New York Times: The Course That Got Away

Useful real estate development lessons for the Big Schemers of Emerald City

By Curmudgeon

Long article in today's New York Times, describing how golf course real estate developments are going under all across the land. It's headlined "The Course That Got Away."

Struck me as I read it that the ones in trouble seem to have been financed [or planned to be] by selling lots and houses to build the next stage, and by charging owners club membership fees to operate the courses.

In the current market, the developers are tanking and closing the golf courses to save money, leaving many unsold lots and houses, and leaving those who did buy with much diminished properties.

Yes, the similarities to what was apparently being planned for Ogden by Hizzonah and Mr. Peterson some years ago caught my eye. Anyway, I found it interesting reading and not wholly unrelated to Ogden. Worth a look.