A Westchester country club that has been struggling to stay afloat amid the economic crisis has been put up for sale, raising concerns among nearby homeowners about its future.

Henry Shyer, the president of the 128-acre Ridgeway Country Club, says trouble first started when the stock market went sour, forcing many people to leave the club. Now, there are only 70 members.

Homeowner Mara Freeman, who enjoys a picturesque view on the club's rolling greens from her window, is worried about what will happen to her neighbors.

"I would hate to see it fully developed into a bunch of McMansions," Freeman says. "I wouldn't mind some development, but I think it would really be great and important to keep some green space."

Some developers are talking about building single-family homes and keeping a smaller golf course. Others want to purchase it outright and keep it as is.

The club's board will present every offer to the members, who will decide what happens to the land.

In the meantime, the club lowered its $25,000 initiation fee to $15,000 in an effort to attract new members. Shyer hopes that will be enough to save the club and keep people on the greens for years to come.

"Hopefully, it will remain a golf course in my lifetime," he says. "Hopefully, we won't ever sell it."