I have personally talked to Reno Planning about converting the Somersett Golf and Country Club into an infill housing project. They were ecstatic about the idea. They view golf courses as an almost sinful waste of space and water resources. Infill housing within an existing Fire and Police service area with water and sewer infrastructure already in place is a no brainer, and the property tax bump would be enormous.
ArrowCreek has some difference, mainly due to water ownership. The golf courses currently purchase “purple pipe” water for irrigation purposes, and the County needs a place to dump their excess gray water. I suspect that Washoe will view infill development on the golf course (or courses) much as Reno does – a revenue boon within an already served service area. The barriers to infill development are being grossly overstated, and you best believe Toll Brothers and the like are already looking at it at ArrowCreek.
In my opinion, any golf option at ArrowCreek will ultimately fail. So the decision comes down to if you as residents want to control what happens to the closed golf course(s), or let market forces dictate the outcome. Buy it, control it, and close it is the best option for the HOA.