Requiring homeowners to also join an associated country club—once a popular real-estate sales approach—is now proving to only restrict the market, some experts say. Additionally, a new report shows that home values can drop 25 to 50 percent if an adjacent golf course is closed.
Concert Golf Partners to Buy Fountains CC
Residents of the Lake Worth, Fla., community voted to sell to the management company for an undisclosed sum, ending residents’ mandatory membership in the club. It is unclear how the sale will affect plans to sell parts of the property’s three golf courses to a housing developer. The Lake Worth, Fla., community has voted to…
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Fountains CC Files, Defends Mandatory Membership Lawsuits
In the past few weeks alone, the Lake Worth, Fla., club has filed about 25 lawsuits against residents who are fighting mandatory club dues. One resident filed suit against the club in June, citing malicious prosecution after being tied up in litigation for three years. The club said it could not comment on any lawsuit in particular.
Fountains CC Members Approve $17M Land Sale
Under the deal, GL Homes will develop one of the Lake Worth, Fla., club’s three golf courses, with plans to build 470 housing units. Some residents opposed the sale as a short-term fix to the long-term problem of mandatory memberships for those who live in the community’s 19 homeowners associations.
Fountains CC Makes $17M Deal to Sell Land to Home Builder
The move will help offset falling membership at the Lake Worth, Fla. property and result in the closing of one of its three golf courses. The buyer, GL Homes, could build as many as 470 housing units on the land it will acquire. As part of the terms of sale, the club must build a $2.5 million resort-style pool for its sports complex.
Fountains CC Undertakes $2M in Renovations
As part of a capital improvement plan instituted and approved by members after KemperSports took over management last December, one of the Lake Worth, Fla’s three golf courses will be restored to its original design, and outdoor eating areas will be expanded.
Florida, South Carolina Golf Properties Appoint New Management
Holiday Golf and Racquet Club will temporarily manage Bay Dunes GC in Panama City, Fla., while KemperSports will manage Fountains CC in Lake Worth, Fla., and Brown Golf Management added Rose Hill GC in Florence, S.C., to its portfolio.