Mar 23, 2016
(COEUR D’ALENE, ID) Ouch! Former members at The Golf Club at Black Rock, who paid initiation deposits ranging from $40,000 to $125,000, lost a class-action lawsuit this week to get those initiation fees back. The Spokesman-Review reports that the 2008 recession and credit crunch of 2008 killed new sales at Black Rock, a luxury golf community with 382 homesites. When the club began to default on $12.5 million in loans from Washington Trust Bank back in 2010, the bank forgave the debt in exchange for ownership of the property. All memberships were terminated and the bank negotiated the sale of the club to a homeowners’ investment group for $6 million. It has since reopened as The Golf Club at Black Rock LLC. The new owners sold buyback memberships for $25,000 each, but the former members were left holding the bag.
Mar 21, 2016
(ABERDEENSHIRE, SCOTLAND) Jack Nicklaus worked his way out of many a hazard over his storied career. He hopes to resurrect that on-course magic once again in Scotland. At stake is approval for a course at Ury Estate in Aberdeenshire that would also include 90 luxury houses, a hotel, and clubhouse. Some local planning chiefs have recommended the plans be scuttled over concerns for mature trees in the area. Though Nicklaus is well known for being a good steward of the land he builds golf courses on, a report before the local board states “New woodland planting is proposed and, although this could provide valuable connecting woodland in the long term, this in no way replaces woodland habitat which has developed over hundreds of years.” For its part, Nicklaus’ team says its goal is to “not only protect this unique environment but enhance it for generations to come.” With 200 jobs and a £55.5 million boost to the local economy at stake, we’ll see if the ancient woodlands prevail.
Mar 18, 2016
(SARASOTA, FL) Named for the famous putt Jack Nicklaus conceded to his European counterpart, Tony Jacklin, in the 1969 Ryder Cup, resulting in the first tie in Ryder Cup history, The Concession Residences is one of the most desirable, gated-community addresses in South Florida. Better yet, the Manatee-Sarasota Building Industry Association just honored the low-density luxury enclave with its “Best Development Award” for communities with 201 to 500 homesites at the Parade of Homes. The CORE Development project also won “Best Entranceway” and “Best Amenities,” further validating its unsurpassed lifestyle offerings. A number of the community’s stable of elite builders also took home prestigious awards, including Best Overall, Best Kitchen, Best Curb Appeal, and Best Master Suite. The Concession is 75% sold out, and they anticipate a limited supply of lots by the end of the year. Core Development is nationally known for numerous award-winning design-builds including The Ritz-Carlton, Sarasota and The Residences at the Ritz-Carlton Sarasota. Concession residents are invited to join The Concession Golf Club, with its 7,474-yard tournament-caliber layout winding through over 500 acres of thick stands of live oaks, magnolias and pines.
Mar 16, 2016
(GREENSBORO, GA) Talk about the complete golf experience. Reynolds Lake Oconee already ranked among the most exciting golf experiences in the country with six award-winning golf courses designed by legendary architects Jack Nicklaus, Tom Fazio, Rees Jones, Bob Cupp, and Jim Engh. Now, with the launching of the Reynolds Kingdom of Golf, it is now also one of the most complete golf experiences as well. The community’s exclusive partnership with TaylorMade has been transformed into a premier full-game improvement experience that will be operated by Reynolds Lake Oconee. All guests will have access to the TaylorMade MATT-T system and instant gratification through the building of clubs in the onsite TaylorMade Tour Trailer. They have also fully integrated the Reynolds Golf Academy, under the direction of Top 100 instructor Charlie King, into The Reynolds Kingdom of Golf to provide golfers with a total golf experience. In addition to incorporating these independent businesses into the Reynolds Lake Oconee golf operations, a major expansion of the current Kingdom facility is underway. This expansion includes two fully enclosed hitting bays, three covered and heated hitting areas, TrackMan 4 launch monitors, and high-speed Ximea cameras. Since opening in 2007, The Kingdom has served as the East Coast fitting center for many PGA and LPGA Tour stars. It is the only TaylorMade venue in the country where recreational golfers can be fit for equipment in the same elite environment used by Tour players and club professionals on staff with TaylorMade.
Mar 14, 2016
(PALM BEACH, FL) They’re not building any new oceanfront. That scarcity of oceanfront properties, along with increasing wealth for those at the upper reaches of society, are fueling record mansion prices in Palm Beach County. According to the Palm Beach Post, an oceanfront mansion sold earlier this month for $34 million, shattering Delray Beach’s previous record price by $15 million, a contract for a $59 million mansion was signed in Palm Beach, and a mansion in Ocean Ridge sold for $13.6 million, eclipsing that town’s previous record of $9 million. This past summer, a $33 million deal in Manalapan and a $38 million sale on Jupiter Island set new records for oceanfront mansions in those communities. Despite those record prices, not everything on the water is selling easily. Greg Norman’s Jupiter Island estate has lowered its asking price to $55 million after failing to sell at $65 million and pop star Celine Dion has dropped her oceanfront estate to $45.5 million, $27 million less than the original list price. And you’ll never guess who holds the record for an oceanfront mansion in Palm Beach County. None other than Donald Trump, who sold his mansion for $95 million in 2008.