Philly Social Club Eyes Bankrupt NJ Golf Course
An exclusive social club in Philadelphia is interested in buying the bankrupt Woodcrest Country Club across the Delaware River in Cherry Hill, N.J.
An attorney for The Union League of Philadelphia told a bankruptcy judge in Camden on Monday it intends to bid on the country club at a public auction set for May 20.
The Philadelphia Inquirer reports that the Union League would keep Woodcrest operating as an 18-hole golf course.
The private country club ran into financial problems after borrowing money to build a new clubhouse in 2002.
The 155-acre property is zoned for institutional use, not for housing.
Cherry Hill officials have said they want the land preserved as open space. But other potential buyers include real estate developers.
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