The World Golf Village Renaissance St. Augustine Resort, one of St. Johns County’s signature hospitality properties, has changed hands in a $24.25 million transaction, according to a report.
Indianapolis-based Sun Development & Management Corporation, operating through an entity named St. Augustine Lodging Associates LLC, closed on the property on July 3, according to the Jacksonville Business Journal.
The seller was Atrium Finance IV, a firm based in Phoenix, Arizona.
Originally built in 1998, the roughly 300,000-square-foot hotel was built during the early stages of the now defunct World Golf Village project, a sprawling master-planned community centered around golf tourism and related entertainment.
But the Hall of Fame opted to relocate in 2023, and the adjacent IMAX theater has also shut its doors.
Additionally, the PGA Tour Productions facility next door was vacated after the organization decamped to its new headquarters in Ponte Vedra Beach.
Despite those closures, the surrounding area remains one of the most active commercial corridors in St. Johns County with the arrival of national retailers such as Bass Pro Shops, Buc-ee’s, and Costco.
County officials are currently evaluating redevelopment options for more than 110,000 square feet of space and approximately 36 acres of public land that housed the former attractions.
Sales of the parcels have been stymied by covenants that restrict uses to golf-related ventures, and the matter is playing out in court.
The Renaissance remains one of the largest hotels in St. Johns County, with roughly 300 guest rooms and substantial event and meeting space.
It is second in room count only to the Sawgrass Marriott.
