HUTCHINSON, Kan. — The company leasing Cottonwood Hills Golf Club says it is suspending operations of the course until a new owner can be found.

Park Partners, LLC, issued a news release saying it will no longer lease the course from Apex Bank of Camden, Tennessee. The bank has been in ownership of the course off and on for several years after buying it in foreclosure. Park Partners, which is located in Wichita, had been leasing the course since 2016 but said business restraints have forced the company to close the course effective immediately.

The release went on to say that the lack of ownership commitment was a major reason to cease operations. “Without asset holder support, Park Partners LLC will no longer be able to maintain the necessary standard of the property and the business they expect.”

It is the third time Cottonwood Hills has been idled because of financial issues. The Nick Faldo-designed course opened in 2007 but closed soon after when developer Lane Neville could not find investors to fund the housing portion of the development.

The development was also hampered when Reno County was not willing to give concessions to Neville, fearing a repeat of the Paganica property, now known as the Highlands, which financially collapsed leaving the county holding the bill.

The course was then purchased by Drayton Aldritt of Wichita. With a Herculean effort, he opened the course and brought it back to playable conditions after it was idled for three years.

But the course quickly became the subject of much speculation when it was only open during the warmer months. The course was put up for sale. When there were no suitable offers, Aldritt took the listing off and the course eventually went back to the Tennessee bank. The bank has since put the course on the sale bill again with an asking price of $2,490,000.