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RED FEATHER LAKES - Founder Ray Stenzel's vision for the Fox Acres Country Club - an earthbound paradise for family and friends without the high-flown trappings of other exclusive clubs - is a step closer to fruition with a $6.5 million sale of the golf community.
Frazier & Co. Ventures LLC, owned by Fort Collins investor-developer Kevin Frazier and his wife, LeAnne, in early May sealed the purchase of the Red Feather Lakes mountain property, 50 miles northwest of Fort Collins. They bought the property from the Fox Acres Equity Club, a members' group that had struggled to manage and develop it for the past four years.
"I told them I felt I had been handed their favorite grandchild to raise," Kevin Frazier said of the negotiations leading up to the sale. "My main purpose in this deal is to finish what the Stenzels started."
What the Fraziers get is a stunningly beautiful 18 -hole golf course, clubhouse and tennis center, plus 115 vacant lots for homes planned but never built during the 20 years since the golf course was completed.
Fox Acres is approved for about 240 homes, but only 89 have been built, and would-be homeowners and investors have purchased another 33 lots. During the past eight years, while the club was under the management of...