Property owners buy Diamante golf club

HOT SPRINGS VILLAGE — Diamante Country Club, a privately owned golf course in Hot Springs Village, has been sold by Club Corp. and Cooper Industries to a corporation owned by Diamante property owners.

The purchase was finalized Dec. 12.

“This transaction creates several advantages for our membership,” Dennis VanLeeuwen, secretary of the board of directors, said in a news release. “First, we will control our own destiny. Also, all proceeds above and beyond the basic operational needs will be plowed back into improvements allowing the club to maintain the quality that the membership expects.”

Another anticipated advantage relates to property values in the Diamante subdivision. Currently, Diamante properties lag behind comparable home values in the nearby Granada and Isabella neighborhoods because of a previous requirement that Diamante property owners be dues-paying members of the club as long as they own their property.

The change in ownership creates a new member classification enabling qualified full golf members to go inactive after 36 or 48 months with the subsequent buyers of their property only required to pay dues for 36 months before having the option to go inactive or change membership type, the release said.

“We think that will break the logjam of property transactions caused by the previous restriction,” VanLeeuwen said.

As part of the change, the Diamante nonprofit has signed a three-year contract with Kemper Sports to manage the club and golf operation.