FLATWOODS Braidy Industries Chief Executive Officer Craig Bouchard has announced the purchase of the Oaks Golf Course property in Flatwoods as part of a real estate project to develop housing for young families.
The Daily Independent interviewed individuals associated with the auction of the golf course this week. They said a company by the name of AL Greenup, LLC purchased the Oaks Golf Course for $996,600 during a recent auction.
Bouchard announced on social media late Friday that Braidy is purchasing the property.
"I’d like to mention first to my friends that Braidy was the high bidder and acquired The Oaks last week," Bouchard said. "Closing is March 8 and there will be some press then. Our acquisition includes the public golf course and 700 acres of additional gorgeous acreage."
Bouchard also described the company's intentions behind the purchase.
"For some time I’ve been wondering where young people and their families are going to want to live in the next generation of our community. Quite a few companies and a couple thousand employees will eventually surround the mill, and that doesn’t include a replacement for AK Steel. There isn’t enough housing and infrastructure for young families.
"We need to design and build a community that will attract young families to Ashland and encourage our incredible young people to get married and stay here.
"So I’d like to mention first to my friends that Braidy was the high bidder and acquired The Oaks last week. Closing is March 8 and there will be some press then. Our acquisition includes the public golf course and 700 acres of additional gorgeous acreage.
"Message to all: Please be patient. Expect no big changes until we make a plan, create an architectural design, and then build a very nice community. It will take a couple of years. It will be impressive."
On Saturday morning Bouchard announced that Braidy executive Nate Haney has been named President of Braidy Real Estate.
"Nate is an Eastern Kentucky boy who was the first in his extended family to go to college. He later earned an MBA and Law degree. He was the Deputy Cabinet Secretary for the Governor. Nate is a pretty good golfer, great dad and husband to Meredith. He will run The Oaks project for us."
Earlier this week Jared Shinn, Director of Marketing and Operations at Joe R Pyle Complete Auction and Realty Services, said there is a 30-day closing window on the purchase. At the time of the interview Shinn did not know exactly what the purchaser intended to do with the property.
The Oaks Golf community, located in Flatwoods, features 714 acres with an 18-hole golf course, a 3,300-square-foot clubhouse, driving range and a pavilion in addition to the challenging par 72 course. The community also has 25 ready-to-build lots for houses, a 68-acre and 15-acre tracts for development and a 482-acre wooded tract.
Shinn said there were a total of 60 to 65 bidders interested in the property at the auction—both in-person and online.
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