Full TGIF Record # 130988
Item 1 of 1
Publication Type:
i
Professional
Author(s):Lurie, Steven J.; Thompson, Scott
Author Affiliation:Lurie: Chairman; Thompson: Counsel, Real Estate Department, Greenberg Glusker, Los Angeles, California
Title:Captured value on the links: Using excess land of golf courses for redevelopment is one way course operators are generating cash for capital improvements
Source:Urban Land. February 2007, p. 79-82.
# of Pages:4
Publishing Information:Washington, DC: The Urban Land Institute
Keywords:TIC Keywords: Golf demand; Golf industry trends; Golf course development; Resort golf courses; Golf courses in the community; Golf course renovation
Abstract/Contents:Explains how the overbuilding of golf courses in the late 1990s resulted in fewer rounds played per course and that "in a capital-intensive industry that relies heavily on its fee structure as its primary revenue source, fewer rounds correlates directly to reduced money for maintenance and improvements." Explains that one strategy used for generating cash for capital improvements "is redevelopment - allowing the owner to capture value already present in the golf course land to improve the facility, and make money in the process." Suggests that "some courses, especially those not integrated into a residential development, have excess land because they were designed just for golf with little sensitivity to the amount of land actually needed for the course." Reports that "though some may question the wisdom of golf course redevelopment, especially in light of a softening housing market nationwide, evidence supports the approach." Suggests that "excess land on a golf course can be used not only for residential development, but also for the development of other product types." Warns that "all the challenges that come with the infill development process also apply to golf course development, including zoning and general plan changes, homeowner issues, and political considerations."
Language:English
References:0
Note:Pictures, b/w
Figures
ASA/CSSA/SSSA Citation (Crop Science-Like - may be incomplete):
Lurie, S. J., and S. Thompson. 2007. Captured value on the links: Using excess land of golf courses for redevelopment is one way course operators are generating cash for capital improvements. Urban Land. p. 79-82.
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