EAST PROVIDENCE — A week after notifying members of its plans to sell, the owners of Metacomet Country Club have indeed sold the 119-year-old golf course to a company with city ties, Marshall Development.

In a press release issued Thursday, Feb. 27, Marshall Development announced it had entered into a purchase and sale agreement with Metacomet Property Company to buy the 138.27-acre parcel off Veterans Memorial Parkway. No sale price was included in the release.

The statement read in part, “Marshall plans to redevelop the site into an exciting first-class mixed-use property that will bolster both commerce and community in the upper bay. In the coming months, a vision for the property will be unveiled — a vision that will further strengthen East Providence and Rhode Island’s economy through investment, job creation and the development of a vibrant center of activity in one of the state’s top communities.”

Before any proposed redevelopment of Metacomet can go forward, however, the zoning distinction must change. Currently, the course is designated as “Open Space,” which means it can only be used as a golf course or parkland. Any proposed alterations must first come before the city’s Planning Board and then the City Council. Potential changes would be subject to numerous approvals.

The Metacomet Property Company includes Rhode Island golf legend Brad Faxon, former Wannamoisett Country Club head professional Steve Napoli, Tim Fay, Brendan VanDeventer and Karl Augenstein. The group reportedly purchased the club for $2.2 million in early 2019.

The week prior to announcing the sale agreement, the Metacomet membership was informed of it potentially being placed on the market by the owners via an email, which has been widely circulated via traditional and social media outlets. It read in part, “We would like to inform the Membership that we have entered discussions toward the possible sale of the Club property..It is probably not a surprise to our members that our first calendar year was financially difficult, with our losses higher than in the Club’s two prior years.

Marshall Development is directed by siblings and city natives Lianne and John Marshall. The Marshall company was once headquartered in Rumford. It maintains an office in the Narragansett Park Plaza at the East Providence-Pawtucket line. It’s most recent development of note in city came in 2016 with the completion of the then-University Medicine, now Brown Medicine facility on Wampanoag Trail.