entity associated with Neumann purchased the 278-acre golf club from Varin-Silver Spring LLC, an entity associated with LegacyVarin Property Management LLC of Highland Park, Illinois. The golf club is at N56 W21318 Silver Spring Drive.
The first phase of the subdivision is slated to include 32 duplex condos along Silver Spring Drive, 58 single-family lots that are 12,000 square feet and 37 lots that are 15,000 square feet.
