Owners of the San Diego, Calif. property say the course is being closed primarily because of water rates that have doubled in less than ten years. The clubhouse will remain open for private and community events. The closing continues a trend that has seen seven San Diego County golf courses shuttered since 2013. It was…
Top-Tier Nonprofit Golf Clubs See 11% Increase in Revenue
A report by The Business Journals found that nonprofit country clubs with at least $10 million in annual revenue saw combined revenue rising over the past three years, while membership dues were up 6% and cash on hand increased by 14%. The Business Journals analyzed federal employment data for 449 U.S. counties and found that…
Las Vegas CC Sold to Samick Music Corporation
The private club, which features a two-story, 54,000-sq. ft. clubhouse and Ed Ault-designed golf course, was sold for an undisclosed price. Through its subsidiary, Samick Music Corporation also owns and operates Redhawk Golf Club in Temecula, Calif. The Las Vegas Country Club, a private, member-owned club, has been sold for an undisclosed price. C&RB reported…
Owner to Sell Granby (Colo.) Ranch
Marise Cipriani has owned the 5,000-acre ski and golf resort community for 22 years, and said “it’s time for me to move on.” The property features a 400-acre ski area, three miles of private fly fishing, an 18-hole golf course, 40 miles of hike and bike trails, and approvals for more than 1 million sq.…
City of Oshkosh, Wis. OKs Deal to Sell Part of Lakeshore GC to Oshkosh Corp.
The Fortune 500 company, which manufactures specialty trucks and military vehicles, has century-old roots in its namesake city, but has been considering relocating its headquarters. It will now consider the plan to buy 35 acres of the 100-year-old course for $3.5 million and also get $13 million in tax incentives if it stays, with a decision expected by the end of November.
Bidding for DuPont CC Closes September 15
The nearly 100-year-old Wilmington, Del. club’s 525-acre property with 54 holes of golf has already attracted serious interest from “a mix of golf course operators, high-net-worth individuals and corporations not normally associated with country clubs,” those close to the sale report. After the bidding is closed, a long process before an agreement can be reached is expected.
DuPont CC Officially Up for Sale
Nearly seven months after DuPont announced its intent to sell it, the Wilmington, Del., property is officially on the market at an undisclosed price. The sale will be contingent upon the new owner promising to maintain the property as a club and upgrading the property. DuPont Country Club in Wilmington, Del., has officially hit the…
Feasibility Study Shows Promise for Waubeeka Golf Links Expansion
Michael Deep, the new owner of the Williamstown, Mass. property, has secured a change in town bylaws to allow his plans to develop a hotel and resort, which the study confirmed would be profitable, to proceed. Deep is now looking for a development partner, but won’t work with chain operators who would jeopardize the value and appeal of the golf course.
Discovery Land and Wolff Co. to Acquire Las Vegas CC
At least one and possibly two high-rise towers are expected to be built on the property by the new owners of the previously member-owned club, which opened in 1967. But the golf course is deed-restricted and can’t be touched. The “aggregate consideration” sale price was set at $22.5 million, for payments of just under $30,000 per member.
CedarBrook Club Listed for Sale
The club, which opened in 1961 in Old Brookville, N.Y., has 125 acres that includes an 18-hole golf course and 45,000-sq. ft. clubhouse. It could be developed into as many as 34 home sites that would list for from $3 million to $10 million, given its location in the desirable Glen Head section of Long Island’s Gold Coast.
Shuttered Golf Courses Stuck in Development Limbo
A report by Bloomberg Business details the redevelopment battles of golf courses, which often result in the golf course being abandoned and unkempt, particularly when they have adjoining residential developments.