Frost Creek, formerly known as Adam’s Mountain Country Club in Eagle, Colo., has more than tripled its membership numbers under new owner Brue Capital. The Golf Club at South River in Edgewater, Md., is also reporting membership growth, thanks in part to a recent clubhouse renovation and restructured membership options.
A little more than 150 days since the new owners paid $21 million and took over the Adam’s Rib properties in Eagle, Colo., Frost Creek has more than tripled club memberships, the Vail (Colo.) Daily reported.
New owner Brue Capital, the Denver-based ownership group led by investor Chad Brue, re-branded the former Adam’s Mountain Country Club as Frost Creek. Additionally, the existing homes at the site have been sold or are under contract, and an initial offering of 18 home sites has been released, the Daily reported.
The former Adam’s Rib Ranch property also has been rechristened and is now called Hardscrabble Mountain Ranch. The ranch property listing by Mirr Ranch Group of Denver placed a $20 million price tag on “a 1,516-acre ranch located south of Eagle.”
Frost Creek sits on 2,655 acres and includes an 18-hole Tom Weiskopf-designed golf course, a 40,000-sq. ft. clubhouse with Olympic-sized pool, a tennis court and on-property fishing rights in Brush Creek. Also included in the purchase were five new-construction homes, five member cabins, 91 finished residential lots ranging from 3.6 to 9.9 acres and a working 1,553-acre ranch with water rights on Brush Creek, the Daily reported.
“There is a whole new vibe out there now. Interest has been very high,” said Scot Webster, of Slifer Smith & Frampton Real Estate. The local firm has an exclusive listing agreement with Frost Creek for the golf course community. “People are just totally into the vibe that it isn’t a stuffy country club atmosphere any more. It’s a family-oriented project. If you go in as a family, everyone will have something to do.”
With the changes at Frost Creek, Webster said the membership model for the club has changed to an “equity” model. That means the initiation fee and annual dues are much lower, but new members don’t get money back if they decide to sell out. The current fee structure has three levels. The cost is a $15,000 initiation fee and $5,000 annual dues for a national membership and a $20,000 initiation fee and $7,500 annual dues for an Eagle County membership. The reasoning for a higher local fee is a local member is more likely to regularly use the club amenities. For that cost, members have access to golf, swimming, tennis, four-wheeling and fly-fishing amenities. A sports only membership, which excludes the golf option, costs $7,500 for an initiation fee and $2,500 in annual dues, the Daily reported.
So far this year, the membership ranks have swelled from 30 to 130 with the new model, Webster said. “Our slogan was we are averaging about a new member per day,” he said.
Membership demand at The Golf Club at South River, a private golf club in Edgewater, Md., has surged thanks in part to multi-million dollar clubhouse and course renovations and restructured, all-inclusive membership, the club reported.
As of August 20, 2015, membership has grown to include 305 Golf members and 25 Young Executive members. The popular Young Executive Membership, available for those under age 45, is nearing capacity.
The club is owned and operated by the Brick Companies, a century-old management company, which has funded substantial capital improvement projects. Most recently, the club added a new $1 million practice facility, and allocated another $1.5 million towards golf course improvements. In 2013, a $5 million clubhouse renovation added a state-of-the-art fitness center, pro shop, massage facilities, full-service locker rooms, and an indoor HD Golf Simulator room.
“At a time when many clubs are financially unable to put money back into the club, The Golf Club at South River has continued to update and innovate,” said Membership Director Beth Prensky. “Local golfers are certainly recognizing that a membership of this caliber, which also delivers an impressive value, is a rare find.”
Members at The Golf Club at South River are not subject to food and beverage minimums or assessments from renovation projects. In addition, the club’s initiation fee is up to 75 percent refundable, and the all-inclusive dues cover everything from carts to bag storage.
Prensky credits a full calendar of golf and social events for helping to create the club’s dynamic membership lifestyle, citing upcoming events such as a junior golf tournament, speed golf, and moonlight golf, as popular summer events.
“Our members join for more than an excellent golf course,” Prensky said. “They join to experience the intangible benefits of membership as well—great friendships, camaraderie, and community.”
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